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LG Electronics Has Announced Record Profits For Last Year

LG Electronics has announced its annual revenue for last year, and to say that it’s impressive would be an understatement. The company has gone on to earn an absolutely huge amount of revenue – USD 54.4 billion, to be exact, while also going big on the profit – racking up a record USD 2.4 billion for the year 2018. Interestingly enough, the company’s profit for 2018 is 10 percent higher than that in 2017.

These impressive numbers come even though the company’s decline in its mobile division has continued – even through 2018. The mobile division for the South Korean manufacturer raked up a yearly revenue of only USD 7.08 billion for the year 2018, incurring liabilities which were seemingly in excess of USD 700 million, covering the cost of operation. However, even though the company’s mobile division hasn’t seen the performance as the company might have wanted over the past couple of years, LG has indeed disclosed that the mobile division for the company has indeed been showing signs of improvement as a result of better control over spending, as well as better control over inefficiencies.

One way you might assume for LG to get back on the sales ladder might come as a result of the V50 ThinQ 5G phone, along with the LG G8 that the company is gearing up to launch at the MWC next year. LG has also gone on to hint a few times that the company will rely on operator-driven markets – (and these would include the likes of the North American, and the Korean market), for the stable sales this year.

LG home entertainment racked up a record profit of USD 1.35 billion. LG Home Appliance also posted a record amount of profit – that being USD 1.35 billion, and hence with that said, it became the company’s strongest performing unit based in 2018.―Netmag

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