LG posts record revenue in third quarter, innovates business model

LG's journey to realize its vision for the future by 2030 is progressing smoothly, despite the global economic slowdown.

In July, LG announced its 2030 vision, which focuses on expanding its B2B business and innovating its business model, combining non-hardware solutions such as content services and long-term subscriptions with traditional hardware products such as home appliances and televisions. For new growth drivers, LG aims to invest in promising businesses that create a synergistic effect with existing businesses. The decision to invest in electric vehicle charging is a typical example of this strategy.

Looking ahead to the peak period at the end of the year, LG is focusing on accelerating the transformation of its business portfolio, aiming to maintain high growth in the B2B segment with leading automotive component solutions, while increasing sales of key product lines. In addition, LG also plans to optimize performance by improving market demand forecasts, supporting stable profits in the future.

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