LG Electronics has announced first-quarter 2021 consolidated sales of KRW 18.81 trillion (€13.9bn) and operating profit of KRW 1.52 trillion – the highest quarterly results in the company’s history with the 8.1 per cent operating profit being a first-quarter record.
Compared with the first quarter a year ago, revenues grew by 27.7 per cent and profitability soared by 39.1 per cent, reflecting strong demand for LG home appliances and home entertainment products as consumers around the world continue to spend more time at home.
The LG Home Entertainment Company recorded sales of KRW 4.01 trillion in the first quarter, an increase of 34.9 per cent from the same period a year ago. Operating income grew 23.9 per cent year-on-year to KRW 403.80 billion, buoyed by strong sales in North America and Europe.
Premium products led by OLED and NanoCell TVs continued to experience strong demand as the pandemic effect continued in most of the world. To maintain this success in 2021, LG says it will “continue to enhance its premium product line-up, further expand online sales, optimise resources and streamline asset management.”