LG Electronics' Q3 Operating Profit 21% ↓...Sales are maxed out.

LG Electronics' operating profit fell nearly 21% in the third quarter of this year due to the increase in logistics costs.

LG Electronics tentatively estimated that its operating profit in the third quarter of this year was KRW 750 billion, down 20.9% from the third quarter of last year.

However, sales rose 10.7% to 22.2 trillion won, the highest ever third-quarter performance.

Net profit fell 81.4% to 90.2 billion won.

LG Electronics said that rising sea freight rates due to the inevitable external environment contributed to the increase in costs, and nonetheless, sales grew for the fourth consecutive quarter due to changes in business models and accelerated business-to-business transactions.