LG Electronics has announced second-quarter 2017 revenues of KRW 14.55 trillion (€11.03bn), an increase of nearly 4 per cent from the same period last year. Three of the company’s four main business units reported higher revenues than a year ago. Quarterly operating income of KRW 664.1 billion was 13.6 per cent higher in 2017, despite a challenging quarter for the mobile business.
The LG Home Entertainment Company recorded KRW 343 billion in operating profit on revenues of KRW 4.23 trillion, a 2 per cent increase from the 2016 second quarter despite the declining worldwide demand for TVs. Strong second-quarter sales of premium TV products, such as LG OLED TVs and LG Super UHD TVs, coupled with improved cost management, resulted in a solid 8.1 per cent operating profit margin. Premium TV sales are expected to remain strong for LG in the third quarter.