LG announced the highest third quarter revenues in the company’s history


LG Electronics announced its preliminary earnings results for the third quarter of 2018.
The company reported tentative consolidated revenues for the third quarter of 2018 at KRW 15.4 trillion – the highest third quarter revenues in the company’s history – and an operating profit of KRW 745.5 billion. Sales are expected to be 1.3 percent higher than the same quarter the previous year with operating profit up 44.4 percent year-on-year.
These figures are the tentative consolidated earnings based on K-IFRS provided as a service to investors prior to LG Electronics’ final earnings results including net profit. Details regarding each division which will be announced officially later this month.
During the latest edition of IFA, LG presents some interesting news, among which the innovative bottom-freezer refrigerator stands out for its significant plusses, such as the 20-year warranty for its internal compressor. Moreover, the refrigerator’s powerhouse is the LG Inverter Linear Compressor which is 32 percent more energy efficient than conventional compressors. This and a range of other efficient features combine to cut the bottom-freezer refrigerator power consumption and give an energy rating of A+++-40 percent. This means that the refrigerator uses 40 percent less power than models with an A+++ energy rating and will make it easier than ever to save on electric bills.
«LG has long worked to develop a bottom-freezer refrigerator that set new standards in not just energy savings and durability but also design and the new Centum System bottom-freezer refrigerator represents the culmination of these efforts – said Song Dae-hyun, president of LG Electronics and Home Appliance & Air Solution Company. – Our premium Centum System bottom-freezer will help cement LG’s long-standing leadership in the global premium refrigerator market.»