Remember the chocolate on your LG phone? It can be said that it was popular throughout the country for a while. LG Electronics was once a well-known brand in the smartphone market, in recent years in the competition with Chinese manufacturers gradually defeated, last year withdrew from the mobile phone market, get rid of the loss of business after LG's performance did not fall but increased, in 2021 revenue for the first time exceeded 70 trillion won.
On Friday, LG announced a preliminary report on its 2021 results, with annual revenue reaching 74.72 trillion won, or about 395.5 billion yuan, the first time LG's annual revenue exceeded the 70 trillion mark, up 28.7% year-on-year, exceeding analyst expectations.
However, LG's full-year operating profit was only 3.87 trillion won, or about 20.5 billion yuan, down 1%, lower than the market expectation of 4 trillion won.
LG withdrew from the mobile phone market in April last year, this part of the business has been losing money for many years, becoming a major burden for LG, and now the main revenue contributing to LG is household appliances, air purifiers, and home entertainment equipment.
Although LG no longer develops and manufactures smartphones, its subsidiary LG Innotek is still an important supplier of mobile phone components and contributes to LG's revenue.
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