LG Electronics set for reevaluation after phone biz exit
Posted : 2021-04-08 17:03
Updated : 2021-04-08 17:56
LG Electronics employees conduct quality control checks of its Objet Collection Styler steam closets at its plant in Changwon, South Gyeongsang Province, March 2. Courtesy of LG Electronics
By Baek Byung-yeul
With LG Electronics expected to post its best-ever quarterly results thanks to soaring demand for home appliances in the first quarter, industry analysts said Thursday the tech company still has more room to grow due to its decision to exit the smartphone business.
On Wednesday, LG Electronics announced its earnings guidance and expected its sales to hit 18.8 trillion won ($16.8 billion) and operating profit at 1.51 trillion won in the January-March period, up 22.7 percent and 39.2 percent year-on-year, respectively. The figures are the highest-ever in its history.