Profitable business

LG Electronics shared its result of 2nd quarter of 2022. LG Electronics Inc. is a South Korean multinational electronics company headquartered in Yeouido-dong, Seoul, South Korea. It is a part of LG Corporation, the fourth largest chaebol in South Korea. Also, the electronics giant is often considered as the pinnacle of LG Corp with the group’s chemical and battery division LG Chem. The company comprises four business units: home entertainment, mobile communications, home appliances & air solutions, and vehicle components.

The South Korean company earned 194 billion and 7.922 billion South Korean Won as revenue and profit, respectively in Q2. Its business units, which are home entertainment and home appliances & air solutions, were struggling. This is because the demand for these products during the pandemic was over. It means that many of us in the world are getting back to our normal life and the demand is changing.

On the other hand, the vehicle components unit recorded profit for the first time in 6 years. In fact, the sales of the unit more 3 times than that in 6 years ago. Its main product is infotainment system and luxury segment automotive manufacturers including Mercedes-Benz are using it.

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