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Industry News

Published on February 1st, 2019 | by The GC Team

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LG announces record full-year revenues in 2018

 

LG Electronics Inc. has announced record full-year revenues of KRW 61.3 trillion (USD 54.4 billion) in 2018, exceeding sales of 60 trillion won for the second year in a row. Full-year profit of KRW 2.70 trillion (USD 2.40 billion) increased nearly 10% from 2017. The Home Appliance and Home Entertainment businesses each recorded their “highest annual profit in LG history.”

The LG Home Appliance & Air Solution Company reported full-year 2018 revenues of KRW 19.36 trillion (USD 17.17 billion), an increase of nearly 5% from the previous year, generating a profit of KRW 1.52 trillion (USD 1.35 billion.) This is LG’s strongest performing unit in 2018, and is expected to again “lead the company this year with strong demand for premium products.”

The LG Home Entertainment Company recorded full-year revenues of KRW 16.21 trillion (USD 14.37 billion) with a record profit of KRW 1.52 trillion (USD 1.35 billion) “thanks to the strengths of LG’s premium product lineup.”

The LG Mobile Communications Company reported a full-year operating loss of KRW 790.1 billion (USD 700.65 million.) 2018 revenues of KRW 7.98 trillion (USD 7.08 billion) with sales in the fourth quarter totalling KRW 1.71 trillion (USD 1.51 billion), a decrease of 16%.

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