LG Electronics’ new built-in lineup that was designed by Nate Berkus, a top interior designer, is displayed at a retail shop in Los Angeles. The Korean tech giant aims to double sales of its premium built-in brand LG Studio in the U.S. market this year. (LG Electronics)

A participant checks the picture quality of quantum-dot screens at a technological seminar held by Samsung Electronics in Mexico City on April 27. The Korean tech giant invited a group of video experts, retailers and journalists of six Latin American countries to the event, where it is showcasing its latest liquid crystal display-based TV technology that uses tiny particles that emit a different color of light depending on size. (Samsung Electronics)

　Samsung Display said Friday that Kwon Oh-hyun, vice chairman and co-CEO of Samsung Electronics, will replace the company’s current chief executive Park Dong-gun.　The display business arm of Samsung Electronics did not elaborate on the reasons for the change, but some market watchers suspect Park was replaced after failing to boost the display business. Kwon Oh-hyun, vice chairman of Samsung Electronics. (Yonhap)　Samsung Display posted an operating loss of 270 billion won ($236.4 million) in the

South Korea’s leading chemical company LG Chem has fallen victim to an online scam that caused 24 billion won ($21.1 million) of financial damage to the company.The fraud case started with an email last month that was sent to LG Chem from Aramco Products Trading Co. The email claimed that the bank account for their bilateral business transaction had changed, and asked LG to send its payment to a different account. LG sent the money without suspecting any foul play.(Yonhap)But the account did not

LG Electronics said Thursday its flagship smartphone G5 shipments have exceeded 1.6 million units globally since its launch a month ago. “We will see more than 3 million shipments in the second quarter,” the company said during a conference call when it reported a 65.5 percent surge in operating profit to 505.2 billion won ($440 million) in the first quarter from a year ago. Even though strong sales of home appliances, especially more lucrative premium models, elevated the company’s profits over

Samsung SDI said Thursday it posted 703 billion won ($ 614 million) in operating loss in the first quarter this year.Its total revenue, however, grew 7.6 percent on-year to 1.3 trillion won during the period, the battery-making arm of Samsung Group said in a regulatory filing.Its operating loss represents a 2,007-percent and 452-percent increase from a year and a quarter earlier, respectively.The firm said the larger operating loss was mainly attributable to 1.1 trillion won in one-off costs ref

Korea’s largest Web portal Naver saw its net profit rise 22.7 percent on-year during the first three months this year thanks to increased overseas sales.The Internet giant said that it logged 165 billion won ($144 million) in operating profit. Its sales came in at 937 billion won and its operating profit at 257 billion won. The figures were up by 26.6 percent and 32.1 percent, respectively.Naver’s robust overseas sales served as a major force behind the improvement in profit and it was mainly dr

Strong sales of Galaxy S7 boost tech giant’s Q1 net profit

Korea’s third-largest electronics firm Dongbu Daewoo Electronics rolls out new products of the “The Classic,” microwave lineup, featuring a retro design, in Seoul on Thursday. (Dongbu Daewoo)

Samsung Electronics president and mobile business chief Koh Dong-jin (third from left) poses with young engineers during Samsung Developer Conference 2016 that kicked off Wednesday in San Francisco. Some 70 sessions on latest technologies such as the Internet of Things, smart TV and virtual reality are offered during the two-day event. (Samsung Electronics)

Samsung Electronics said Thursday it will buy back 2 trillion won ($1.7 billion) of its own shares in the third installment of its 11.3 trillion won buyback plan. The scheme will start Friday for three months, while the whole scheme is expected to be completed by later this year. In October, the company announced it would spend 11.3 trillion won to buy back and cancel shares over the next year. It is the company’s largest-ever payback scheme, following two others in 2007 and 2015, each worth 2 t

Samsung Electronics said Thursday its net profit advanced 13.55 percent on-year to 5.25 trillion won ($4.56 billion) in the first quarter, on the back of brisk sales of its latest flagship smartphones.Sales gained 5.65 percent on-year to 49.7 trillion won, while operating profit rose 11.65 percent to 6.67 trillion won, Samsung said in its regulatory filing. The results were mostly in line with an earnings guidance released earlier this month.Samsung said its IT and mobile communications business

Top players team up to reduce marketing costs

LG Display, the display-making unit of LG Group, said Wednesday its net profit plunged 99.8 percent in the first quarter, but managed to stay in the black, beating expectations. Net profits tumbled to 1.1 billion won ($1.02 million) in the first three months of this year, compared to 475.7 billion won a year ago. (Bloomberg)The company managed to maintain a surplus despite analyst estimates of 100.3 billion won in deficit. Operating income fell 94.7 percent to 39.5 billion won from the same peri

LG NEW ‘EASY’ TV -- LG Electronics on Wednesday launched five new versions of its Easy TV that aims to offer a more convenient viewing experience especially for the elderly. The TV adjusts brightness more quickly and doubles text size compared to other TVs. The company said the TV sells more than 100 units a day. (LG Electronics)