LG Statistics By Revenue, Business Segment, Sales and Facts

Introduction

LG Statistics: LG Corporation, a South Korean multinational headquartered in Seoul, has been a prominent player in consumer electronics and home appliances since its foundation in 1958. Today, LG Electronics, a key subsidiary of LG Corporation, ranks among the world’s leading consumer electronics companies, with billions of USD in revenue annually. The company manufactures and sells its products globally, reaching markets in Asia, North America, and Europe.

The Home Appliance & Air Solution division stands out as LG Electronics’ most profitable segment. In 2023, this segment alone generated around USD 23 billion in revenue, solidifying its role as the company’s largest business division. The Home Entertainment segment followed, contributing over USD 11 billion in the same year. Over the years, LG has established a dominant presence in the TV market, maintaining over a 15% market share worldwide. However, despite selling nearly 25 million smartphones in 2020, LG exited the smartphone market in April 2021 to focus on other areas of growth.

LG competes fiercely in the consumer electronics and household appliance sectors. It contends with tech giants like Apple, Sony, Panasonic in electronics and Haier, Whirlpool, Electrolux in appliances. LG’s primary competitor, Samsung Electronics, another South Korean leader, challenges LG across numerous product lines, including refrigerators, washing machines, and air conditioners. To maintain its competitive edge, LG continues to invest in innovation and product development.

In India, LG Electronics is among the top brands in home appliances, particularly popular for its TVs, air conditioners, and refrigerators. However, LG India’s revenue declined in 2023, amounting to USD 35 million, reflecting a drop from previous years. As the tech landscape evolves, LG remains committed to its position as a global leader in consumer electronics and appliances, aiming to stay at the forefront through continued innovation.

Editor’s Choice

• LG Electronics recorded its highest revenue of approximately USD 64 billion in 2023, which is a 1.4% decrease compared to the previous year.
• LG Chem’s revenue in 2023 was USD 41.23 billion, marking an 8.4% increase from the previous year.
• In May 2023, LG Chem became the fourth largest brand worldwide, with a brand value of around USD 4.5 billion.
• LG Display reported USD 5.52 billion in revenue during the fourth quarter of 2023.
• South Korean telecom carrier LG Uplus Corp. reported an operating profit of USD 751.8 million, a 7.7% decrease from the previous year.
• LG became the third largest mobile operator in Korea, with 16.67 million subscribers as of August 2023.
• LG Mobile’s market share rose to 20.9% in 2023, despite challenges in the global smartphone market.
• LG has committed to transitioning all its business operations to 100% renewable energy by 2050.
• LG Display Co. reported an annual revenue of USD 16.47 billion in 2023, reflecting a 20.58% revenue decline.
• In February 2024, LG’s website had a total of 27 million visits, with a bounce rate of 63.33%.
• The acronym LG is derived from the company’s original name, “Lucky GoldStar,” with the letters “L” and “G” symbolizing the future, world, humanity, youth, and technology. The company’s tagline is “Life’s Good.”
• Inspired by a banana, LG released a line of mobile phones with stronger curves, designed for a comfortable fit in the hand and against the cheek.
• LG Electronics oversees more than 118 local subsidiaries worldwide, with a workforce of approximately 75,000 executives and employees.
• Since 2009, LG has maintained its position as the world’s third-largest mobile phone manufacturer.
• In the first quarter of 2024, LG Electronics’ revenue from the home entertainment segment reached USD 2.55 billion. The home appliances and air solutions segment, LG’s largest, generated around USD 6.3 billion in revenue during the same period.
• In the second quarter of 2024, revenue from LG Electronics’ home appliances and air solutions segment reached approximately USD 6.4 billion, showing recent steady growth.

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General LG Statistics

• LG Energy Solution’s production is expanding continuously, and by 2025, the company will establish manufacturing facilities and other joint ventures in North America, Europe, and Asia.
• In South Korea, the operating profit of petrochemicals in LG Chem’s amounted to around 37 billion won.

(Source: lgensol.com)

• A supply agreement was signed by Toyota and LG Energy Solution in 2023.
• In the United States, LG Energy Solution and Hyundai Motor Group formed a joint venture to manufacture battery cells.
• In Arizona, LG Energy Solution announces a manufacturing complex for EV and ESS batteries.

(Source: displaydaily.com)

• LG Corp. expects to increase its renewable energy consumption in coming years by setting intermediary usage targets such as 2030 (60%), 2040 (90%), and 2050 (100%).
• The company has also announced its “Zero Carbon 2030” pledge, which aims to achieve net-zero carbon dioxide emissions by the end of 2030.
• In the first three quarters of 2023, LG Electronics has covered a market share of 55% resulting in 2,036,800 unit shipments of OLED television.

