LG Electronics logged 6.4 percent drop in operating profit due to slow demand recovery in global home appliances and surge in logistic costs last year, the company said.

The Korean electronics giant posted 3.4 trillion won ($2.4 billion) in operating profit for the full year of 2024, according to its earnings announcement on Thursday, falling short of 3.7 trillion won market consensus compiled by FnGuide.

Its revenue marked a record high of 87.7 trillion won during the same period.

Growth of home appliance and vehicle solutions businesses contributed to the record-high generation of revenue in 2024, the company explained. Its TV and business-to-business sales also improved its sales last year.