LG Electronics’s operating profit fell by a 19 percent in the first quarter, a a result of continuing losses in its mobile business and rising competition in the television segment.
LG reported tentative consolidated revenues of nearly KRW 14.9 trillion in the first quarter of 2019 with an operating profit of KRW 899.6 billion. Sales and operating income are expected to be 1.4 percent and 18.8 percent lower, respectively, than the same quarter the previous year.
LG will announce full results in late April.
LG held a 3 percent share of the global smartphone market in terms of shipment last year, according to a report from market tracker Counterpoint Research. The company plans to release its 5G-enabled smartphone in South Korea later this month.