LG Remains Top of Global Home Appliance Sales

Published on 2020/08/02 | Source

LG has maintained its top spot in the global home appliance market in the second quarter.

Markets around the world were hit hard by the coronavirus pandemic in the second quarter, but LG managed to maintain a double-digit operating margin, keeping ahead of main rival Whirlpool.

LG said Thursday that it achieved sales of W12.8 trillion and an operating profit of W495.4 billion from April to June, down 17.9 percent and 24.1 percent compared to the same period last year (US$1=W1,196).

But the performance was better than expected thanks to strong earnings from the home appliance division, where LG achieved W5.2 trillion in sales and W628 billion in operating profit.