[Concall] LG Electronics "Home Appliance Subscription Business Sales 1.3 Trillion Won... Considering Entry into India"

Kim Ikwon, Executive Vice President of LG Electronics H&A Management, stated during the Q3 earnings conference call on the 24th that regarding the home appliance subscription service, "We expect sales from subscription businesses in Korea and overseas to continue expanding, and we are executing the expansion of overseas subscription businesses based on our business competitiveness and experience in the Korean market." He added, "As the company's home appliance subscription business, centered on large home appliances, continues to grow in the Korean market, cumulative sales for Q3 this year have exceeded 1.3 trillion KRW, growing more than 50% compared to the same period last year."

Kim said, "Accordingly, the subscription sales ratio has increased from about 15% last year to over 20% currently," and "the operating profit margin is maintaining double digits."

He further explained, "Regarding overseas business, based on the achievements of the domestic business, we are gradually expanding the subscription business in Asian regions such as Malaysia, Taiwan, and Thailand. Malaysia continues to see growth in subscription business centered on large home appliances, and Taiwan and Thailand launched subscriptions in October through the establishment of systems and infrastructure by sector." He added, "Although it is difficult to specify the exact schedule, we are diversely reviewing business feasibility for entry into India and other Asian countries."

LG Twin Towers, Yeongdeungpo-gu, Seoul Photo by Yonhap News