LG brought in the highest revenue in history in the first quarter of 2022-Hi-tech fashion

LG just posted its highest quarterly revenue on record, reflecting strong demand for premium home appliances and car parts.

On May 6, LG Electronics (LG) announced its first quarter revenue of 2022 – 21.11 trillion won (about 17.53 billion USD), an increase of 18.5% year-on-year. 2021. This is the highest quarterly revenue in the company’s history.

LG achieved record sales in the first quarter of 2022.

In which, LG recorded an operating profit of 1.88 trillion Won (about 1.56 billion USD). This reflects the high consumption demand of consumers for LG-branded products, aiming to upgrade, build a healthy living space and save energy.

The most prominent was the Home Entertainment Equipment segment – which reported revenue of 4.06 trillion Won ($3.38 billion) and operating profit of 188.40 billion Won ($156.44 million). This success is due to the company’s wide range of smart TV product lines, possessing a unique design combined with outstanding technology.

LG OLED LifeStyle TV.

LG owns top quality TV lines, making an impact in Europe and North America. The LG OLED Objet Collection has won the Best Gold Award at the iF Design Awards – a prestigious international award system for leading design in the world.

LG home appliances & air solutions segment recorded first-quarter revenue of 7.97 trillion Won ($6.62 billion) with operating profit of KRW 447.60 billion ($371.68 million). ). Sales increased 18.8% year-over-year and reached the company’s highest quarterly revenue yet. All thanks to the business performance from high-end home appliances and new devices (health care products using steam technology). The industry is expected to continue to grow as the company expands internationally and launches new devices.

LG products win awards.

LG Car Components Solutions posted sales of 1.88 trillion won ($1.56 billion) in the first quarter of 2022. Sales increased by 8.5% year-on-year. The cause may be the current shortage of car semiconductors. As a result, the business unit’s Q1 operating loss is falling to 6.30 billion Won ($5.23 million).

Meanwhile, Q1 revenue of LG Business Solutions segment improved to 2.02 trillion won ($1.67 billion), up 23.7% year-on-year. This success was mainly due to sustained demand for monitors and personal computers and the revival of the B2B segment and LG product performance.

In general, the financial results of the first quarter of 2022 are a positive signal, creating a springboard for LG’s development in the coming time.