LG has held on to its title of the second most profitable consumer electronics brand after Samsung. It leads the washing machines, microwave ovens and direct cool refrigerators markets in India
South Korea based LG Electronics has said that its FY 2018 revenue from operations and other incomes was Rs 16,059 crore. The figures were filed by the brand in its regulatory disclosures with the Registrar of Companies (RoC).
LG had filed revenue figures of Rs 16,059 crore during FY 2017. However, the revenue figures are not comparable as GST had kicked in during the last fiscal in July.
LG mentioned that its home appliances and air-conditioner businesses during FY 2018 generated a revenue of Rs 10,903 crore. The brand’s television and home theater verticals clocked in Rs 4,546 crore worth of revenue. LG will continue its focus on all business verticals in order to maintain its market leadership in India.
Smartphone business revenue figures missing
Samsung, which leads the Indian market in terms of consumer electronics, had posted a total revenue of Rs 61,065 crore from all its verticals. It is to be noted here that the major share in Samsung’s overall revenue was held by its smartphones vertical. Samsung smartphones contributed Rs 37,349.7 crore during FY 2018.
In comparison, LG has not posted its revenue figures generated by its smartphone business. It is a known fact that the popularity of LG smartphones is not what it used to be in the past.
LG’s revenue from TV and home theater divisions
LG’s revenue figures from its television and home theater divisions stood at Rs 4,546 crore during FY 2018. LG Electronics has also retained the tag of the second largest player in the LED TVs space in India.
In comparison, Samsung’s TV and home theater segment registered revenue figures of Rs 4,512.8 crore during FY 2018. Samsung was able to register gross profit figures of Rs 221.9 crore from this revenue.
LG’s revenue from home appliances and air-conditioner businesses
The revenue figures generated by LG’s home appliances and air-conditioner businesses stood at Rs 10,903 crore during FY 2018. Samsung, on the other hand was able to generate a revenue of Rs 6,732.2 crore from its home appliances business in FY 2018.
Touted as India’s largest white goods maker, LG Electronics India’s net profit figures were Rs 1,454.2 crore during FY 2018. These figures represent a 14 per cent jump in net profit figures the brand had filed during the last fiscal.