LG Electronics' first-quarter operating profit declines 11% to 1.33 trillion won due to increased costs and competition.
South Korea's LG Electronics reported a decline of 11% in its first-quarter operating profit to 1.33 trillion won ($984.9 million), due to increased costs and intensifying competition. Despite the profit drop, the company saw a 3.3% annual sales increase to 21.09 trillion won, marking its highest first-quarter revenue. LG Electronics has exceeded 1 trillion won in operating profit for five consecutive years since 2020.
April 05, 2024
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