Reports highest profit in 9 years.
LG has recorded full-year revenue of KRW 61.4 trillion ($70 billion) for 2017 – a year-on-year increase of 10.9% – the highest in the company’s history. Meanwhile, full year profits hit KRW 2.47 trillion ($2.87 billion) – the highest profit since 2009 and an increase of 85% from 2016, largely attributed to strong performance in premium appliances and TVs.
2017 revenues for the home appliance and air solutions business were KRW 19.23 trillion ($2.23 billion), an 11% increase from the previous year, reflecting strong demand for premium products such as TWINWash washing machines, InstaView refrigerators and energy-efficient home appliances.
2017 revenue increased by 7% to KRW 18.67 trillion for the home entertainment business due to continued growth in demand of premium LG OLED and UHD TV products.
Full-year sales for the mobile communications business were KRW 11.67 trillion, despite a challenging marketplace and strong competition from Chinese brands. The LGV30 has experienced strong sales, along with other premium smartphones and an improved business structure.