[Concall] LG Electronics, "Demand for Consumer IT Products like Notebooks Will Continue to Be Sustained"

[Asia Economy Reporter Eunmo Koo] LG Electronics forecasted that the demand for consumer IT products such as laptops will continue to be sustained.

Chunghyun Park, Executive Vice President of LG Electronics BS Management, responded on the afternoon of the 29th during the Q2 2021 earnings conference call to a question about the future demand outlook for consumer IT products like laptops amid the expansion of COVID-19 vaccine distribution: “The future demand outlook is that due to the prolonged COVID-19 situation, lifestyle patterns have changed, and remote work and online education are not temporary phenomena but general trends, so the current level of demand will continue to be sustained.”

He continued, “According to the 2021 annual forecast released by market research firm IDC, the overall monitor market is expected to grow by 11% year-over-year, and gaming monitors are expected to see high growth of 54%. For 2022, the overall monitor market is expected to slightly decline year-over-year, while gaming monitors are expected to grow by about 6%.”

Furthermore, he added, “While we are closely monitoring market trends due to volatility in untact demand amid expectations of economic recovery, no significant changes have been detected yet. We will focus on sales of high-end product lines such as large-screen monitors, gaming monitors, and high-performance ultra-light laptops, while continuously expanding business opportunities in the business-to-business (B2B) office market.”