LG Electronics' Profit Plummets 54% in Fourth Quarter

LG Electronics reported an operating profit of 146.1 billion won for the fourth quarter of 2024. Revenue for the same period amounted to 22.78 trillion won.

While revenue increased by 0.2% compared to the previous year, operating profit decreased by 53.3%. Many securities firms had previously estimated that the operating profit for LG Electronics in the fourth quarter of last year would be around 397 billion won.

In 2024, consolidated revenue reached 87.74 trillion KRW, and operating profit was 3.43 trillion KRW. This marks a new record for the highest annual revenue in the company’s history.

In its statement, LG emphasized its focus on strengthening its core competitiveness in areas such as quality and cost while maximizing efforts to achieve a solid profit structure through fixed cost efficiency.