Top Section
Explore Business Standard
Don’t miss the latest developments in business and finance.
LG has unveiled a new concept model with a floor lamp-inspired design that combines a projector with a Bluetooth speaker and LED mood lamp
LG's new AI features include a Microsoft's Recall-like "Time Travel" feature which will allow users to revisit web pages, documents, videos and audio files
The company is planning to start a formal roadshow for LG Electronics India Pvt's IPO within the next two months and is targeting a listing in the first half of 2025
The IPO, which is entirely an offer for sale (OFS), will see Seoul-based parent LG Electronics divesting up to 101,815,859 equity shares of face value Rs 10 each from its Indian subsidiary
LG Electronics India has plans to set up a new plant in Andhra Pradesh to boost its manufacturing capacity in the country, though it also fears competition from its South Korean parent entity. Besides, it is increasing the sourcing of raw materials from the local market, which is helping it meet consumer demands and lower its inventory and related costs, allowing the company to competitively price the products, said LG in its DRHP filed with markets regulator Sebi. However, it also added that despite localisation efforts, there is a persisting reliance on foreign components and finished products, especially in the premium segment. "Key imports are primarily sourced from countries such as China, South Korea, and Japan, reflecting a strategic focus on enhancing product quality and technological advancement," it said. Moreover, dependence on its top-five suppliers and top-10 suppliers that contributed 21.45 per cent and 31.44 per cent to its total purchase of raw materials and ...
South Korean parent to sell 15% stake
Its South Korean parent company LG Electronics Inc will sell 10,18,15,859 equity shares of face value of Rs 10 each, according to DHRP
LG may seek to raise $1 billion to $1.5 billion from the share sale, which could give LG Electronics India Pvt Ltd. a valuation of about $13 billion
In its segment-wise revenue, LG reported Rs 5,672 cr from the home entertainment division, under which it sells televisions, audio systems, DVDs, monitors, and security cameras, among other products
Leading appliance maker LG Electronics India reported a 12.35 per cent rise in profit to Rs 1,511.1 crore for FY24, and its revenue from operations grew 7.48 per cent to Rs 21,352 crore, according to financial data accessed by the business intelligence platform Tofler. The company, which is not publicly listed, had posted a profit after tax at Rs 1,344.9 crore and its revenue from operations stood at Rs 19,864.6 crore for the financial year that ended in March, 2023. LG Electronics India's total income for FY24 increased 7.2 per cent to Rs 21,557.1 crore, while its revenue from other income sources registered a 16 per cent decline at Rs 205.1 crore. The pre-tax profit of the company, a wholly-owned subsidiary of South Korea-based LG Electronics, increased by 11.9 per cent to Rs. 2,037.1 crore. The total tax expense of LG Electronics India in FY24 rose by 11.36 per cent to Rs 526 crore as against Rs 472.3 crore a year ago. LG Electronics India's total expenses increased 6.73 per
LG has tapped banks including Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co. and Morgan Stanley as arrangers for an IPO
Chief Executive Officer William Cho said an Indian market debut is one of several options it's weighing to revitalise a decades-old consumer electronics business
Brands are offering warranties on washing machines and dishwasher motors for up to 20 years, which are being marketed as 'lifetime' guarantees
A South Korean business daily reported that the LG Group has approached foreign investment banks and local law firms to discuss the listing of LG Electronics in India's stock market
The 55-inch TV category is fast becoming a bigger chunk of the market for the company, recording a growth of 30-35 per cent
Offered in 27-inch and 32-inch display options, the LG MyView Smart Monitors are priced at Rs 24, 500 onwards
Leading home appliances maker LG Electronics India on Wednesday announced its entry into the self-laundry services space, where it is planning to invest USD 4 million (around Rs 33.2 crore). The company has announced a new business venture -- innovative self-laundry service, which will be for university students, said a statement from LG Electronics India, a wholly owned subsidiary of South Korean chaebol (conglomerate) LG Electronics Inc. The company said it is planning to open 200 such self-laundry service centres by the end of this year. LG's foray into the commercial washing machine multi-housing business introduces a new line of services, bringing self-laundry solutions to college and university hostels, the company said in a statement. The first self-laundry service under the initiative is being introduced by LG Electronics in a private university in Greater Noida, which will serve 1,500 students, it said. LG Electronics India MD Hong Ju Jeon said, "With self-laundry service
The LG QNED 83 series features 120Hz refresh rate displays with support for Dolby Vision
The LG Tone fit TF7 will be available for purchase starting from August onwards, with a starting price of Rs 12,500
LG India will boost localisation of its products by increasing the use of locally produced components from 50% to 70%