LG Electronics has reported record full-year revenues for 2017 of KRW61,4-trillion ($55,4-billion), an increase of 10,9% from the previous year, and the highest in the company’s history.
Full-year 2017 profits of KRW2,47-trillion ($2,23-billion) — the highest profit since 2009 — increased 85% from 2016 due in large part to strong performance by premium home appliances and TVs.

Fourth-quarter 2017 revenues grew 15% versus 2016 to KRW16,96-trillion ($15,3-billion), generating strong operating profits of KRW366,8-billion ($330,9-million).

The LG Home Entertainment Company reported full-year revenues of KRW18,67-trillion ($16,85-billion), a 7% increase from the previous year. Strong full-year operating profit of KRW1,57-trillion ($1,41-billion) reflected the continued growth in demand of premium LG OLED and UHD TV products. Fourth-quarter 2017 sales were strong, up 14% year-over-year to KRW5,48-trillion ($4,94-billion), thanks to increasing demand for LG premium TVs. Operating income for the quarter increased 134% from the same period 2016 to KRW383,5-billion ($345,96-million).

The LG Mobile Communications Company posted full-year sales of KRW11,67-trillion ($10,52-billion) despite a challenging marketplace and strong competition from Chinese brands. Fourth-quarter revenues increased to KRW3,07-trillion ($2,77-billion), while the quarterly operating loss narrowed to KRW213,2-billion ($192,33-million) due to strong sales of the LG V30 and other premium smartphones and an improved business structure.

The LG Vehicle Components Company posted solid full-year sales of KRW3,49-trillion ($3,15-billion), an increase of nearly 26% from the previous year, and quarterly sales of KRW856,7-billion ($772,8 -million), down slightly from the same period a year earlier. The company’s fourth-quarter 2017 profitability declined due to a temporary decrease in sales in the infotainment business and investments in new business. Growth of the global electric vehicle market is expected to generate additional demand for components in 2018.