LG HelloVision Reports Operating Profit of 4.1 Billion KRW, Down 64.8% YoY

Sales of 267.2 billion KRW... 3.7% Decrease YoY
Performance Decline Due to "One-time Revenue Base Effect from Same Period Last Year"

LG HelloVision announced on the 9th through a preliminary business performance disclosure that its operating profit for the first quarter was 4.1 billion KRW, a decrease of 64.8% compared to the same period last year.

Sales amounted to 267.2 billion KRW, down 3.7% year-on-year, and net profit recorded 1.5 billion KRW.

LG HelloVision stated, "The decrease in performance was affected by the base effect of one-time revenue such as the sale of educational smart devices reflected in the first quarter of last year," adding, "The device supply project order from the Jeonbuk Office of Education last month is expected to be reflected in the second half, which should help recover performance."

By business segment, broadcasting achieved 128.1 billion KRW, telecommunications 33.9 billion KRW, and the MVNO (Mobile Virtual Network Operator) business revenue reached 38.2 billion KRW. Regional-based businesses including media and B2B recorded 42.8 billion KRW, and rental recorded 23.8 billion KRW.

In the broadcasting and telecommunications sectors, performance slightly declined due to the contraction of the cable TV market. LG HelloVision plans to improve performance with 'HelloTV Pro,' the first technology-neutral product based on Internet Protocol (IP) launched last month. In the MVNO sector, subscriber net growth is being maintained through the expansion of USIM self-supply associations and direct-operated malls.

Rental and regional-based businesses showed improved results. In the rental sector, demand increased for MZ generation-specialized products such as robot vacuum cleaners and StanbyMe. The media sector, after acquiring the broadcasting channel usage business (PP), is presenting content based on regional characteristics and diversity, such as 'Notable Women Season 5.'

In regional channel commerce, differentiated products such as 'Ttangkkeut Village Haenam Kimchi,' 'Namwon Chueotang,' and 'Sunchang Gochujang Bulgogi,' created in collaboration with local governments, are being discovered.

Lee Min-hyung, CFO of LG HelloVision, said, "Despite changes in the internal and external business environment in the first quarter, we confirmed the growth potential of the rental and regional-based businesses," adding, "We will stably secure subscribers through the newly launched 'HelloTV Pro' and strengthen future competitiveness through regional cultural businesses and educational projects."

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