LG: revenues grew by 28.7% in 2021

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LG Electronics continued its strong performance in 2021, with full-year sales of KRW 74.72 trillion (USD 63.16 billion). This increase of 28.7 percent over 2020 was attributed primarily to stronger sales of premium home appliances and OLED TVs. Operating profit of KRW 3.86 trillion (USD 3.27 billion) was essentially unchanged, declining 1 percent from the previous year. In particular, the LG Home Appliance & Air Solution Company saw revenues of KRW 27.11 trillion (USD 22.92 billion), an increase of 21.7 percent from 2020, driven largely by strong performance in new appliance categories such as hygiene products. Annual operating profit of KRW 2.22 trillion (USD 1.88 billion) was 2.9 percent lower than in the previous year due to higher costs for raw materials and global logistics. Fourth-quarter revenues of KRW 6.52 trillion (USD 5.52 billion) were 17.7 percent higher than the same period 2020.