LG Q1 Report 2024

• Sales
• Though recovery of market demand is delayed due to the continued slowdown in the global economy, with tangible signs of a gradual recovery in emerging markets, sales increased year-on-year on the back of two-track strategy of launching differentiated products and expanding price coverage, as well as expansion of new business areas including subscription and online businesses

• Profit 
• Despite leverage effect, material cost reduction and logistics cost stabilization, decreased year-on-year due to increased marketing expenses to address competition in the market 

Highlights

• Business Environment
• Difficult business environment is expected to persist, due to high interest rates maintained in major countries caused by continued inflation, increasing uncertainties in international situations, and instable oil prices stemming from fluctuations in crude oil supply
• Key Strategies
• Pursue qualitative growth by accelerating the shift in portfolio by innovating our business models
• Deploy differentiated market strategies to flexibly respond to changes in demand