LG HelloVision, 2Q Operating Profit 13.1 Billion KRW... 26.7% Increase YoY

Rental, Media, and Other Revenue Drive Performance Growth

[Asia Economy Reporter Cha Min-young] LG HelloVision announced on the 5th that its consolidated operating profit for the second quarter reached 13.1 billion KRW, a 26.7% increase compared to the same period last year. During the same period, operating revenue (sales) rose by 0.7% to 273.9 billion KRW, and net profit increased by 22.4% to 7.5 billion KRW.

By segment, HOME revenue from TV, internet, and internet phone services amounted to 170.1 billion KRW, while MVNO (Mobile Virtual Network Operator) revenue recorded 40.9 billion KRW. Other revenues, including media and rental (installment sales), reached 62.9 billion KRW, marking a 7.2% increase compared to the same period last year.

Subscriber net growth also continued. In the HOME segment, cable TV subscribers increased compared to the same period last year, and internet subscribers have been growing since 2020. LG HelloVision introduced the ‘Value Cable TV Bundled Product,’ which offers half-price rates compared to competitors to enhance cost-effectiveness, launched ‘U+ Idleulnara,’ and expanded gigabit internet coverage. MVNO subscribers also increased by expanding contactless distribution channels centered on unmanned stores and open markets and by enhancing competitiveness in SIM card plans.

Growth in media and rental businesses supported other revenue increases. In the media segment, competitiveness was strengthened through election broadcasts and commerce broadcasts, and new original variety shows such as ‘Mom Was Beautiful’ and ‘Jang Yoon-jung’s Stamp Breaking - Making a National Singer’ were introduced through collaboration with general programming and broadcasting channel operators (PP). In the rental segment, the company launched the ‘Baro Purchase’ service, allowing customers to self-rent trendy home appliances through its direct online mall.

An Jae-yong, Chief Financial Officer (CFO) of LG HelloVision, stated, “The first half of this year showed solid growth trends with simultaneous improvements in subscriber net growth, operating revenue, and operating profit. In the second half, we will accelerate service innovation in digital channels, which have grown into core distribution channels, along with strengthening the fundamental competitiveness of broadcasting and telecommunications services to provide differentiated customer experiences.”

This content was produced with the assistance of AI translation services.