LG HelloVision Posts 173% Surge in Q3 Operating Profit, Strengthens Management Efficiency

Sales Decrease Due to Absence of Educational Institution Device Project
Focusing on Core Business Operations and Defending Profitability

LG HelloVision announced on November 5 that its sales for the third quarter of this year reached 298.5 billion won, with an operating profit of 9 billion won. While sales decreased by 7.7% compared to the same period last year, operating profit surged by 173%.

Sales declined by 7.7% year-on-year and by 15.7% compared to the previous quarter. This temporary drop in sales was due to the absence of a one-off project supplying educational institution devices. Operating profit improved, increasing by 172.8% year-on-year. This was mainly driven by the easing of depreciation expenses and the streamlining of cost structures following the recognition of impairment losses on tangible and intangible assets last year.

By business segment, the company recorded 122.7 billion won in broadcasting, 34.2 billion won in telecommunications, and 38.8 billion won in MVNO. Regional businesses, including media and business-to-business (B2B) operations, posted 52.8 billion won, while the rental segment recorded 49.5 billion won. Other businesses, which did not include revenue from educational smart devices, amounted to only 400 million won.

LG HelloVision focused on defending profitability through cost reduction and operations centered on its core businesses. In the MVNO segment, the company contributed to the spread of the 'unlocked phone + budget phone' trend by expanding its direct online mall and introducing reasonable USIM rate plans.

The rental segment showed growth thanks to demand for seasonal home appliances. Increased sales of air conditioners, dehumidifiers, and air purifiers during the summer season served as a pillar of overall performance.

LG HelloVision is strengthening the fundamentals of its rental business operations and advancing its business structure with a focus on profitability. In the media business, the company is enhancing the value of pay TV by securing competitive content. Through the 'The Life' channel, it has attracted viewers' attention by presenting locally tailored programs.

Lee Minhyeong, Executive Director (CFO) of LG HelloVision, stated, "In the challenging broadcasting and telecommunications market, we are focusing on management efficiency and securing profitability," adding, "Even in times of change, we will continue to focus on our core businesses and lay the foundation for a return to normal operations."

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