Sales increased by 3.2% and operating profit by 20.2% compared to the same period last year.

LG Electronics announced its preliminary results for the first quarter of this year. On a consolidated basis, the company achieved sales of 15.1283 trillion won and an operating profit of 1.1078 trillion won. This marks the highest sales and operating profit in the company's history for a first quarter. First-quarter sales increased by 3.2% year-on-year, while operating profit rose by 20.2%.

The preliminary results are estimates based on Korean International Financial Reporting Standards (K-IFRS). Consolidated net profit and specific results by business unit will be announced at the earnings conference scheduled for the end of this month.

LG Electronics has been disclosing preliminary results since the first quarter of 2016 to deliver business performance information to shareholders and investors more quickly and effectively.

At the same time, Samsung Electronics announced preliminary results for the first quarter of 2018, with consolidated revenue of 60 trillion won and operating profit of 15.6 trillion won.

Sales decreased by 9.06% compared to 65.98 trillion won in the previous quarter, but increased by 18.69% compared to 50.55 trillion won in the same period last year. Operating profit increased by 2.97% compared to 15.15 trillion won in the previous quarter and by 57.58% compared to 9.90 trillion won in the same period last year.