Despite the fact that LG Electronics is leaving the smartphone market, in general, things are doing very well for the company. The South Korean giant released its preliminary first quarter 2021 report and the results exceeded all expectations. Both revenues and operating income were up strongly compared to the same quarter last year.
Consolidated revenue from January to March 2021 was approximately $ 16.8 billion. Profit for the quarter was $ 1.3 billion. Looking at the results in the first quarter of 2020, revenues increased by 27.7% and profits increased by 39.2%.
These are preliminary figures and a final report is expected later this month. As the company withdraws from the smartphone world, analysts expect some internal restructuring that will cut costs and remove the negative impact of the mobile division.
LG officially confirmed this week that it will gradually close its smartphone business. However, some of the company’s smartphones will receive planned updates not only to Android 11, but also to Android 12.
In addition, sources have published real photos of the latest flagship smartphones of the South Korean company LG, which are passing under the working names LG Rollable and LG Rainbow.