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LG announced record quarterly profits and spent money

LG released data for the first fiscal quarter, reporting the largest profit since 2009. Consolidated revenue of the group of companies amounted to 15.12 trillion won ($ 14.1 billion) during the reporting period, operating profit – 1.11 trillion won ($ 1.03 billion). Sales increased by 3.2% compared with the same period a year earlier, operating revenue increased by 20%.

The best figures were shown by LG Home Appliance & Air Solution Company and the LG Home Entertainment Company. In the press release, revenue from sales of OLED-TVs, including devices with SUHD-screens, is growing. LG Mobile Communications Company went into negative territory at $ 126.85 million with sales of $ 2.01 billion.

Probably celebrating the achievements, LG bought the Austrian company ZKW, which produces electronics and lighting systems for Audi, BMW, Daimler and Porsche. ZKW is one of the first companies to establish the production of laser and matrix LED-optics for cars. In 2016, it almost absorbed Panasonic for $ 885 million LG posted $ 1.3 billion.

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