LG Electronics recorded consolidated revenue of 15.2241 trillion won and operating profit of 516.1 billion won in the third quarter. Revenue and operating profit increased 15.1% and 82.2% respectively compared to the same period last year. Revenue is the highest among all third quarters on record.

LG Electronics' HE Business Unit achieved third quarter operating profit of 458 billion won with an operating profit margin of 9.9%, marking the highest quarterly performance to date. This is the first time the HE Business Unit has surpassed 400 billion won in quarterly operating profit.

Cumulative operating profit through the third quarter stands at 1.1832 trillion won, with a cumulative operating profit margin of 9%, which reaches 96% of last year's operating profit. The HE Business Unit previously recorded its highest annual operating profit last year.

In recent years, LG Electronics has focused on premium products centered around OLED TVs and Ultra HDTV. In 2013, the price of a 55-inch OLED TV was around 15 million won, approximately 5 times higher than LCD TVs of the same size. Compared to LCD TVs of the same size, OLED TV pricing has become more competitive at 2 times the price in 2015, 1.4 times in 2016, and 1.3 times this year. LG Electronics has recently lowered the price of 55-inch OLED TVs to the mid-2 million won range.

According to market research firm HIS, in the second quarter, OLED TV sales share in the premium market segment of 2,500 dollars and above exceeded 50%. Furthermore, it is projected that OLED TVs will account for 8% of global TV market revenue by 2021.

HA Business Unit recorded revenue of 4.9844 trillion won and operating profit of 424.9 billion won. In the domestic market, besides air conditioners, sales of new growth products such as Puricare air purifiers, Tromm dryers, and Cordless Vacuum Cleaner Code Zero A9 increased. In overseas markets including North America, Europe, and Asia, premium products showed strong performance with a 16.4% increase compared to the same period last year.

Operating profit increased 26.1% compared to the same period last year through expanded premium product sales in global markets including Korea, despite rising raw material prices. In terms of historical third quarter performance, revenue, operating profit, and operating profit margin (8.5%) are the highest.

The HA Business Unit plans to expand premium product sales led by Knock-on Magic Space refrigerators and TwinWash washers, while maintaining stable profitability through continuous cost structure improvements and efficient cost management. In the home appliance business, demand in the Korean market is expected to continuously increase for premium small appliances such as Puricare water purifiers and air purifiers, cordless vacuum cleaners Code Zero A9, as well as new growth products like Tromm dryers and Stylers. As global economic conditions recover, demand for home appliances is expected to increase centered around Europe and Asia.

MC Business Unit recorded revenue of 2.8077 trillion won and operating loss of 357.3 billion won. While premium smartphone 'G6' maintained stable sales, the 'Q6' inheriting the G6 design and budget-friendly smartphones showed strong performance, increasing 7.9% compared to the same period last year. Although the loss expanded compared to the previous quarter due to rising smartphone component prices and one-time royalty costs, the improving trend compared to the same period last year has been maintained through continuous business structure improvements.

As competition in the premium smartphone market intensifies, the MC Business Unit plans to expand overseas launches of 'V30', which has received positive reviews from customers and the market, and to continuously increase budget-friendly smartphone sales. The business unit plans to continuously strengthen activities to improve business competitiveness, including enhancing cost competitiveness on a platform and modular basis.

VC Business Unit recorded revenue of 873.4 billion won and operating loss of 29 billion won. Revenue increased 29.4% compared to the same period last year due to expanded customer base for smart infotainment business and expanded electric vehicle component sales following increased sales of GM Chevrolet Volt EV. However, small operating losses continued as the company maintains advanced technology investments in new infotainment business and electric vehicle components.

The VC Business Unit plans to proactively prepare future technologies in preparation for changes in communication environments and further solidify its position in the electric vehicle component market following the success of GM Chevrolet Volt EV. As complete vehicle manufacturers in the United States and Europe announce electric vehicle production plans, the automotive component market is expected to expand continuously.