LG Electronics posts record 262.3 billion won Q4 earnings on robust home appliance sales

LG Electronics Inc. posted a record net profit of 262.3 billion won in the fourth quarter of 2020 on robust home appliance sales, swinging from a net loss of 849.8 billion won in 2019.

The company's also posted its largest-ever operating profit in the fourth quarter, surging nearly sixfold to 650.2 billion won.

Sales also soared 16.9 percent on-year to 18.7 trillion won in the fourth quarter, which was also its best-ever quarterly performance.

For the entire 2020, LG Electronics enjoyed a tenfold increase in its net profit to 2 trillion won.

The company's operating profit surged 31.1 percent on-year to 3.2 trillion won and sales increased 1.5 percent from the previous year to 63.2 trillion won.