LG Electronics said on Tuesday it posted third-quarter consolidated revenue of 23.82 trillion won and operating profit of 781.9 billion won. Revenue rose 8.9 percent from a year earlier and operating profit gained 13.5 percent. For the first nine months, revenue totalled 71.38 trillion won and operating profit was 4.03 trillion won. That was up 9.2 percent and 55.9 percent, respectively, from a year earlier.

The company improved results on growth in its main businesses. Subscription business revenue rose 8.6 percent from a year earlier to 760.0 billion won. B2B revenue increased 3.4 percent to 6.1 trillion won. Home appliances and vehicle components maintained stable profitability. Media and entertainment businesses such as TVs delivered a sharp improvement from a year earlier, the company said.

The HS Home Appliance Solution division posted revenue of 7.04 trillion won and operating profit of 259.2 billion won. A two-track strategy targeting both premium and volume segments was effective, and higher logistics and marketing costs were offset by operational efficiency. Revenue exceeded 7 trillion won for a second straight quarter. In the fourth quarter, it plans to increase sales mainly in the global south where demand is steady.

The MS Media Entertainment Solution division posted revenue of 5.02 trillion won and operating profit of 146.7 billion won, both sharply improved from a year earlier. The company cited higher sales of premium products such as OLED TVs and expanded sales in emerging markets.

In the fourth quarter, cost pressure from memory and panels is set to continue, and TV demand is expected to fall from a year earlier as consumer sentiment weakens due to high oil prices and high interest rates. The company plans to strengthen structural competitiveness by expanding premium sales.

The VS Vehicle Solution division posted revenue of 2.83 trillion won and operating profit of 190.3 billion won, both third-quarter records. The company cited conversion of its existing order backlog into sales and growth in its IVI in-vehicle infotainment business. In the fourth quarter, a recovery in demand from automakers will be limited, but it will continue to grow revenue based on secured orders and focus on strengthening cost competitiveness.

The ES Eco Solution division posted revenue of 2.17 trillion won and operating profit of 87.2 billion won. Sales increased in overseas commercial HVAC markets, but higher costs to respond to expanded orders for new businesses partly affected profitability.

In new businesses, cumulative orders for AIDC AI data centre cooling solutions topped 3 trillion won. That was a sharp increase from about 600.0 billion won in the first half. The company is making an additional 220.0 billion won investment to expand production capacity, including securing a production base in the United States, and in the fourth quarter it will prioritise responding on time to large projects.

In robotics, the country’s largest data factory has begun partial operations. It is preparing infrastructure for mass production of actuators and conducting order-winning activities for potential global customers in parallel. In AI home, it is promoting an IoT internet of things technology-based ecosystem with global big tech companies.

Separately, LG Electronics plans to cancel all 730,000 treasury shares it bought this year within the fourth quarter.