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LG Electronics has posted its Q1 2017 results<\/a>, which show a\u00a0nearly 10 per cent year-over-year jump in revenue. The electronics maker is reporting\u00a0KRW 14.66 trillion ($12.70BN) in revenue, an increase of 9.7 per cent from the same period last year. While its operating income (profit) nearly doubled, to KRW 921.5 billion ($798.3M).<\/p>\n On the mobile front, the quarter was an important one for LG which launched a new flagship smartphone, the LG G6<\/a>, whose twist is\u00a0a 2:1 aspect ratio display \u2014 prompting TechCrunch\u2019s Romain Dillet to write that taller screens are the future of smartphones<\/a>.<\/p>\n Rival smartphone maker Samsung subsequently outed its new flagship handset, the\u00a0Galaxy S8<\/a>, which also has a tall form factor\u00a0and an elongated aspect ratio. While\u00a0rumors<\/a> suggest Apple\u2019s next iPhone(s) might also pack taller screens. So LG\u2019s bet on stretching the smartphone\u00a0on its\u00a0vertical axis, to add\u00a0more real estate without turning the device into a palm-stretching phablet, looks\u00a0to be onto something.<\/p>\n Compare that to the prior year when LG bet on a fiddly\u00a0(and as it turned unpopular) modular smartphone design, with\u00a0the G5<\/a>,\u00a0and it\u2019s clear how much of a reorganization its\u00a0mobile division has undergone \u2014 with what looks like promising early results.<\/p>\n LG\u2019s\u00a0quarter also clearly benefited from it beating Samsung\u00a0to the punch with its\u00a02017\u00a0flagship smartphone launch. The G6 went on sale in its home market in early March vs Samsung\u2019s S8 only launching this month<\/a>, after it\u00a0had\u00a0to divert resources to dealing\u00a0with last year\u2019s Galaxy Note 7 recall<\/a>. And the delayed\u00a0launch of the S8 clearly gave\u00a0LG\u2019s G6 a window of\u00a0time to shine and grab smartphone buyers\u2019 attention. (Samsung has also posted its Q1 results today<\/a> \u2014 which records\u00a0a revenue drop for its mobile division.)<\/p>\n LG said its mobile division generated\u00a0revenues of KRW 3.01 trillion ($2.61BN) in the quarter, an increase of 4 per cent quarter-over-quarter and 2 per cent year-over-year \u2014 attributing the rise\u00a0to the launch of the G6 and new mass-tier models. Smartphone shipments were\u00a014.8 million units in the quarter, up 10 per cent from year before quarter \u2014 with LG attributing the growth \u201cin large part\u201d to sales in \u201cthe Americas\u201d.<\/p>\n Despite some uplift for its mobile division, the company does also caution it expects\u00a0price competition in the mass tier segment and competition from other flagship smartphones to ramp up this year. So it will be interesting to see whether it can sustain its early momentum.<\/p>\n Beyond\u00a0its mobile business, LG said\u00a0its\u00a0Home Appliance & Air Solutions division\u00a0posted its highest quarterly operating income in eight years, reporting a 10 per cent increase in first-quarter sales vs the year ago quarter and 15 per cent higher, quarter on quarter.\u00a0Revenues for the division were\u00a0KRW 4.64 trillion ($4.02BN).<\/p>\n While\u00a0it said its Home Entertainment division\u00a0recorded its highest first-quarter operating margin of 8.8 per cent on sales of KRW 4.33 trillion ($3.75BN).<\/p>\n LG also has a Vehicle Components division, and said this\u00a0reported \u201cstrong\u201d sales of KRW 876.4 billion ($759.2M), a 48 per cent rise\u00a0from the first quarter of 2016 \u2014 which LG mostly credits to a collaboration with General Motors on the Bolt electronic vehicle.<\/p>\n It adds that continued investments in R&D and growth are expected to continue to affect profitability this year. It\u2019s holding a conference call on the earnings on April 28, at 09:00 Korea Standard Time (00:00 GMT\/UTC).<\/p>\n","protected":false},"excerpt":{"rendered":"![\"\"](\"https:\/\/tctechcrunch2011.files.wordpress.com\/2017\/02\/lg-g6-1.jpg?w=680\")
LG Electronics has posted its Q1 2017 results, which show a nearly 10 per cent year-over-year jump in revenue. The electronics maker is reporting KRW 14.66 trillion ($12.70BN) in revenue, an increase of 9.7 per cent from the same period last year. Read More<\/a><\/p>\n\n<\/img><\/a>
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