LG Half-Year Report 2024
- Revenue grew year-over-year on the back of qualitative growth in core business including home appliance, TV and IT, and incubating business including webOS, despite impacts from EV demand slowdown.
- Operating profit made a significant increase year-over-year despite price increases in components including LCD panels, thanks to the sales leverage effects and expanded sales contribution of highly-profitable B2B business.
- Balanced qualitative growth in both core and incubating business, transform business models, expand domains, and innovated business methods to build a more future-oriented portfolio.
- 2024 performance Sales has been polarized, with developed countries experiencing a gradual market recovery amid global economic uncertainties, while emerging markets are seeing strong growth. We achieved revenue growth compared to the same period last year by strengthening differentiated product promotion, expanding price coverage, and generating results in new business areas including subscription and online.
- By tapping into the momentum of growing demand for TVs in Europe, we were able to increase hardware sales including OLED TVs. webOS-based advertisement and content business continued to grow, driving up the sales significantly year-over-year
- Despite demand stagnation of the EV market, we were able to grow sales slightly year-over-year on the back of increased demand for high-value-added components of infotainment and ADAS.
