[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.
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LG Signature OLED TV with a US$9,500 price tag. |
“LG’s premium TVs are continuing strong sales in advanced markets. Both market share and operating profit are expected to further improve in the second quarter,” an industry source was quoted as saying by Herald Business.
An analyst added: “LG’s second-quarter operating profit could surge 152 percent from a year ago. Appliances and TVs are seeing profits more than expected.”
Behind the company’s premium push is its organic light-emitting diode TV. Even though its sales still make up a tiny 1 percent of its total TV sales, the company is making a big push on OLED to elevate its brand awareness and device sales overall.
Its sister firm LG Display is the sole manufacturer of large-size OLED panels. The company aims to increase its production capacity from the current 34,000 panels per month to some 60,000 panels by 2017.
By Lee Ji-yoon (
jylee@heraldcorp.com">
jylee@heraldcorp.com)
