LG Electronics has reported revenues of 14.73 trillion won (US$ 12.45 billion) for the fourth quarter that ended March 31, 2020, which is down 1.25% compared to the same quarter last year. It posted profits of 1.09 billion won (US$ 921.47 million), up 21% YoY, making this only the second time in history when quarterly operating profit exceeded KRW 1 trillion, while net profit was up 88% YoY to 1086.7 billion won (US$ 717 billion). The 7.4 percent operating margin was the highest in LG’s history for a first quarter. This is due to strong performance in home appliance and TV businesses. Continue reading “LG Mobile losses continue in Q1 2020 despite 88% jump in overall profits; expects sales decline in Q2 due to COVID-19”