[Concall] LG Electronics "Electric Vehicle Components Order Backlog 100 Trillion Won... Expected to Increase Next Year"
Kim Ju-yong, Executive Vice President of VS Management at LG Electronics, stated during the Q3 earnings conference call on the 24th that regarding the order backlog of the VS Business Division responsible for automotive components, "As of the end of September, the order backlog recorded approximately KRW 100 trillion, achieved through successful proactive new order activities based on differentiated products and market positioning."
Kim said, "Due to the recent stagnation in the electric vehicle market, some projects are expected to experience revenue declines and delays, which may have some impact on the order backlog; however, this year's order backlog has increased compared to the previous year," adding, "The upward trend in the order backlog is expected to continue next year as well."
He continued, "Regarding the proportion by major business areas, infotainment products account for 60% of the total backlog, electric vehicle parts 25%, and automotive lamps about 15%."
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