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LG expected to become world’s No. 1 electronics maker

Posted October. 23, 2021 07:32,   

Updated October. 23, 2021 07:32


LG Electronics will likely become No. 1 electronics maker in the global market this year by beating over Whirlpool of the U.S.

Whirlpool said Thursday that it posted a total sale of 5.488 billion U.S. dollars and operating profit of 550 million dollars in the third quarter of the year. Industry insiders say LG Electronics Home & Appliances business division posted a total sale of about about 5.95 billion dollars and operating profit of 425 million dollars during the same period to beat Whirlpool in overall sales in the third quarter as well. The business division will make public disclosure on details on October 28.

As a result, LG Electronics, which has posted a cumulative sale that exceeds Whirlpool by about 1.34 billion dollars in the first half, will likely widen the gap in cumulative sales with the latter by more than 1.7 billion dollars through the third quarter of this year.

Last year, Whirlpool was lagging behind LG in cumulative sales through the third quarter, but successfully came from behind to beat LG in the fourth quarter thanks to a sales boom during “Black Friday” sales event. This year, however, it will not be easy for Whirlpool to make it again. It is unlikely to see year-end sales boom due to global shortage of semiconductor supply and logistics disruptions, while the overall sales gap has widened from 714 million dollars last year to 1.34 billion dollars this year.