[Special Stock] LG Electronics Hits New Low Amid Record Q1 Sales and Expected Operating Profit Decline
[Asia Economy Reporter Lee Seon-ae] Despite expectations that LG Electronics will announce record-high first-quarter sales on the 7th, its stock price showed a sluggish performance, even hitting an intraday 52-week low. This is interpreted as concerns over a decline in operating profit having a greater impact.
As of 10:10 AM on the 7th, LG Electronics was trading at 114,000 KRW. The stock price, which started at 113,000 KRW that day, hit 112,500 KRW during the session, marking a 52-week low.
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Meanwhile, LG Electronics is scheduled to announce its first-quarter results on the same day. Sales are expected to reach 19.9 trillion KRW, with operating profit estimated at 1.36 trillion KRW. In particular, driven by increased sales of premium home appliances and TVs, sales are projected to be the largest ever for a first quarter. However, operating profit is expected to decline due to rising raw material costs.
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