LG Electronics Result 28/04/16

LG Electronics reported an operating profit of 505.2 billion Won ($420 million) on sales of 13.36 trillion Won ($11.12 billion). Profit was up 65.5% on the same period last year. Home entertainment sales were down 2.3% from last year at 4.33 trillion Won ($3.6 billion) with weak TV demand in North America and Europe. Operating margin in that segment was 7.7% and the company said that operating income was up 207% on a quarterly basis, because of growing demand for OLED and UltraHD OLEDs. Mobil communications were down 15.5% YoY with shipments of smartphones down 12% YoY and QoQ at 13.5 million. LG is optimistic that this will change with the new G5 phone.