LG Electronics Surpass the 80 Trillion Won Sales Threshold while Operating Income Down by 12.5% YOY
NSP NEWS, By hYUNJIN KIM Journali
END7, Read 0(Seoul=NSP News Agency) hYUNJIN KIM Journalist = LG Electronics recorded 83.4673 trillion won of consolidated sales and 3.5510 trillion won of operating income for 2022.
Its annual sales increased by 12.9 percent YOY, showing double-digit growth for two years in a row and surpassing the 80 trillion won threshold in its history.
The leading Korean electronics company set a new record in just a year, followed by 2021's consolidated annual sales of 70 trillion won. Its key businesses, home appliances and automotive electrics businesses, were two major drivers with their highest sales in 2022 to set a new record in its company history. The annual operating income decreased 12.5 percent YOY due to global inflation trends, weak consumer confidence from increased interest rates, and growing costs from the fiercer competition.
Its annual sales increased by 12.9 percent YOY, showing double-digit growth for two years in a row and surpassing the 80 trillion won threshold in its history.
The leading Korean electronics company set a new record in just a year, followed by 2021's consolidated annual sales of 70 trillion won. Its key businesses, home appliances and automotive electrics businesses, were two major drivers with their highest sales in 2022 to set a new record in its company history. The annual operating income decreased 12.5 percent YOY due to global inflation trends, weak consumer confidence from increased interest rates, and growing costs from the fiercer competition.
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By business units, Home Appliance & Air Solution (H&A) division for home appliances earned 29.8955 trillion won, maintaining a higher growth rate for seven consecutive years.
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