LG records highest first quarter performance 

LG Electronics said on Wednesday that it is expecting sales of 18.8 trillion won and operating income of 1.51 trillion won in the first quarter.

This is an increase of 27.7% and 39.2%, respectively, from the same time period in 2020.

They are the highest figures from the company for the first quarter to date.

Home appliance and TV is thought to have led the growth from stay-at-home measures caused by the pandemic.

South Korean analysts believe its home appliance business contributed up to 900 billion won in operating income and over 6 trillion won in sales.

Its TV business is expected to have contributed 300 billion won in operating income, with sales of late-3 trillion won. Increased year-on-year sales of OLED TV and Nanocell TV likely led this growth.

The mobile business is expected to have posted its 24th straight quarter of loss. Earlier this week, LG announced it was closing its mobile business unit by July 31.