Most Valuable Brand of South Korea

(Reference: statista.com)

• In 2023, LG secured third position among all other brands in South Korea holding a brand value of USD 11,306 million.
• LG Chem ranked 9^th top position with a brand value of USD 4,494 million.
• Meanwhile, other South Korean companies brand valuations are Samsung (USD 82,722 million), Hyundai (USD 15,863 million), SK Hynix (USD 9,146 million), Kia (USD 8,269 million), Coupang (USD 6,457 million), Posco (USD 4,667 million), KB Financial Group (USD 4,635 million), and Naver (USD 4,494 million).

Statistics LG Electronics by Revenue

(Reference: statista.com)

• According to LG Statistics, revenue earned by LG Electronics amounted to USD 63.3 billion as of 2023.
• Moreover, the quarterly analyses of Electronics in 2023 are Q1 (USD 12.16 billion), Q2 (USD 12.32 billion), Q3 (USD 12.2 billion), and Q4 (USD 11.71 billion).
• The highest revenue was earned by LG electronics’s home appliances and air solution business segment, which resulted in 30 trillion won (USD 22.5 billion).
• As per a report published by Statista States that the net income of LG Electronics turned out to be USD 860 million.
• In 2023, the annual earnings turned out to be USD 1.43 billion, which has decreased by 37.75%

LG Electronics Market Capitalization Statistics

(Source: companiesmarketcap.com)

• As of March 2024, LG Electronics’s market capitalization is expected to be USD 12.71 billion, a 5.24% YoY decrement.
• In 2023, monthly market capitalization was followed by the 28^th of January (USD 13.51 billion), 25^th of February (414.91 billion), 18^th of March (USD 16.21 billion), 15^th of April (USD 15.77 billion), 20^th of May (USD 15.64 billion), 24^th June (USD 16.04 billion), 22nd July (USD 16.2 billion), 26^th August (USD 12.6 billion), 16^th September (USD 13.82 billion), 28^th October (USD 12.79 billion), 25^th November (USD 13.75 billion), and 30^th December (USD 13.42 billion).
• On the other hand recorded market cap in 2024, followed by 6^th January (USD 12.54 billion), 20^th January (USD 11.75 billion), 3^rd February (USD 12.42 billion), 17^th February (USD 12.73 billion), 2^nd March (USD 12.17 billion), and 15^th March (USD 12.71 billion).

LG Electronics Statistics by Business Segment

(Reference: statista.com)

• LG Statistics further states the sales revenue of Electronics by business segment in the 1^st quarter of 2023 are Home Appliance and Air Solutions (USD 6 billion), Home Entertainment (USD 2.5 billion), Vehicle Components (USD 1.8 billion), Business Solutions (USD 1.1 billion), and Others (USD 0.76 billion).
• In 2023, other quarterly sales revenue of LG’s business segment by 2^nd quarter: Home Appliance and Air Solution (USD 6 billion), Home Entertainment (USD 2.4 billion), Vehicle Components (USD 2 billion), Business Solutions (USD 1 billion), and Others (USD 0.92 billion).
• 3^rd quarter: Home Appliance and Air Solutions (USD 5.6 billion), Home Entertainment (USD 2.7 billion), Vehicle Components (USD 1.9 billion), Business Solutions (USD 1 billion), and Others (USD 1 billion).
• 4^th quarter: Home Appliance and Air Solutions (USD 5 billion), Home Entertainment (USD 3.1 billion), Vehicle Components (USD 1.9 billion), Business Solutions (USD 0.95 billion), and Others (USD 0.76 billion).

LG Patent Statistics

(Reference: insights.greyb.com)

• South Korea filed the highest 40,897 patents in LG Electronics worldwide in 2023.
• The following top patent-filling countries are the United States of America (28,735), Europe (14822), China (13005), Germany (9505), Japan (4254), India (2259), Australia (1669), the United Kingdom (1327), and Brazil (986).
• Moreover, rest other countries filing includes Russia (762), Spain (750), Canada (654), Italy (615), Vietnam (546), Taiwan (540), Mexico (488), Indonesia (327), Austria (184), Poland (150), Malaysia (99), Singapore (95), France (87), Hong Kong (72), Chile (54), Denmark (53), Hungary (51), Portugal (40), South Africa (40), Turkey (38), Philippines (36), United Arab Emirates (21), Slovenia (20), Colombia (18), Egypt (12), Saudi Arabia (12), Norway (9), Argentina (9), Israel (4%), Pakistan (2), Bangladesh (1), Croatia (1), Kazakhstan (1), and Malta (1).

