What They Say
Following on from Samsung (Samsung Enjoying 2022 Business So Far), LG released its preliminary results for Q1 and reported sales up 18.5% on last year to $17.2 billion and profit up by 6.4% to $1.54 billion.
Separately, Acer had its best Q1 for nine years, reporting sales of $2.7 billion, up 9.5% on last year, and it gave these highlights:
- Gaming business revenues grew 25.9% YoY
- Commercial business revenues grew 36.9% YoY
- Desktop business revenues grew 30.3% YoY
- Acer Gaming Inc. revenues grew 37.2% YoY
Acer said that it had suspended business with Russia.
What We Think
LG’s decision to drop out of the smartphone business hardly seems to have been noticed in financial terms. As for Acer, given the gloom being spread about the state of notebooks and Chromebooks, I’m slightly surprised to see it going so well, but perhaps it will affect Q2. The commercial business revenues explicitly exclude Chromebooks and the company didn’t release any data, so it’s unlikely to have been good.
The data below from Canalys shows the decline in PCs from last year in Q1. In the light of that, Acer did particularly well. (BR)
