Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP News Agency) hYUNJIN KIM Journalist = LG Electronics announced estimated 3Q 2021 earnings.

The Korean leading electronics company said it reached 18.7845 trillion won of sales and 540.7 billion won of profit in 3Q 2021 on the consolidated statement, which are the greatest among its quarterly sales.

The company’s Q3 sales increased 22.0% than the previous year, with 49.6% decreased profits after reflecting receivables.

LG Electronics will add 480 billion won worth of receivables caused by the bolt recall decision for GM electric vehicles. It already reflected the announced estimated profits on the statement.

At the end of July this year, the tech giant discontinued its telephone business. It will add a net loss from the discontinued operation of the MC business.

The earnings were calculated based on the K-IFRS standard. The company plans to announce consolidated net profit and performance for each business part in the upcoming conference call at the end of this month.

NSP News Agency hYUNJIN KIM Journalist kimhj30310@nspna.com
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