'V20 not enough for LG Electronics' turnaround'

[THE INVESTOR]  LG Electronics' clout in the global smartphone market is steadily declining on the back of cut-throat competition in the sector.And the Korean firm’s bet on its next high-end smartphone, the V20, which succeeds the V10, is not expected to bring about a dramatic turnaround, according to industry watchers. LG V10 phablet. Its successor, tentatively called V20, is expected to come out in September. LG Electronics"LG’s upcoming new high-end smartphone will not be able to offset the s

July 29, 2016

LG Electronics’ Q2 operating profit jumps 140%

[THE INVESTOR] LG Electronics saw its operating income soar nearly 140 percent on-year to 584.6 billion won (US$519.7 million) in the April-June period on the back of strong sales of home appliances and air-conditioning systems, the company said in its earnings report on July 28.The company’s revenue came in at 14 trillion won, up 0.6 percent from a year earlier. LG Electronics’ R&D center in Seocho, Seoul  /  LG ElectronicsLG’s home appliance & air solution unit and home entertainment unit -- t

July 28, 2016

LG Innotek to build new camera module factory in Vietnam

[THE INVESTOR] Electronic components firm LG Innotek said July 28 that it would invest US$ 230 million by 2018 to build a camera module factory in Haiphong, the third largest city of Vietnam.The company’s board of directors approved a new funding of US$ 20 million to be used for setting up a local branch at a meeting in Seoul on July 27. LG Innotek`s camera moduleLG Innotek will roll out camera modules for smartphones and vehicles at the new factory in Vietnam, where the monthly minimum wage is

July 28, 2016

LG Innotek suffers W34b operating loss in Q2

[THE INVESTOR] LG Innotek, the electronics parts unit of LG Group, suffered an operating loss of 34 billion won (US$30 million) in the April-June period, the company said in its quarterly earnings report on July 27. Revenue stood at 1.12 trillion won, down 22.6 percent from a year ago.The company said the slowing demand for smartphones has affected its overall sales negatively, adding that it would making a big push on the more lucrative automotive parts business as its new growth engine.In the

July 27, 2016

Race to lead OLED market heats up

[THE INVESTOR] All eyes are now on who will take the reins in the upcoming era of organic light-emitting diode, which is expected to bring a generational change to mobile devices and the whole IT sector. The smartphone OLED realm has been a stronghold of Samsung Display whose market share reached 97.7 percent in the Jan-March period, according to market research firm IHS.Among the runner-ups in the segment are LG display of South Korea and AUO of Taiwan whose market share stood at 0.9 percent an

July 27, 2016

LG Display’s Q2 operating profit down 91%

[THE INVESTOR] South Korea’s display maker LG Display saw its operating profit drop 91 percent on-year in the April-June period, due largely to fierce competition in the global display market. The Seoul-headquartered company posted operating profit of 4.4 billion won (US$3.88 million) while its revenue came in at 585 billion won, down 13 percent compared to the same period in 2015.The TV and smartphone displays together account for more than half of the quarterly revenue -- 39 percent and 27 per

July 27, 2016

LG Display bets big on OLED to take on Samsung

[THE INVESTOR] South Korea’s display manufacturer LG Display announced on July 27 that it would invest around 2 trillion won (US$1.80 billion) to build manufacturing facilities for plastic organic light-emitting diode displays, a type of flexible display mostly used for mobile devices like smartphones. The company will add the new facilities with the monthly production capacity of 15,000 sheets of the sixth-generation plastic OLED -- measured 1,500 millimeters by 1,859 millimeters -- at the firm

July 27, 2016

LG Chem to triple elastomer output by 2018

[THE INVESTOR] LG Chem announced on July 25 that it will build the country’s largest elastomer plant by 2018.According to the plans, the company will inject 400 billion won (US$351.79 million) into building an elastomer production facility at its plant in Seosan, South Chungcheong Province. The new facility will be capable of producing 200,000 metric tons of elastomers on an annual basis. Elastomers produced by LG ChemOnce the plant is complete, LG Chem’s elastomer production capacity will be pu

July 25, 2016

LG to spend more for R&D on appliance parts

[THE INVESTOR] LG Electronics said it would spend 30-50 percent more on-year for research and development into key components of washing machines and air conditioners to maintain its competitiveness in the home appliance market. “The motor and compressor plays a vital role in our home appliance business, so we will invest accordingly,” said Park Jung-hyun, vice president of LG’s compressor and motor business unit at a press meeting in South Gyeongsang Province last week. LG Electronics employees

