LG’s record profits show Samsung missed out on OLED TVs

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LG simply introduced document earnings for its first three months of the yr, making 1.11 trillion gained ($1.03 billion) in revenue off 15.12 trillion gained ($14.1 billion) in income — the best first-quarter figures in firm historical past. The standout performer was LG’s residence leisure division, which reported a 76.5-percent enhance in working revenue yr on yr, largely pushed by the sale of high-end OLED and “Tremendous UHD” LED 4K TVs. LG says it is seeing “fast progress” within the premium TV market.

LG’s greatest rival, perennial TV market chief Samsung, can also be specializing in higher-end units, however noticed income slide the identical quarter because it eliminated inexpensive merchandise from its lineup. Each corporations count on TV gross sales to be robust within the second quarter due to the soccer World Cup in June — the largest single sporting occasion on the earth, and historically one of many greatest drivers of world TV upgrades — however LG’s progress is extra sustained.

LG’s OLED units are broadly thought-about the very best you should purchase, and affiliate LG Show basically has a monopoly on OLED panel manufacturing for LG and different TV corporations. Yesterday, LG Show mentioned demand for OLED panels was “on the rise,” and changing into extra worthwhile due to R&D efforts to decrease manufacturing prices. Samsung doesn’t make OLED TVs in any respect, in the meantime — it’s at the moment pushing quantum-dot LED TVs underneath the advertising and marketing title “QLED,” with a long-term objective of driving the genuinely new MicroLED tech to market. The corporate demonstrated an enormous modular MicroLED TV referred to as “The Wall” at CES in January, and plans to promote it from August. Proper now, although, it appears to be like like Samsung has been been outmaneuvered within the high-end area by its native competitor.

Supply hyperlink – https://www.theverge.com/2018/four/26/17283994/lg-oled-tv-sales-q1-2018-earnings

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