LG Electronics, a conglomerate specialising in electronic products, revealed on 29 July that its revenue rose 15% in the second quarter of this year to 19.5 trillion Korean wons (14.6 billion euros) year-on-year.
It is the highest revenue ever recorded in a second quarter, the multinational said in a statement, adding that it reflects LG’s strong sales of home appliances in the main regions of the world, in addition to profitable growth in its vehicle components business as the automotive industry recovers.
Operating profit for the second quarter, meanwhile, was 792.2 billion Korean won (594 million euros), down 12% on the same period last year.
The drop in operating profit was largely due to the challenges inherent in the supply chain and high logistics costs, the multinational points out in the note distributed.
Given the impact of the evolution of the covid-19 pandemic and the current economic conditions on business, LG is “leveraging its portfolio”, expanding the “sales of premium products also to the more mass-market product areas”, and simultaneously expanding the sales areas in the B2B business, namely in the case of vehicle components, he adds.
08/01/2022
