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Home appliances, one-off gains drive LG Electronics' record Q1 profit, sales

It 14:53 April 28, 2022

SEOUL, April 28 (Yonhap) -- LG Electronics Inc. on Thursday said its first-quarter operating profit rose 6.4 percent from a year ago, fueled by sales of premium home appliances and one-off gains from patents licensing.

Its operating income came in at a quarterly record of 1.88 trillion won (US$1.47 billion), marking a 6.4 percent year-on-year rise.

Sales increased 18.5 percent to 21.1 trillion won in the January-March period, surpassing the market expectations and also marking the quarterly record for the company.

Its home appliance division logged quarterly record sales of 7.97 trillion won, with an operating profit of 447 billion won.

Its TV business earned 4.6 trillion won in sales and 188.4 billion won in operating profit, thanks to premium TV demand, the company said.

The photo shows the company logo of LG Electronics Inc. in front of its headquarters in Seoul on April 7, 2022. (Yonhap)


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