LG Electronics is expected to have its highest revenue ever in 2023, reaching 84 trillion won. This is due to strong performance in core businesses, including automotive products, and effective management. Despite challenges from economic slowdown and market competition, LG Electronics has achieved its highest annual revenue for the third consecutive year. Annual sales have increased by 1%, while operating profit has edged down by 0.1%. The company attributed its record revenue to strong performance in core businesses and growth in its B2B sectors. LG also plans to concentrate on strengthening its smart home solutions and focusing on software-defined vehicles. The confirmed earnings report for 2023 is scheduled for release later this month. LG’s expansion of the webOS ecosystem will extend beyond TVs to encompass smart monitors and in-vehicle infotainment. Additionally, it will significantly strengthen its OLED and QNED lineups. The company is also concentrating on the early commercialization of key areas such as EV charging and robotics. The company’s preliminary earnings showed on Monday that LG Electronics is expected to record its highest revenue ever of 84 trillion won ($64 billion) in 2023.
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