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The Korea Herald
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THE INVESTOR
March 28, 2024

LG

LG Electronics sees slight profit increase in Q2

  • PUBLISHED :July 27, 2017 - 16:47
  • UPDATED :July 27, 2017 - 16:48
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[THE INVESTOR] LG Electronics said on July 27 it saw its profits improve slightly during the April-July period thanks to the stable sales growth of its home appliance and TV businesses.

Announcing its second quarter earnings on the day, the firm said it posted 664.1 billion won operating profit, up 13.6 percent from a year earlier, with its revenue standing at 14.55 trillion won.




By division, the home appliance and air solution unit generated 465.7 billion won operating profit, up 7.4 percent on-year, with the revenue coming in at 5.25 trillion won, up 11.7 percent. The company said the sales of its flagship air conditioners, washers, as well as water purifiers drove the profit improvement.

The home entertainment unit’s operating profit improved 8.1 percent during the same period to 343 billion won while the revenue dropped by 3.8 percent. The reduced margin in the TV business due to the price hike of display panels was attributable to the decreased operating profit, the firm said.

Both mobile communications and vehicle components divisions posted an operating loss of 132.4 billion won and 16.4 billion won, respectively.

Sales of the tech giant’s flagship G6 is said to have fallen short of getting LG’s sluggish mobile business back on track.

By Kim Young-won (wone0102@heraldcorp.com)

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