Despite navigating challenging macroeconomic conditions, LG Electronics Inc. reported a robust first quarter in 2024. The company achieved its highest-ever total revenue of USD 16.4 billion and over USD 1 billion in operating profit.
LG's focus on features like AI, energy efficiency, and customer-centric design approach has allowed them to compete effectively in the premium market. On top of that, their strategic approach of offering a wide range of products at different price points proved effective in navigating a market with two extremes - consumers who are willing to spend a lot on high-end products and the others who are more budget-conscious.LG Home Appliance sector shines achieving a record-breaking 7.
Looking ahead, LG anticipates slight growth in the commercial display segment, gaming monitors and LED signage. The company continues to invest in promising new ventures like robotics and EV charging.