LG Innotek Q1 Operating Profit 367.1 Billion KRW... Up 5.8% YoY

High-Performance Camera Modules and Semiconductor Substrates Drive Smartphone Component Performance

LG Innotek (CEO Jeong Cheol-dong) announced on the 27th that it recorded sales of KRW 3.9517 trillion and an operating profit of KRW 367.1 billion in the first quarter of this year based on Korean International Financial Reporting Standards (K-IFRS). Sales increased by 28.7% and operating profit by 5.8% compared to the same period last year.

The optical solutions business recorded sales of KRW 3.0885 trillion, a 33% increase compared to the same period last year. This was the result of continued supply to customer new models focused on high value-added products such as multiple camera modules and 3D sensing modules, despite the usual seasonal off-season.

The substrate materials business recorded sales of KRW 415 billion, a 16% increase compared to the same period last year. It maintained solid performance centered on semiconductor substrates for 5G communications, such as substrates for radio frequency package systems (RF-SiP) and substrates for 5G millimeter-wave antenna-in-package (AiP).

The automotive components business recorded sales of KRW 313.8 billion, an 18% increase compared to the same period last year and an 8% increase compared to the previous quarter. Sales increased across all product lines of automotive components, including communication modules and power components for electric vehicles and autonomous driving.

Despite the challenging market environment, including the global vehicle semiconductor supply issues, the automotive components business is focusing on improving profitability through enhancing order soundness.

A company official said, "Despite the seasonal off-season, strong demand for high-performance camera modules for smartphones and semiconductor substrates for 5G communications drove the performance," adding, "Sales increased across all product lines of automotive components, including communication modules and power components for electric vehicles and autonomous driving, supporting the results."

This content was produced with the assistance of AI translation services.