Post by account_disabled on Dec 16, 2023 22:47:21 GMT -5
Seoul, January 31, 2023 — LG Electronics, Inc. (LG) announces annual results. 2022 at 83.5 trillion won (or approximately 2.21 trillion baht) with an operating profit of 3.6 trillion won (or approximately 95.4 billion baht) In 2022, LG achieved its highest-ever operating results. For the first time, annual turnover exceeded 80 trillion won (or approximately 2.12 trillion baht), and grew 12.9 percent compared to 2021, the year in which sales exceeded 80 trillion won (or approximately 2.12 trillion baht). 70 trillion won (or approximately 1.86 trillion baht) for the first time. This record sales reflect continued growth driven by strong fundamentals. Although operating profits throughout the year will continue to be affected by challenges arising from the ongoing fluctuation of the global economy, LG's revenue growth in 2022 is primarily driven by sales of its premium home appliances and automotive parts segments.
Sales of home electrical appliances are likely to continue to grow for the seventh year. Meanwhile, the recovery of LG's Automotive Parts Solutions business in 2022 reflects the continued improving growth trend of the automotive industry. As a result, the business exceeded 10 percent of LG's total revenue for the first time. Home electrical appliances product groupand air conditioner Setting another Email Data record in 2022 with revenue of 29.9 trillion won (or approximately 792 billion baht), an increase of 10.3 percent from the previous year. This is the result of using a strategy to offer premium products that come with unique technology. including the LG Styler™ clothes care cabinet, the LG WashTower™ washing machine and dryer in a single tower, and the LG InstaView refrigerator with the Craft Ice™ feature, while operating profits in 2022 Decreased from last year by 1.1 trillion won (or approximately 29.2 billion baht) due to increased investment in marketing and higher logistics costs. LG has laid out a strategy that focuses on offering Premium products that meet the needs of consumers by enhancing competitiveness.
Strengthen popular products Ready to manage cost structure to increase profitability. In addition, it is also accelerating the growth of the smart home ecosystem by expanding its upgradeable home appliances business into overseas markets. Home Entertainment Business Group Announced annual operating results for 2022 at 15.7 trillion won (or approximately 416 billion baht), with operating profits of 5.4 billion won (or approximately 143 billion baht), although Reduced global TV demand will impact revenue and operating profits compared to 2016. 2021, but the content and services business on LG's Smart TV platform has grown 10 times since 2018 amid a still challenging business situation. The company will continue to focus on expanding its Smart TV platform business to diversify its business segment and accelerate future growth.
Sales of home electrical appliances are likely to continue to grow for the seventh year. Meanwhile, the recovery of LG's Automotive Parts Solutions business in 2022 reflects the continued improving growth trend of the automotive industry. As a result, the business exceeded 10 percent of LG's total revenue for the first time. Home electrical appliances product groupand air conditioner Setting another Email Data record in 2022 with revenue of 29.9 trillion won (or approximately 792 billion baht), an increase of 10.3 percent from the previous year. This is the result of using a strategy to offer premium products that come with unique technology. including the LG Styler™ clothes care cabinet, the LG WashTower™ washing machine and dryer in a single tower, and the LG InstaView refrigerator with the Craft Ice™ feature, while operating profits in 2022 Decreased from last year by 1.1 trillion won (or approximately 29.2 billion baht) due to increased investment in marketing and higher logistics costs. LG has laid out a strategy that focuses on offering Premium products that meet the needs of consumers by enhancing competitiveness.
Strengthen popular products Ready to manage cost structure to increase profitability. In addition, it is also accelerating the growth of the smart home ecosystem by expanding its upgradeable home appliances business into overseas markets. Home Entertainment Business Group Announced annual operating results for 2022 at 15.7 trillion won (or approximately 416 billion baht), with operating profits of 5.4 billion won (or approximately 143 billion baht), although Reduced global TV demand will impact revenue and operating profits compared to 2016. 2021, but the content and services business on LG's Smart TV platform has grown 10 times since 2018 amid a still challenging business situation. The company will continue to focus on expanding its Smart TV platform business to diversify its business segment and accelerate future growth.