LG Electronics 2019 revenues stood at USD 53 billion

South Korea's LG Electronics Inc. (LG) saw its revenues in 2019 at USD 53 billion driven by the strong demand for its home appliances. 

LG Electronics' 2019 financial performance buoyed by its home appliance

LG Electronics 2019 financial results

While it realized robust sales growth, its profit last year was 10 percent down to USD 2.07 billion as it coughed up more investments in marketing and technologies. 

For the fourth quarter alone, revenues slightly up by 1.8 percent to USD 13.65 billion, while operating income jumped to USD 86.5 million, or 34.5 percent higher a year earlier. 

Its business units, meanwhile, showed mixed financial results for 2019. 

LG Home Appliance and Air Solution Company booked good figures for full-year 2019, where its revenues increased to USD 18.29 billion, or 11 percent higher than 2018. Operating income in the period stood at USD 1.7 billion, a historic profit for the segment. 

LG Home Entertainment Company's revenue in 2019 was flat at USD 13.73 billion. Its operating income, however, dropped to USD 833 million. 

Suffering from high marketing expenses last year for its flagship devices, LG Mobile Communications Company posted operating losses reaching USD 858.34 million. Its topline was at USD 5.07 billion. 

Solid growth was recorded by its LG Vehicle Component Solutions Company in 2019, where it recorded a 27 percent increase in revenues to USD 4.65 billion. 

Revenues of LG Business Solutions Company stood at USD 2.27 billion, while operating profit reached USD 209.8 million.