July 25, 2016

LG to supply telematics systems to Toyota

[THE INVESTOR] LG Electronics will supply telematics systems that support wireless Internet in cars to Japan’s Toyota Motor, according to news reports on July 22. The company’s vehicle component business division has recently signed a deal with the Japanese auto giant to produce telematics systems to be equipped in Toyota vehicles sold in Japan and North America. LG ElectronicsLG is No. 1 player in the global telematics market with some 30 percent market share. The company will supply 11 key par

July 22, 2016

LG Chem to acquire adhesive business from LG Hausys

[THE INVESTOR] LG Chem, the chemicals and battery-making unit of LG Group, said on July 21 it has decided to acquire the adhesive film business from LG Hausys, a sister firm specialized in construction materials. The purchase price is 80.5 billion won (US$70.70 million) and the final deal will be signed on Aug. 31. LG Chem currently produces some adhesive products that are used to stick polarizers to display panels. With the latest deal, the company said it aims to diversify its business areas i

July 21, 2016

LG joins Samsung to develop foldable smartphone: report

[THE INVESTOR] LG Electronics, which has struggled to elevate its smartphone sales for years, is said to have recently jumped into developing foldable display possibly to adopt it for its future mobile devices. The Electronic Times reported on July 21 that LG Display, the Korean tech giant’s sister display-making unit, has started its own foldable display development following last year’s setting up of a related task force team. LG Display’s foldable display technologyCiting unnamed sources, the

July 21, 2016

LG Electronics, Display release sustainability reports

[THE INVESTOR] LG Group’s two key affiliates LG Electronics and LG Display released their sustainability reports on July 21.In the latest annual reports, the companies provide the details of their current business operations, on-going and future efforts to reduce greenhouse gasses, and corporate social responsibility activities.LG Electronics said in its press release that the number of executives and employees participating in CSR activities increased from 27,888 in 2005 to 93,659 in 2015 and r

July 21, 2016

LG Chem Q2 net profit jumps 9.3% on petrochemicals sales

[THE INVESTOR] LG Chem, the battery and chemicals unit of LG Group, said on July 21 its net profit soared 9.3 percent in the second quarter largely due to improved petrochemicals margins on falling oil prices. Net income came in at 386 billion won (US$338 million) on a consolidated basis in the April-June period, compared with a profit of 353 billion won a year earlier, the company said in a regulatory filing.Operating income advanced 9.3 percent on-year to reach 616 billion won, while sales gai

July 21, 2016

LG completes Europe HQ relocation to Germany

[THE INVESTOR] South Korean tech giant LG Electronics has recently completed the relocation of its European headquarters from London to Germany’s Eschborn, an official from the tech firm said. “LG has already completed the relocation process of the European head office to Germany,” Cho Joong-kwon, an LG Electronics spokesperson, said, denying recent news reports that the company is moving its Europe headquarters out of London in the wake of "Brexit."“Related discussions were underway before the

July 21, 2016

LG to see W4tr in automotive parts sales by 2018

[THE INVESTOR] LG Electronics, which is making a big push on automotive parts business, is forecast to increase the sales to about 4 trillion won (US$3.5 billion) in the next two years, according to analyst estimates on July 20. The company’s auto parts business division is expected to post more than 600 billion won in sales in the second quarter. Last year’s sales reached 1.8 trillion won. A see-through image of GM’s upcoming full-electric Bolt. LG Electronics will supply 11 key parts, includin

July 20, 2016

LG Display doubles 65-inch OLED panel production in Q2

[THE INVESTOR] LG Display, the display-making unit of LG Group, has almost doubled production of its 65-inch organic light-emitting diode panels in the second quarter as more TV manufacturers are adopting the larger OLED display. According to UBI Research, a local research firm specialized in OLED, the company shipped a combined140,000 OLED panels in the April-June period. Of them, the 65-inch panel made up 28,000 units, doubling from some 14,000 units in the first quarter. The increased shipmen

July 20, 2016

LG Electronics launches W40m OLED TV

[THE INVESTOR] LG Electronics on July 19 unveiled a new 77-inch organic light-emitting diode TV with a hefty price tag of 40 million won (US$35,000), the latest model of its ultra-premium Signature brand that was launched in March. LG said it plans to launch the newest TV in phases in other markets such as North America, Europe and Asia with aims to strengthen its leadership in the premium TV market. LG Electronics' new 77-inch organic light-emitting diode TV / LG ElectronicsThe highest-priced O

July 19, 2016