LG, which has had a pretty poor couple of years, claims that it has turned the corner.
Spokesman Jeong Jung-wook. told the Korea Times that the LG Group is recovering with the group’s export-driven affiliates including LG Electronics, LG Display, LG Chem and LG Innotek leading the way.
Jeong admits that last year wasn’t good, but this year we have no doubt that the group will regain its power buoyed by the brighter performance of LG Group companies, he said.
The finance markets are tending to agree that LG Electronics has got its nadgers out fo the fire for now. It will be back into operating profit for the first three months of this year.
LG Innotek is also expected to see a turnaround in the current quarter, ending losses for the two previous quarters. LG Display will recover in the second quarter with its operating profit for the April-June period .
Part of the cunning plan to get it out of trouble has been to come up with new technology. In smartphones, for example, LG has been seen rolling out advanced smartphones using long-term evolution (LTE) wireless technology.
LG has managed to shift more than 2 million Optimus-branded LTE phones and 600,000 of them during the first three months the phone was available.
It has pushed flat screen TVs using organic light-emitting diode (OLED) technology and LG’s 3D TVs seem to be increasing. Its own film-patterned 3D technology is steadily gaining popularity, the Korea Times said.