LG’s record profits show Samsung missed out on OLED TVs

LG just announced record earnings for its first three months of the year, making 1.11 trillion won ($1.03 billion) in profit off 15.12 trillion won ($14.1 billion) in revenue — the highest first-quarter figures in company history. The standout performer was LG’s home entertainment division, which reported a 76.5-percent increase in operating profit year on year, largely driven by the sale of high-end OLED and “Super UHD” LED 4K TVs. LG says it’s seeing “rapid growth” in the premium TV market.

LG’s biggest rival, perennial TV market leader Samsung, is also focusing on higher-end sets, but saw revenue slide the same quarter as it removed less expensive products from its lineup. Both companies expect TV sales to be strong in the second…

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