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Samsung and LG Outlook Strong First Quarter
LG Electronics Inc. projected a Q121 operating profit at 1.51 trillion won (US$1.3 billion) up 39.2% Y/Y. LG also expected its first-quarter sales at 18.8 trillion won, up 27.9% Y/Y. Should the Q121 outlook stand, both sales and operating profit will be the largest for any quarter in its history, beating revenue of 18.78 trillion won in the fourth quarter of 2020 and operating income of 1.24 trillion won in the second quarter of 2009.
LG did not break down performances of its respective business divisions, saying it will announce the detailed earnings later this month.
LG's TV and Home Appliance drove the growth, while the soon to be exited mobile business was projected to suffer extended losses at around 280 billion won.
"Its losses from discontinued operations will be reflected from the second quarter of this year," said Lee Jong-wook, an analyst at Samsung Securities. "It is expected to report massive one-off costs considering expenses related to asset rearrangement, contract termination with chips suppliers and mobile carriers and after-sales programs." (Yonhap)
Samsung posted operating income of 9.3 trillion won ($8.3 billion) up 44% Y/Y for Q121 in preliminary results released last week. Sales for the quarter were up 17% Y/Y at 65 trillion won. The increases were attributed to the early release of the Galaxy S21 which softened the blow from a Texas power failure that took one of its Austin factories offline. The company didn’t provide net income or break out divisional performance, which it will report later this month. Samsung’s first-quarter smartphone shipments are estimated at 76 million, up 25% sequentially, with an average selling price more than 20% higher, according to Eugene Investment & Securities. The S21 series outsold its predecessor S20 by a two-to-one margin in the first six weeks after launch, helped by a lower starting price and strong support from U.S. carriers, according to Counterpoint Research.
LG Electronics Inc. projected a Q121 operating profit at 1.51 trillion won (US$1.3 billion) up 39.2% Y/Y. LG also expected its first-quarter sales at 18.8 trillion won, up 27.9% Y/Y. Should the Q121 outlook stand, both sales and operating profit will be the largest for any quarter in its history, beating revenue of 18.78 trillion won in the fourth quarter of 2020 and operating income of 1.24 trillion won in the second quarter of 2009.
LG did not break down performances of its respective business divisions, saying it will announce the detailed earnings later this month.
LG's TV and Home Appliance drove the growth, while the soon to be exited mobile business was projected to suffer extended losses at around 280 billion won.
"Its losses from discontinued operations will be reflected from the second quarter of this year," said Lee Jong-wook, an analyst at Samsung Securities. "It is expected to report massive one-off costs considering expenses related to asset rearrangement, contract termination with chips suppliers and mobile carriers and after-sales programs." (Yonhap)
Samsung posted operating income of 9.3 trillion won ($8.3 billion) up 44% Y/Y for Q121 in preliminary results released last week. Sales for the quarter were up 17% Y/Y at 65 trillion won. The increases were attributed to the early release of the Galaxy S21 which softened the blow from a Texas power failure that took one of its Austin factories offline. The company didn’t provide net income or break out divisional performance, which it will report later this month. Samsung’s first-quarter smartphone shipments are estimated at 76 million, up 25% sequentially, with an average selling price more than 20% higher, according to Eugene Investment & Securities. The S21 series outsold its predecessor S20 by a two-to-one margin in the first six weeks after launch, helped by a lower starting price and strong support from U.S. carriers, according to Counterpoint Research.
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