LG Electronics, VS Division Posts 96.8 Billion KRW Loss in Q1... Decline in Lamp Business Sales
[Asia Economy Reporter Dongwoo Lee] LG Electronics announced on the 29th that its VS Business Division recorded sales of 1.3193 trillion KRW and an operating loss of 96.8 billion KRW in the first quarter of this year.
Sales decreased by 2.1% year-on-year due to a decline in sales from the electric vehicle parts business and the lamp business of its subsidiary ZKW, resulting in a continued operating loss.
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LG Electronics explained that the sales disruption caused by the suspension of factory operations of automobile manufacturers in North America and Europe due to COVID-19 led to the operating loss.
This content was produced with the assistance of AI translation services.
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