LG: market for electric cars will grow by ‘Tesla syndrome’

Apr

29

2016

The market for electric vehicle components will grow substantially next year by something that LG ‘Tesla syndrome’ calls. The South Korean company has a division dedicated to making electric vehicle spare parts.

The demand for such components will firmly grow this year, LG said at the presentation of the quarterly figures . Said “Tesla syndrome accelerates that trend, the manufacturer thinks. Thereby presumably the manufacturer refers to the impact of the brand on the whole market for electric cars. Earlier this month, Tesla announced its Model 3, of which there are already hundreds of thousands in a few weeks in advance to buy his.

Despite LG suffered a small loss on the division of components in electric cars. This would mainly come through investments in new components, including a new infotainment system that must later this year.

LG delivered 13.5 million smartphones last month, down 12 percent from the same period last year. This is after Apple, Microsoft and Sony, the fourth manufacturer which is struggling with declining supplies. It brings its G5 only this week, which has no effect on the now presented figures. However, the manufacturer has to pay marketing costs, which has a negative effect on the figures. Tweakers Thursday published a review of the G5.

LG expects deliveries of smartphones by the G5 and cheaper models will grow over time, although it thinks that smartphone makers go much competition in the near future on price. LG as a group took won a turnover of 13.36 trillion Korean, converted just over 10 billion euros. Operating income amounted converted currently about 391 million euros.

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