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LG Shows Record Operating Profit In 2021. Mobile division is still at a loss
29.01.2021 [17:32],
Sergey Karasev

LG Electronics (LG) has published financial results for 2021: despite the pandemic, difficult economic environment and business challenges, the South Korean manufacturer showed an increase in performance.

Photos by Reuters

LG’s fourth-quarter revenue was $ 16.76 billion, up 16.9% year-on-year. Over the past year as a whole, the company received $ 56.45 billion in revenue.

It is noted that in 2021 the operating profit of the company set a new record – $ 2.85 billion, which is 31.1% more than in 2021. Strong sales of OLED TVs and premium home appliances fueled this impressive growth.

The division of LG Mobile Communications Company, which is also responsible for smartphones, brought in $ 4.66 billion in revenue last year. Operating losses in this area amounted to $ 750.63 million. LG is reportedly already in talks to sell its smartphone business to Vietnamese conglomerate Vingroup.

Department of household appliances LG Home Appliance & Air Solution Company in 2021 showed a record revenue – $ 19.87 billion. Operating income also hit new highs at $ 2.10 billion.

LG Vehicle Component Solutions Company revenue of $ 5.18 billion. Another $ 11.76 billion was brought by the home entertainment department of the LG Home Entertainment Company. Revenue of LG Business Solutions Company amounted to $ 5.36 billion.

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