• LG Electronics has a total of 141,312 patents globally, with 69,097 patents granted.
• Out of these 141,312 patents, more than 72% are active.
• Korea (South) is the country where LG Electronics has filed the highest number of patents, followed by the United States of America and Europe.
• Korea (South) is also the primary R&D center and the origin country of LG Electronics.
• LG Electronics was founded in 1958.
• The company produces and sells home appliances and digital display equipment, including flat-panel televisions, audio-visual devices, washing machines, air conditioners, refrigerators, and telecommunications equipment such as tablets and smartphones.
• As of January 2023, LG Electronics has a market capitalization of USD 12.01 billion.
• The founder, Koo In-Hwoi, holds 0 patents, and the CEO, William Cho, also holds 0 patents.
• LG Electronics’ 141,312 patents belong to 62,663 unique patent families.
• Of the total 141,312 patents, 102,493 patents are currently active.

LG Chemicals Statistics

• LG Statistics show that LG Chemicals’ revenue was around USD 43.14 billion in 2023, an increase of 8.52% from last year.
• The operating profit of LG Chem turned out to be KRW 2.5 trillion, which decreased by 15.1%.
• According to LG Chem’s latest financial reports, the company’s current earnings were USD 2.08 billion, which has decreased by 12.54%.
• In South Korea, the operating profit of petrochemicals in LG Chem’s amounted to around 37 billion won.

By Earning Insights

(Source: investing.com)

• In the 1^st quarter of 2023, revenue generated by LG Chem turned out to be USD 14.48 billion, and earnings per share (USD 6.68K).
• Other quarterly earning insights are followed by Q2: revenue (USD 14.54 billion) and EPS (USD 7.59K).
• Q3: revenue (USD 13.49 billion) and EPS (USD 6.10 K).
• Q4: revenue (USD 14.54 billion) and EPS (USD -1.18 K).
• By 31 January 2024, LG Chem’s accounted revenue was USD 13.13 billion and USD -1.17 K (EPS).
• Expected revenue and EPS by April 2024 is going to be USD 12.67 billion and USD 5.2 K.

By Market Capitalization

(Source: companiesmarketcap.com)

• LG Chemicals’s market capitalization is USD 29.05 billion, which is 16.75% lower than the previous year.
• LG Chem’s market cap is expected to reach USD 24.63 billion by 2024, a 15.2% YoY decrement.
• Furthermore, LG Statistics states that monthly market capitalization is followed 2023: 7^th January (USD 34.37 billion), 27^th January (USD 22 billion), 24^th February (USD 26.85 billion), 4^th March (USD 41.82 billion), 1^st April (USD 42.37 billion), 29^th April (USD 44.38 billion), 13^th May (USD 43.13 billion), 3^rd June (USD 41.19 billion), 24^th June (USD 40.36 billion), 22^nd July (USD 40.9 billion), 26^th August (USD 31.57 billion), 23^rd September (USD 29.27 billion), 21^st October (USD 26.59 billion), 25^th November (USD 29.7 billion), and 23^rd December (USD 28.53 billion).
• Other monthly market cap of 2024: 6^th January (USD 27.81 billion), 27^th January (USD 22 billion), 3rd February (USD 26.04 billion), 24^th February (USD 26.85 billion), and 9^th March (USD 25.53 billion).

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LG Chem’s Sales Statistics by-Products

(Reference: statista.com)

• According to LG Statistics, a report of Statista states that in LG Chem’s petrochemicals sector, NCC/PO recorded a 29% sales value share in the 3^rd quarter of 2023.
• Moreover, other products sales share of LG’s petrochemical sector were ABS (26%), PVC/Plasticizer (18%), Acrylate (8%), HPM (7%), Nexolution (7%), and Sustainability (5%).

LG Statistics by LG Uplus

• A Forbes report describes South Korean telecom carrier LG Uplus Corp.’s total revenue and assets in 2023 as USD 10.8 billion and USD 15.6 billion, respectively.
• This subsidiary’s operating profit was 998 billion won (USD 751.8 billion) in 2023, down 7.7% from the previous year.
• LG Statistics states that by the end of the 4^th quarter of 2023, LG Uplus gained around 7.04 million subscribers, with a 16.2% YoY increase.
• The sales from the wireless division of LG Uplus accounted for 1.58 trillion won, which increased by 0.6%

LG Statistics by LG Display Co.

(Source: displaydaily.com)

• According to LG Statistics analyses, LG Display Co.’s annual revenue in 2023 was USD 16.47 billion, with a 20.58% revenue growth.
• In the 3^rd quarter of 2023, the operating loss was reduced to USD 490 million.
• By the year’s end, LG Display reported an overall loss of nearly 433 billion won.

By Revenue

(Reference: stockanalysis.com)

• Considering LG Statistics, LG Display Co.’s annual revenue in 2023 was USD 16.47 billion, with a—-20.58 % revenue growth.
• Quarterly generated revenue is followed by Q1 (USD 3.40 billion), Q2 (USD 3.58 billion), Q3 (USD 3.54 billion), and Q4 (USD 5.71 billion).

