[Concall] LG Electronics "Home Appliance Division Expected to See Decline in Both Sales Growth Rate and Profitability This Year"

LG Electronics announced on the 27th that it recorded consolidated sales of 74.7216 trillion KRW and an operating profit of 3.8638 trillion KRW last year. A view of products displayed at an LG Electronics Best Shop in Seoul [Image source=Yonhap News]

[Asia Economy Reporter Lee Hyeyoung] LG Electronics stated in a conference call on the 27th regarding last year's performance outlook for the H&A Business Division, "The sales growth rate in the home appliance sector is expected to decline slightly compared to the previous year, and profitability will also decrease due to increased costs such as raw material prices and logistics expenses. Regionally, demand growth in North America is expected to slow compared to last year, but we will pursue sales expansion through differentiated products and supply stabilization. In Europe, consumption levels are expected to remain stable, so we will continue to expand market share by increasing the range of products with competitive price-performance ratios."

They added, "In the Korean market, activities such as the recently announced 'UP (Up) Appliances,' new product launches, price increases, and cost improvement efforts will continue."