Overview
- LG Electronics reported record first‑quarter revenue of 23.73 trillion won and operating profit of 1.67 trillion won in a rebound from last quarter’s loss.
- The electronics maker said home appliances and business‑to‑business lines led the gains, with media and entertainment back in profit and vehicle solutions improving.
- LG Electronics noted weaker results in its eco solution unit and said it will chase growth in AI data‑center cooling, heat pumps, and home robotics.
- LG Energy Solution posted an operating loss of 207.8 billion won on revenue of 6.55 trillion won, and it booked a 189.8 billion won U.S. production tax credit under the Inflation Reduction Act.
- Excluding that credit, the battery unit’s operating loss was 397.5 billion won, which industry watchers linked to higher raw‑material and shipping costs tied to Middle East tensions and early spending to launch North American energy‑storage battery plants.