By Market Cap (From 2006 To 2024)

(Source: stockanalysis.com)

• The overall market cap of LG Display is estimated to be USD 3.33 billion by 2024.
• Furthermore, monthly market cap analyses of 2024 are 5^th January (USD 3.59 billion), 16^th January (USD 3.39 billion), 8^th February (USD 3.12 billion), 20^th February (USD 3.19 billion), 1^st March (USD 3.05 billion), and 13^th March (USD 2.94 billion)
• In 2023, the monthly market cap of the Company was 27^th January (USD 4.14 billion), 21^st February (USD 4.4 billion), 27^th March (USD 4.14 billion), 28^th April (USD 4.02 billion), 22^nd May (USD 4.39 billion), 26^th June (USD 4.46 billion), 28^th July (USD 3.81 billion), 21^st August (USD 3.56 billion), 25^th September (USD 3.57 billion), 27^th October (USD 3.16 billion), 20^th November (USD 3.80 billion), and 26^th December (USD 3.38 billion).

LG Statistics by Household and Health Care

• As per the latest financial reports of LG Statistics, revenue contributed by the LG Household and Health Care segment was USD 5.16 billion in 2023, with a change of -6.57%.
• The company’s current earnings and market cap turned out to be USD 0.20 billion and USD 3.89 billion, respectively.
• However, by 2024, the expected market cap will be USD 3.89 billion.

The Website Traffic of LG Statistics

By Country

(Source: similarweb.com)

• As explained by LG Statistics, the United States of America had 22% of total traffic on lg.com but it reduced by 11.625 in total website visitors.
• Furthermore, other countries recorded the following contribution in total traffic: Brazil = 7.98% (-8.51%), Germany = 5.5% (+10.91%), India = 3.92% (-9.55%), and Russia = 3.83% (-15.83%).
• Other countries collectively made around 56.78% of visitor share in lg.com.

By Demographics

(Reference: similarweb.com)

• The number of users shared by gender is male (66.54%) and female (3.46%).
• LG Statistics by age group states that the highest number of website users observed is between 25 and 34 years old, resulting in 29.79%.
• 19.89% of users are aged from 35 to 44 years.
• 16.36% and 15.87% belong to 18 to 24 years and 45 to 54 years respectively.
• 11.38% of website users are aged from 55 to 64 years.
• Nearly 6.72% of user shares contributed from the age group above 65 years.

By Traffic Source

(Reference: similarweb.com)

• The highest traffic rate towards lg.com was accounted for by organic search with 61.94% in February 2024.
• 01% of the share was generated by direct search, while 8.12% is from Paid search from the website.
• Furthermore, other traffic sources towards lg.com are Referral search (2.41%), Social (2.19%), Mail (0.8%), and Display (3.52%).

By Device

(Reference: semrush.com)

• lg.com traffic share by device users is followed by mobile (77.98%) and desktop (22.02%).
• 2% of total LG users belong to the United States of America, resulting in 9.63 million. Out of these 3.25% are desktop users, and 66.75% are mobile users.
• India has 5.17 million users, resulting in 9.77%, of which 10.16% belong to desktops and 89.84% to mobile devices.
• Out of the total players, 8.16% are from Brazil resulting in 4.32 million with 27.65% access to the desktop version and 72.35% to mobile devices.
• Mexico and Germany have around 3.24 million and 1.78 million users, which results in 6.13% and 3.36% respectively.
• 7.39% of desktop and 92.61% of mobile users in Mexico, 27.07% of users access the website on desktop and 72.93% of mobile users in Germany.

By Social Media Referral Rate

(Reference: similarweb.com)

• YouTube has the highest social media referral rate, with a 57.4% share than other social networks.
• Reddit and Facebook contribute by 15.74% and 14.74% respectively.
• Traffic sent by Twitter is 4.94%, and WhatsApp contributes 2.37%.
• Other social media networks have a nominal contribution, collectively around 4.82%.

Conclusion

The primary aim of LG is to improve people’s lives and businesses with advanced technology and leading products. In the 21^st century, the LG Electronics subsidiary has gained immense popularity and become the global digital leader. The company is best known for its commitment to customer satisfaction, which helped to set an effective brand value in the market.

This article on LG Statistics includes different segmental and current analyses of worldwide LG Corp. All the above descriptions will help you better in understanding the market before investing.

Pramod Pawar

Pramod Pawar brings over a decade of SEO expertise to his role as the co-founder of 11Press and Prudour Market Research firm. A B.E. IT graduate from Shivaji University, Pramod has honed his skills in analyzing and writing about statistics pertinent to technology and science. His deep understanding of digital strategies enhances the impactful insights he provides through his work. Outside of his professional endeavors, Pramod enjoys playing cricket and delving into books across various genres, enriching his knowledge and staying inspired. His diverse experiences and interests fuel his innovative approach to statistical research and content creation.

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