Yonhap News Agency reported on October 28 that LG Electronics released a performance report on the 28th, and finally verified that its operating profit in the third quarter of this year increased by 25.1% year-on-year to 746.6 billion won (about 3.8 billion yuan). Sales increased by 14.1% year-on-year to KRW 21.1768 trillion, a record high in a single quarter.
In terms of business segments, the Auto Parts Solutions (VS) business segment posted an operating profit of KRW 96.1 billion, making profits for two consecutive quarters. Sales increased by 45.6% year-on-year to KRW 2.3454 trillion, surpassing KRW 2 trillion for two consecutive quarters, a record high.
Operating profit in the Home Appliances (H&A) business unit decreased year-on-year to KRW 228.3 billion, due to higher logistics and marketing costs. However, sales increased by 5.8% year-on-year to 7.473 trillion won, the highest in a single quarter. According to analysis, the success is due to the popularity of the products in developed countries such as Europe and the United States, as well as the good sales performance of high-end products.