LG Electronics recorded more than fourfold increase in net profit in the first quarter of 2017 against the backdrop of strong financial indicators in the business of household appliances.

Net income LG amounted to 835.6 billion won (739.4 million US dollars), while a year earlier the profit was equal to 198 billion won, reports Yonhap News referring to the company's full financial report for the past three months.

The documentation also reports an operating profit of 921.5 billion won (816 million dollars), which is 82% more than a year ago and is LG's best result in almost eight years. The revenue of the South Korean vendor rose by 9.7%, to 14.7 trillion won (about $ 13 billion), as the preliminary estimate, previously announced in April, provided, "Reuters".

In terms of individual units, the largest contribution to revenues was made by LG in the area of ??home appliances and air conditioners, where operating profit rose by more than a quarter to about 521 billion won ($ 459 million). The rise in this segment was promoted by the demand for high-end models of refrigerators and washing machines.

In addition, operating income of 382.2 billion won ($ 337 million) is registered in the business related to home entertainment, which includes LG's TV division. Despite the rise in price of panels, the indicator grew by 14%. Compensate for negative factors was due to the growing sales of large-size TVs and high-end models with OLED and UHD-screens, which provide a large margin.

At the same time, mobile business LG suffered an operating loss of 200 million won (176 thousand dollars). Although losses have decreased, observers note that the unit does not leave the "red zone" for the eighth consecutive quarter. According to the company, in January-March 2017 it delivered 14.8 million smartphones, which is 10% more than in the same period of 2016.

New flagship smartphones LG G6, sales of which started in March, did not have time to significantly affect the results.

LG said it expects further revenue growth in the second quarter of 2017. Analysts believe that the company is likely to achieve its goal, thanks to efforts to promote home appliances and premium TVs. In addition, it is expected to reduce losses in the mobile unit, which should contribute to positive feedback from experts on the G6 and expand the geography of sales of new products.