LG Ittno LED business blessing Q2 turnaround

[High-tech LED News] South Korea's LG Itnotek (INNOTEK) recently released the company's Q2 sales revenue. According to International Financial Reporting Standards, LG Ittno Q2 sales amounted to 11.3 million won (equivalent to RMB 6 certain 195.6 million), a 6.7% increase in the quarter, an annual increase of 14%, and successfully turned losses into profits, which is the company's historical performance. The best quarter, but operating profit of 5.9 billion won, an annual reduction of 93%.

Among them, sales of LED components increased by 34% to 272.8 billion won, which is the main source of growth for LG Innotex Q2. LG Innotet said that the main demand for 3D TV, tablet LED BLU, and the growth of LED lighting module sales.

LG Innotet pointed out that due to the overall stagnation of TV, mobile phone and other industries, the company achieved the highest quarterly sales performance in the history of LED and materials, and revived in the active activities to reduce costs. Sales in the display and network sectors declined by only 1%, with sales of 255.7 billion won.

In addition, LG Innote said that by optimizing the project structure and expanding the development of new areas such as LED lighting modules, touch screens and vehicle parts, it has laid a good foundation for continued growth in a difficult market environment.

LG Innotet pointed out that this year's Q3 display and semiconductor market will continue to be stagnant. The company will accelerate the improvement of corporate efficiency by improving resource investment efficiency and strengthening cost competitiveness.

                                                                    

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