LG Electronics Surpasses 1 Trillion KRW in Cumulative Subscription Business Sales in Q3... Record High

LG Electronics announced on the 14th that the cumulative sales of its home appliance subscription business exceeded 1 trillion KRW in the third quarter of this year, marking an all-time high.

According to the Q3 report disclosed by LG Electronics on the same day, the cumulative quarterly subscription business sales amounted to 1.2386 trillion KRW (excluding care services), already surpassing last year's annual sales of 962.8 billion KRW.

At the Investor Forum held last August, LG Electronics set a sales target of 1.8 trillion KRW (including care services) for the subscription business this year.

Since starting the water purifier rental business in 2009, the company has strengthened its subscription business by expanding product categories and management and partnership services. Last year, it showed growth by expanding the subscription area to include not only home appliances but also refrigerators, washing machines, TVs, and laptops.

LG Electronics is expanding its subscription business not only in Korea but also in Asian regions such as Malaysia and Taiwan.