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LG Spills the Beans on its Fourth-Quarter 2023 Earnings in a Sneak Peek

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World’s leading tech giant, LG, has been making a huge set of remarkable achievements, and its annual consolidated revenue of KRW 84 trillion proves its ground in the tech and innovation arena. The company inscribes the third consecutive year of attaining a whopping annual revenue.

The company also disclosed the operational and upscale revenue of KRW 3.5 trillion, displaying the immutable business performance of the company despite unprecedented constraints from delayed demand recovery to inevitable, scooping market competition.

The high annual business came into effect by being attributed to the indestructible brewed formula of LG’s core business, which stood up beside the company to witness the outgrowth and presumably the growth outshined in B2B sectors, withholding the fort like never before. The annual operating profit has shown sturdy growth, touching the edge of the pinnacle and reaching higher levels comparable to the preceding year.

In addition, the company secured a nice spot in the home appliance & air solution business. LG is anticipated to have accomplished an annual revenue milestone of KRW 30 trillion. Strategic market approaches, including expanding volume zone lineups while keeping premium leadership, played a vital role in this success. B2B expansion in areas like HVAC, components, and built-in appliances further contributed to overall growth.

The vehicle component solutions business flourished and bloomed like a magic plant within a decade and is anticipated to have exceeded KRW 10 trillion in annual revenue, becoming one of LG’s core businesses. LG will further exacerbate the efforts to maintain and secure the capabilities in the evolving trend of software-defined vehicles while aiming for growth in volume.

Despite encountering unexpected challenges in key markets like Europe, the home entertainment business experienced meaningful growth in webOS content and services. This year, the expansion of the webOS ecosystem will extend beyond TVs to encompass smart monitors, in-vehicle infotainment, and other areas.

The business solutions company is concentrating on the early commercialization of key areas such as EV charging and robotics. As a leader in LG’s B2B business, the segment aims to accelerate the shift from supplying single products to integrating and providing adjacent solutions. The ramification of LG is often scheduled to be cast to the forthcoming years to exhibit the same set of performances and keep the drastic outcome of revenue. Building and eliciting new innovations by creating a forum of newfound business, retaining the company to stand out in the crowd as a truly resilient brand.


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