LG announced that it achieved a net profit in its core business, driven by increased sales in South Korea, North America, and Europe, as well as improved cost management.
In a statement, LG reported a net profit of $233 million for the period from October to December, recovering from a net loss of $759 million in 2019. The company’s net profit increased tenfold to $1.7 billion for the entire year of 2020, with operating profits growing by 31.1% year-on-year to reach $2.8 billion, while its sales rose by 1.5% year-on-year to $5.6 billion.
