Samsung Electronics: Q3 2023
Third-quarter earnings guidance will be released on October 11, 2023.
- Consolidated revenue: KRW 67 trillion.
- Consolidated operating profit: KRW 2.4 trillion.
- Revenue: KRW 66 trillion ~ KRW 68 trillion
- Operating profit: KRW 2.3 trillion ~ KRW 2.5 trillion
Historical figures for reference:
- 2023 2Q Revenue: KRW 60.01 trillion, Operating profit: KRW0.67 trillion won.
- 2022 3Q Revenue: KRW 76.78 trillion, Operating income: KRW10.85 trillion won.
LG Electronics: Q3 2023 Figures
This is an increase of 30% compared to Q3 2022 and Q2 2023. B2B focus areas: auto parts and HVAC. The consumer segment focuses on LG OLED TVs and the LG Objet Collection.
Shift to "smart life solution" noted in Q3 results.
- Launched LG ThinQ UP 2.0: Combines home appliances with subscription services.
- LG automotive component solutions: Order backlog expected to reach KRW 100 trillion by the end of the year.
- LG Home Entertainment's direction: From product-based to a media and entertainment platform; projection of 300 million units running webOS by 2026.
- LG Business Solutions: Focus on IT products and emphasis on electric vehicle charging.
Observations to consider:
- Trends: Resilient performance was observed at both companies, noting LG's 30% increase in operating profit from previous quarters.
- Strategy shift: LG is shifting from a pure product focus to service integration, as seen in its home appliances and subscription services.
- Forward-looking plans: LG's focus on electric vehicles indicates its future strategic direction.
- Relative size: While Samsung's revenue is still more considerable, both companies show steady growth in their respective fields.
- Efficiency measures: LG's shift toward digital transformation encompasses several operational areas, from manufacturing to sales.