According to the stock price on the 7th, LG Electronics’ sales this year are expected to reach 69.5 trillion won and operating profit of 3.800 billion won. Some securities companies also expected operating profit to reach 4 trillion won. This is another renewal of last year’s performance, which recorded the highest sales (63,26.2 billion won) and operating profit (3.19 trillion won).
In particular, as the smartphone business, which is scheduled to close at the end of July, is reflected as a loss from discontinued business from 2Q, it is raising the likelihood that this year’s operating profit will reach an all-time high. In the market, it is analyzed that the effect of improving operating profit from the withdrawal of the smartphone business will reach about 500 billion won. In addition, it is expected that the ability to invest in future strategic businesses will increase due to the suspension of the smartphone business.
LG Electronics plans to suspend its smartphone business and further strengthen its future-oriented business portfolio such as home appliances, auto parts, and B2B. In the future, LG Electronics plans to continuously discover new business opportunities based on future technologies such as artificial intelligence (AI), big data, connected cars, digital transformation, IoT, and robots.
In particular, the electronics business, a new growth engine, is expected to turn into a profit in 2H. LG Electronics plans to launch the LG Magna ePowertrain (tentative name), a joint venture established with Magna, the world’s third-largest auto parts maker, on July 1st.
Roh Gyeong-tak, a researcher at Eugene Investment & Securities, said, “With the end of production and sales in the MC division, the operating deficit, which had been a large part of the business, is expected to be resolved, and investment in home appliances and electronic components with global competitiveness is expected to expand.” It is expected to improve by KRW 100 million, and sales diversification and earnings turnaround are also expected due to the full-scale growth of the electronics business, such as the establishment of LG Mag and JV.”
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