LG sees record H1 revenues
July 30, 2019
LG Electronics saw record second quarter and first half revenues with consolidated sales of KRW 15.63 trillion (€12bn) and operating profit of KRW 652.3 billion for the period covering April-June 2019. Compared to the same period last year, sales were 4.1 per cent higher with operating income down 15.4 per cent.
The LG Home Entertainment Company generated Q2 revenues of KRW 3.67 trillion, a decrease of 4.5 per cent from the same period the previous year due to a decline in demand in regions such as Europe and Latin America where major sporting events in the second quarter of 2018 generated strong sales. Operating income of KRW 205.6 billion declined from the previous quarter due to higher investments in light of greater competition in key markets and exchange rate depreciation.
The business unit said it expects to see a growth in demand in premium products such as OLED TVs, NanoCell TVs and large-screen Ultra HD TVs next quarter.