[Concall] LG Electronics "Global Home Appliance Demand to Show Moderate Growth Next Year"

LG Electronics stated during the conference call following the Q3 earnings announcement on the 27th that "demand for refrigerators and washing machines is expected to continue slowing in the fourth quarter," but added, "however, from next year, global home appliance demand is expected to shift to a moderate growth trend."

They also said, "In North America, concerns about low growth due to consumption pattern slowdown exist, such as an increase in essential value-for-money products amid income polarization and reduced disposable income. However, there is optimism for demand growth based on economic stimulus measures like interest rates, replacement of aging homes, and the Inflation Reduction Act (IRA)."

They continued, "In Europe, demand stagnation is expected to persist due to prolonged war, ongoing recession, and energy supply issues, but some growth is anticipated driven by replacement demand focused on affordable and high-efficiency products."

Regarding Korea, they explained, "Although the overall macro environment is expected to be unfavorable, with downward revisions to next year's economic growth forecast, there are markets with confirmed growth potential such as online and B2B rental markets, and we plan to target these demands to continue sales growth."

[Image source=Yonhap News]