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S.Korea's LG Electronics posts record revenue in 2019
Last Updated: 2020-01-08 16:04 | Xinhua
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LG Electronics, South Korea's tech giant, posted its record-high revenue last year thanks to the strong sale of consumer electronics and TVs, a regulatory filing showed Wednesday.

Preliminary figure for LG's revenue reached a new high of 62.3 trillion won (53.2 billion U.S. dollars) in 2019, up 1.6 percent from the previous year.

Operating profit amounted to 2.43 trillion won (2.1 billion U.S. dollars) last year, down 10 percent from the previous year's 2.7 trillion won (2.3 billion U.S. dollars) that was the biggest-ever profit won by the South Korean company.

Detailed earnings on each business unit will be announced later this month after an external audit and the board of directors' approval.

The record revenue was attributed to the brisk sale of consumer electronics and premium TVs that offset the slump in smartphone sales, market watchers noted.

During the October-December quarter, LG's revenue rose 1.8 percent over the year to 16.06 trillion won (13.7 billion U.S. dollars).

Operating profit stood merely at 98.6 billion won (84.2 million U.S. dollars) in the quarter, far below the market expectations of about 250 billion won (213.5 million U.S. dollars).

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