Sees Q2 revenue at 21.7 trln won, up 8.5% (Il Sole 24 Ore Radiocor) - Seoul, 05 Jul - South Korea's LG Electronics said that it expects operating profit in the second quarter to have surged by 61.2% to 1.19 trillion won, passing the 1 trillion won mark for the first time, while revenue is seen at 21.7 trillion won, up 8.5% year on year.

In the first half, revenue rose 5.9% to over 40 trillion won and operating profit by 13% to over 2 trillion won.

The home appliance and air solution business continued to outpace industry growth. The air solutions segment, in particular, contributed significantly to the strong second-quarter performance, driven by seasonal demand.

The vehicle component solutions business is increasing its focus on premium product sales while proactively preparing for future technology advancements, including the shift to software-defined vehicles, exemplified by the introduction of LG AlphaWare.

In the home entertainment sector, premium OLED TV sales in advanced markets are gradually rebounding, despite challenges from rising LCD panel prices.

These figures are tentative consolidated earnings based on K-IFRS provided as a service to investors prior to LG Electronics' final earnings results, including net profit.

Details regarding each division will be announced officially later this month.

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(RADIOCOR) 05-07-24 08:14:27 (0113) 5 NNNN