LG: strong sales of premium appliances

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LG Electronics announced third-quarter 2022 consolidated revenues of KRW 21.2 trillion, an increase of 14.1 percent from the same quarter last year. Operating profit for the third quarter was KRW 746.6 billion, 25.1 percent higher than the same quarter last year. In particular, the LG Home Appliance & Air Solution Company reported revenues of KRW 7.5 trillion in the third quarter, an increase of 5.8 percent from the same quarter last year. Operating profit of KRW 228.3 billion was lower than last year due to increased marketing investments and higher logistics costs. Revenue increase was driven by strong sales of premium appliances including new appliance categories such as hygiene products using steam technology in the key regions of North America and Europe.