LG’s net profit falls by almost 3%

Net profit of LG Electronics attributable to shareholders in the first quarter of 2021 decreased by 2.6 percent in annual terms and amounted to 998.3 billion won (almost $900 million), Report informs referring to the company’s statements.

LG’s operating profit rose 39 percent year on year to 1.52 trillion won ($1.4 billion). The company’s revenue in the reporting period increased by 28 percent in annual terms, reaching 18.8 trillion won ($17 billion), according to the message.

“Due to the impact of COVID-19, there is a risk of a slow recovery in the real economy with low employment and an increase in public and corporate debt,” the company said.

LG’s core strategy is to maintain a competitive edge by expanding its market position in main business areas and increasing investment in strategic directions.