LG Electronics has announced record full-year revenues of KRW 61.3 trillion (GPB 41.8 billion or USD 54.4 billion) in 2018, exceeding sales of 60 trillion won for the second year in a row.
Profitability from the appliances and home entertainment sectors was the highest in LG history, with an increase of nearly 10 per cent from 2017 to KRW 2.70 trillion (USD 2.40 billion).
The company reported that fourth quarter revenues were higher than the third quarter in 2018, but seven per cent lower than the last quarter of 2017 due to lower mobile products sales.
The LG Home Entertainment Company recorded full-year revenues of KRW 16.21 trillion (USD 14.37 billion) with a record-high profit of KRW 1.52 trillion (USD 1.35 billion).
Going forward, the manufacturer reported that it intends to grow both revenue and operating profit by focusing on increasing sales of premium OLED TVs and large-screen Ultra HD TVs.