Consolidated revenue increased 8.5 percent year-on-year to 21.69 trillion won ($16.8 billion), and operating profit soared 61.2 percent to 1.20 trillion won, setting new records for both metrics in a second quarter. Net profit jumped 222.3 percent to hit 629.5 billion won.
Both the home appliance and air solution (H&A) division and the vehicle component solutions (VS) unit achieved record-high revenues and the highest-ever quarterly operating profits.
The H&A business saw operating profit increase 16 percent year-over-year to 694.4 billion won as sales increased 11 percent to 8.84 trillion won. The VS division reported a 1 percent year-over-year increase in sales to 2.69 trillion won ($2.07 billion). It turned a profit, with 81.7 billion won in operating income.
The home entertainment division saw a 15 percent year-on-year increase in revenue, benefiting from recovering demand for OLED TVs in Europe. The business solutions division grew by 9.9 percent in sales, driven by LED signage, digital boards, and gaming monitors.
LG is accelerating its transition towards a future-oriented business structure, expanding business-to-business operations in areas such as heating, ventilation, and air conditioning (HVAC) systems for AI infrastructure.
In the business-to-consumer sector, the company is integrating content, services, and subscription models with traditional hardware sales. The webOS platform is expected to generate over 1 trillion won in revenue this year, expanding beyond TVs into IT and infotainment, LG said.
New ventures are also gaining traction, with the smart factory business projected to secure 300 billion won in orders from external companies this year. LG is partnering with ChargePoint to enter the electric vehicle charging market in North America.
The company said it aims to continue its balanced growth strategy, focusing on both core businesses and emerging opportunities while maintaining profitability and adapting to market changes.
