LG Electronics overtook Whirlpool of the U.S. to become the world's No. 1 player in the home appliance business for the first time in the first half of this year.
In particular, it is considered to be more meaningful as LG Electronics successfully overcame adverse conditions such as the U.S. government's washing machine safeguard (emergency import restrictions) that was invoked last year due to a petition from Whirlpool.
LG Electronics made an announcement on July 30 that its H&A (Home Appliance & Air Solution) Business Headquarters, which is in charge of household appliances business, made 11.56 trillion won in sales in first half of this year.
Sales at H&A Business Headquarters rose 11.7 percent to 6.1028 trillion won in the second quarter from 5.465 trillion won in the first quarter. It surpassed the 6 trillion won in sales for the first time in history, and its operating profit was also the best in the second quarter of its history.
As a result, LG Electronics' sales in the first half of this year surpassed those ($9.9 billion or 11.3 trillion won) of Whirlpool, the world's leading consumer electronics maker, for the first time.
The sales figure is much higher than its other rival, Sweden's global home appliance maker Electrolux (about 7.5574 trillion won).
It also beat Whirlpool ($454 million or 520.3 billion won) by a wide margin in terms of operating profit. LG Electronics' H&A division's operating profit in the first half was 1.4451 trillion won, about three times that of Whirlpool. LG Electronics has already outperformed Whirlpool since 2017 in operating profit.
