LG has just announced record earnings for its first three months of the year, earning 1.11 trillion won ($ 1.03 billion) in earnings of 15.12 trillion won ($ 14.1 billion) in revenue, the highest figures of the first quarter in the history of the company. The outstanding actor was LG's home entertainment division, which reported a 76.5 percent increase in operating profits year-over-year, largely driven by the sale of high-end 4K OLED and "Super UHD" LED TVs. LG says it is seeing "rapid growth" in the premium TV market.
LG's biggest rival, the leader of the Samsung TV market, is also focusing on high-end TVs, but saw revenues fall in the same quarter by eliminating less expensive products from its lineup. Both companies expect TV sales to be strong in the second quarter due to the soccer World Cup in June, the largest sporting event in the world, and traditionally one of the biggest drivers of global TV updates, but the growth of LG It is more sustained.
LG OLED sets are widely regarded as the best that can be purchased, and the LG Display affiliate essentially has a monopoly on the production of OLED panels for LG and other television companies. Yesterday, LG Display said demand for OLED panels was "on the rise" and was becoming more profitable thanks to R & D efforts to reduce manufacturing costs. Samsung does not manufacture OLED TVs, meanwhile, it is currently driving LED quantum dot TVs under the marketing name "QLED", with the long-term goal of bringing to the market the genuinely new MicroLED technology. The company demonstrated a giant modular MicroLED television called "The Wall" at CES in January, and plans to sell it from August. At this time, however, it seems that Samsung has been overtaken in the high-end space by its local competitor.