[Concall] LG Electronics "3Q Sales Expected to Increase with Velvet and Mid-Low Range New Model Sales Expansion"

[Asia Economy Reporter Han Jinju] At the 2020 Q2 earnings conference call held by LG Electronics on the 30th, Seo Dongmyung, Head of Planning and Management at the MC Business Division, stated, "The global demand decline due to the spread of COVID-19 is expected to bottom out in Q2 and partially recover. Competition among companies will intensify due to the expansion of mid-to-low price lineups considering consumers' price sensitivity and the launch of new models."

Seo said, "In Q3, sales are expected to shift toward growth with an improvement trend in actual sales centered on key markets, along with the overseas launch of the Velvet and the full-scale sales expansion of affordable new models. Although some increase in marketing expenses is anticipated due to new model launches, we will strive to improve profitability compared to the same period last year and the previous quarter."

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