The company’s smartphone sales decreased by 34% in the first quarter of the year.
What you need to know
- LG’s operating profit increased to KRW 1.09 trillion ($921.47 million) in Q1 2020.
- The company’s 7.4 percent operating margin during the quarter was the highest in its history for a first quarter.
- Consolidated revenue, however, declined slightly compared to the same period a year earlier.
Just like its compatriot Samsung, LG today announced its financial results for the first quarter of the year. Despite the effect of COVID-19 towards the end of the quarter, LG posted an operating profit of KRW 1.09 trillion ($921.47 million) during the quarter, a 21.1 percent increase over the same period last year. LG also achieved a 7.4 percent operating margin in the first quarter of 2020, the highest in its history for a first quarter.
While operating profit increased year-on-year,…