LG Electronics Achieves Record First-Quarter Revenue of 23.7 Trillion Won

LG Electronics recorded total consolidated revenue of 23.733 trillion won in the first quarter of this year, achieving its highest-ever first-quarter performance. Operating profit stood at 1.6736 trillion won, a sharp 32.9% increase compared to the same period last year. The preliminary results were announced on the 7th.

This performance was driven by the sustained market position of its core home appliance (H&A) business and the expansion of its business-to-business (B2B) segments, including the vehicle solutions (VS) division, amid a challenging global economic environment.

By business segment, the home appliance division pursued a 'two-track' strategy targeting both premium and entry-level products, while also expanding new business models like appliance subscriptions. The home entertainment (HE) business successfully returned to profitability in the last quarter due to a focus on operational efficiency. The vehicle solutions business saw improved profitability driven by a stable order backlog and favorable exchange rates. However, the air solution (ES) business experienced a slight decline in performance due to geopolitical uncertainties.