[THE INVESTOR] LG Electronics unveiled OLED TVs systematically adjusted for the hospitality industry at a global expo, the company’s spokesperson said on July 4. The organic light-emitting diode manufacturer recently displayed its hotel TV models, 55- and 65-inch class televisions at the 2016 Hospitality Industry Technology Exposition & Conference held in New Orleans. The razor sharp design combined with its high definition picture quality, supported fully by LG’s OLED technology is set to provi

[THE INVESTOR] LG Electronics will reportedly cease its auto engineering business this year.The tech giant has been running the business for the past 10 years, designing and manufacturing car frames for carmakers.Car companies in emerging nations including Indonesia and India are major customers of the Korean firm. LG Electronics’ lightweight vehicle frame / LG Electronics　The move is said to be aimed at quelling rumors that the company would jump into the automobile business in earnest. Having

[THE INVESTOR] LG Electronics is expected to announce its second-quarter earnings guidance on July 8. Local analysts estimate the company’s operating profit to stand at about 594.7 billion won (US$517 million). The Korean tech giant started releasing its quarterly earnings guidance since the first quarter this year. LG Electronics’ Seoul headquartersAnalyst say that despite the lukewarm sales of its flagship smartphone G5, the company’s robust TV and appliance sales could make up for the operati

[THE INVESTOR] LG Electronics is expected to post more than 10 percent operating profit ratio in its appliance business in the second quarter on upbeat sales of more lucrative high-end products, analyst estimates found on July 1. The home appliance and air solutions division enjoyed record sales and operating profit to sales ratio in the first quarter. Especially the operating profit ratio soared to 8 percent in the April-June period and the figure is expected to exceed 10 percent in the second

[THE INVESTOR] LG Uplus, the nation’s No. 3 telecom carrier, has been suspended from bidding for government orders for the next three months.According to the Office of Supply on June 30, the punitive measure took effect on June 28 following the company’s recent defeat in a legal dispute with the Ministry of National Defense. In 2012, a military officer was sentenced to a prison term after the Defense Ministry found him guilty of taking bribes from LG Uplus in return for business favors. The mini

[THE INVESTOR] LG Electronics topped high-end TV sales in the first quarter, with its global market share exceeding a record 39.4 percent. According to the market research firm IHS, the Korean tech giant logged US$273.9 million in US$2,000-plus TV sales in the January-March period. The ratio of operating profit to net sales also soared to 10 percent, which compares to an industry average of 5 percent. Industry watchers say the current sales momentum is expected to continue in the second quarter.