LG net profit in 2021 decreased by 31%

Posted 27 January, 2022

The net profit of Korean LG Electronics, one of the world's leading manufacturers of electronics and household appliances, in the past year decreased by 31% compared to 2020, amounting to 1.415 trillion won (approximately $ 1.2 billion), follows from the company's financial statements.

Operating income decreased 1% year-on-year to 3.864 trillion won ($3.2 billion).

The company's revenue increased by 28%, reaching 74.721 trillion won (62.4 billion dollars), also follows from the message.

In the fourth quarter, the company's net profit fell 12.5 times year-on-year to 21.3 billion won ($17.5 million). Operating income for the period was 677.7 billion won ($565 million), down 21% year-on-year. The company's revenue for the reporting period increased by 20.7% and amounted to 21.009 trillion won (17.5 billion dollars).

After the release of these data and following the results of stock trading, the company's shares fell by 3.88%.

LG Electronics is a South Korean manufacturer of consumer electronics and mobile phones, which has long been one of the top three in the market. The company was founded in 1958 and is headquartered in Seoul.

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