LG and Samsung have been competing in the field of display, showcasing their novel display technology in international fairs one after another. Samsung revealed “the Wall,” the 146-inch Micro LED modular TV at the CES event in the beginning of the year and by the end of August, LG introduced its 173-inch Micro LED TV at the IFA. Aside from Micro LED, the two companies also fought against each other in the high-end TV market by releasing large sized OLED TVs.
The two Korean electronics giants have both revealed their financial results for the third quarter of 2018 and reported sales growth with their high-end TV products.
(Image: LG)
The revenue of LG Home Entertainment Company in the third quarter of 2018 was KRW 3.71 trillion (US$ 3.31 billion), generating profit of KRW 325.1 billion (US$ 289.9 million). According to the company, though demands for TV products in the developing markets have slowed down, sales of premium OLED and UHD TVs remained strong. LG plans to increase its focus on premium TV models in key markets to maintain profitability despite the overall sluggish TV market. The company has also cut jobs to intensify its strategy targeting OLED panels.
(Image: Samsung)
Meanwhile, Samsung reported profit growth with its OLED panels and high-end TVs as well. Its Display Panel segment posted a revenue of KRW 10.09 trillion (US$ 8.89 billion) and profit of KRW 1.10 trillion (US$ 969 million) for 3Q18. Total earnings for the Display Business increased QoQ due to increased shipments of both OLED and LCD panels. For the Consumer Electronics Division, with robust sales of premium TV products including QLED and TVs larger than 75-inches, the profit came to KRW 0.56 trillion (US$ 493.36 million), up by 10% QoQ and 27% YoY.
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