Shulou(Shulou.com)11/24 Report--

CTOnews.com, October 10, LG Electronics today released preliminary earnings figures for the third quarter of 2023.

The company reported consolidated revenue of 20.7 trillion won in the third quarter (CTOnews.com Note: currently about 111.78 billion yuan) and operating profit of 996.7 billion won (currently about 5.382 billion yuan), the second highest Q3 data in the company's history, and operating profit increased by more than 30 per cent compared with the same period last year and the second quarter of 2023.

LG Electronics Automotive Solutions continued to maintain a rapid growth trend in the third quarter, with an order backlog expected to reach 100 trillion won by the end of the year, while supply chain management remained stable and growth accelerated. From the perspective of profitability, there are also economies of scale due to sales expansion. The company expects annual sales to exceed 10 trillion won for the first time this year. LG is speeding up the establishment of a regional production base in response to the shift to electric vehicles from major global customers.

LG Home Entertainment is accelerating its business transformation from a product-based business to a media and entertainment platform as the content and services business continues to grow. To this end, in addition to expanding its cooperation with various content providers, the company recently upgraded its TV operating system for the first time in the industry to expand its customers' content experience. By 2026, the number of televisions driven by webOS, which is based on the content and service business, is expected to reach 300 million.

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