OLED TV Gives LG Electronics Big Profits

LG Electronics reported Q3 net profits of KRW336.1 billion ($303 million), compared with losses for the same period last year of KRW81.5 billion ($73 million), on record Q3 revenue of KRW15.2 trillion ($13.7 billion), up from KRW13.2 trillion ($11.9 billion). For the nine months there were profits of KRW1.7 trillion ($1.5 billion), an increase from KRW385.1 billion ($347 million), on turnover which rose to KRW44.4 trillion ($40.0 billion) from KRW40.6 trillion ($36.6 billion). Monthly sales of OLED TVs exceeded 10,000 for the first time in Korea and accounted for about 30% of LG’s domestic TV sales. Premium TV (OLED and UltraHD) sales for Q3 saw 12% YoY global growth.