April 18, 2024

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Despite a challenging environment, new growth categories of home appliance sales were strong and it managed to improve profits through premium TVs. For further growth in profits next year, though, loss-making sectors need to rebound. Its vehicle components unit will be able to turn to black next year, reflecting earnings from ZKW. By the year-end the unit’s backlog order amount will reach 40 trillion won, said analyst Kim Rok-ho.

He however lowered the operating profit estimates for both this year and next by 2 percent and the target price to 108,000 won (US$94.85) from 115,000 won.

By Hwang You-mee (glamazon@heraldcorp.com)