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LG Electronics' TV factory runs at 75% capacity amid slow demand

Seoul, May 15 (IANS) LG Electronics ran its TV manufacturing plant at around 75 per cent in the first quarter, the company said on Monday, amid slowing demand for home entertainment products.

The tech company said in a regulatory filing the rate came in at 75.3 percent for the three months ending in March, the lowest since March 2015 when the corresponding figure was 68.1 percent, reports Yonhap news agency.

LG’s TV business made a turnaround in the first quarter, after making losses for the past three consecutive quarters, thanks to improving TV demand in Europe, LG’s biggest OLED TV market, and decreasing inventory levels and marketing costs.

Meanwhile, LG operated its manufacturing facilities for electric vehicle (EV) components at a record high of 99 per cent, up from 88.2 per cent in the same period last year.

LG’s EV business reported an all-time high of 54 billion won (US$40.3 million) in operating profit in the first quarter.

It also said the value of orders for its electric vehicle component solutions, such as in-vehicle infotainment systems and headlamps, has reached a cumulative 80 trillion won, amid the explosive growth of electric vehicles.



Agency News Desk
Agency News Desk
The Agency News Desk comprises team members including Puja T, S Ghadashi, N N Sethi, curate & publish news-worthy domestic & international content from the designated news agencies like Indo Asian News Service, others. The content team can be contacted on and on @glamsham on social media platforms. Kindly visit for more information
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