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​LG to post second-highest operating profit for first quarter

LG Electronics expects first quarter operating profits of 921.5 billion won as mobile recovers slightly, although it's likely to be still in the red before the G6's US launch.
Written by Cho Mu-Hyun, Contributing Writer

LG Electronics is expecting a strong first quarter with operating profits rising 82.4 percent from a year ago.

In its preliminary earning guidance, South Korea's second-largest electronics maker said it expected operating profit of 921.5 billion won and revenues of 14.66 trillion won for the first quarter.

It is a rise of 82.4 percent and 9.7 percent, respectively, and its second-best in quarterly profits ever. Strong performances from its TV and home appliances are likely the main contributors.

LG posted its highest ever profit back in the second quarter of 2009 of 1.24 trillion won.

Analysts in South Korea believe the mobile division will post less of a loss than before, though whether it can turn itself to the black within the year is yet to be seen.

The mobile division has posted seven straight quarters of loss since the second quarter of 2015.

The G6 began sales in Korea on March 10, but US sales begin Friday and are yet to contribute to profits.

Compatriot Samsung Electronics is also expecting to post its second-best quarter ever for Q1 this year.

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