LG expects higher profits and sales, probably due to good sales of OLED TVs

LG expects higher turnover and profit figures in the first three months of 2018 compared to the same quarter of 2017. The manufacturer does not provide any further explanation, but analysts believe that good sales of OLED TVs are the cause of this.

LG speaks in a brief preview of the upcoming quarterly figures, which are likely to be published at the end of this month, of an increase in the operating profit of more than 20 percent. According to the manufacturer, this profit figure will amount to 844.8 million euros, while LG expects turnover to increase by three percent to 11.9 billion euros. According to the South Korean company this quarter is expected to be the best first quarter in the history of LG.

According to analysts, the figures are partly due to good results at the TV division, in the form of good sales of OLED TVs and lower costs for the production of cheaper LCD panels. The results in the field of TV would be sufficient to compensate for the expected loss of the mobile phone division, where LG is suffering from stiff competition, reports Reuters .