Premium TVs drive record revenues for LG
January 25, 2018
LG Electronics has announced record full-year revenues for 2017 of KRW 61.4 trillion (€44.7m), an increase of 10.9 per cent from the previous year, the highest in the company’s history. Full-year 2017 profits of KRW 2.47 trillion – the highest profit since 2009 – increased 85 per cent from 2016 due in large part to strong performance by premium home appliances and TVs.
The LG Home Entertainment Company reported full-year revenues of KRW 18.67 trillion, a 7 per cent increase from the previous year. Strong full-year operating profit of KRW 1.57 trillion reflected the continued growth in demand of premium LG OLED and UHD TV products. Fourth-quarter 2017 sales were strong, up 14 percent year-over-year to KRW 5.48 trillion thanks to increasing demand for LG premium TVs.