LG Electronics Inc. (LG) reported revenue of 21.69 trillion won (14.4 billion euros) in the second quarter of 2024, up 8.5% from the second quarter of 2023. Operating profit jumped 61% to 1.2 trillion won (0.8 billion euros)
These figures mark a new record in the company’s history as they are the highest revenue and operating profit ever recorded in the second quarter.

Leading the performance were the home appliances and vehicle components sectors, which achieved their highest quarterly revenues to date.Subscription business, which bundles products and services, is also growing. After its success in Korea, LG is expanding this model internationally. Last year, subscription revenue exceeded KRW 1 trillion, and this year growth is accelerating. As of June, 36.2 percent of major home appliances sold at LG Brand Shops in Korea were subscription-based. This business model will now be introduced to global markets. For example, LG has launched LG Rent-Up in Malaysia, offering subscriptions for nine products, including washing machines, dryers and refrigerators