LG reports a sharp drop in operating profit despite sales growth, partnering with Microsoft on AI.

LG Electronics reported a 53% drop in fourth-quarter operating profit to 146.1 billion won, compared to 312.5 billion won last year, citing increased shipping costs and stock consolidation efforts. Despite a 0.2% rise in sales to 22.77 trillion won, the company's operating profit for 2024 is expected to fall 6.1% to 3.43 trillion won, with sales up 6.7% to 87.74 trillion won. LG also announced a partnership with Microsoft to develop AI agents for home and vehicle use, integrating Microsoft's AI technologies with LG's devices.

2 months ago
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