Announced LG about its earnings for the first quarter of 2019, it has reached its revenue 14.92 trillion won, this is considered the low %1.3 compared to its revenue last year in the same quarter. It may also recorded a profit of $ 900.6 million, down %18.7 on an annual basis, while net profit fell 20.8% on an annual basis to 578 billion won. The earnings decline primarily to the weak sales in the Department of mobile phones.
The company said that despite the lower operating income and total revenue in the first quarter of 2019, compared to the year 2018, the Department of home appliances of record sales and profits in the first quarter, operating income was higher by %1.090 for the fourth quarter of 2018.
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Achieved the communication department revenues of 1.51 trillion won in the first quarter, down %9.8 on the previous quarter, %29.2 on an annual basis, this due to the demand slowdown in the smartphone market and Strategy global expansion of Chinese companies.
Scored section cell phones operating loss of $ 203.5 billion won, compared to a loss of $ 131.8 billion won last year, and 318.5 billion won in the fourth quarter of 2018.
Anyway, expect LG to bring phone V50 ThinQ 5G sales positive in the third quarter, as to move the center of manufacturing of smart phones in LG’s Pyeongtaek Korea to Hove Trang, Vietnam, will help in improving the earnings capacity of LG’s global competitiveness in the second half of the year.