April 08, 2021 12:41
Samsung and LG have posted record first-quarter earnings.
Samsung's first-quarter sales totaled W65 trillion, while LG achieved a first-quarter operating profit of W1.52 trillion (US$1=W1,118).
The stellar results were attributed to signs of a global recovery and pent-up demand for home appliances and IT products that was suppressed during the coronavirus pandemic.
Analysts project even higher earnings for the two giants in the second quarter and beyond. Samsung is expected to ride a semiconductor super-cycle due to rising global chip prices, while LG will start benefiting from its new focus on automotive batteries and components after abandoning the smartphone business.
- Copyright © Chosunilbo & Chosun.com