LG ANNOUNCES FOURTH-QUARTER   AND FULL-YEAR 2024 FINANCIAL RESULTS

LG ANNOUNCES FOURTH-QUARTER AND FULL-YEAR 2024 FINANCIAL RESULTS

26 January 2025 - 19:25

written : رشاد اسكندراني

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Rashad Iskandrni

 

Company Achieves Highest Annual Revenue as Home Appliances and Vehicle Components Continue Growth for Ninth Consecutive Year

 

Riyadh, Jan. 26, 2025 — LG Electronics Inc. (LG) announced its financial results for the year 2024, disclosing a consolidated revenue of KRW 87.73 trillion and an operating profit of KRW 3.42 trillion. This marks a new record for the highest annual revenue in the company’s history.

 

In terms of revenue, both the home appliances and the vehicle components business continued their growth for the ninth consecutive year, contributing to the company’s highest revenue achievement. The LG Home Entertainment Company and Business Solutions Company also saw an increase in revenue compared to the previous year.

Operating profit experienced a slight decline compared to the previous year, primarily due to external factors such as a delayed recovery in global demand for home appliances and increased logistics costs in the second half of the year. Despite these challenges, the company maintained a stable profit structure on an annual basis. This stability was achieved through qualitative growth resulting from business portfolio restructuring and the operating leverage effect from increased sales.

 

2024 Business Performance

The LG Home Appliance & Air Solution Company reported a revenue of KRW 33.2 trillion in 2024. After surpassing KRW 30 trillion in annual revenue for the first time two years ago, the Company has continued to demonstrate sustainable performance, achieving double-digit revenue growth last year. Operating profit reached KRW 2.04 trillion, overcoming the challenges posed by increased logistics costs. This marks the first time since 2021 that the Company has exceeded KRW 2 trillion in operating profit.

The Company’s qualitative growth was driven by changes in its business models, which include home appliance subscriptions and Direct-to-Consumer sales. Revenue from home appliance subscriptions surged by over 75 percent compared to the previous year, nearing KRW 2 trillion. In addition, the B2B segment, which includes heating, ventilation, and air conditioning (HVAC) systems, continued to expand.

 

The LG Home Entertainment Company reported a revenue of KRW 15.23 trillion and an operating profit of KRW 315.9 billion in 2024. Sales of OLED TVs saw growth in regions such as Europe and Asia, driven by global sports events. Additionally, the webOS-based advertising and content business surpassed KRW 1 trillion in annual revenue.

The LG Vehicle component Solutions Company reported a revenue of KRW 10.62 trillion in 2024, marking the second consecutive year it has surpassed KRW 10 trillion in revenue. Despite experiencing a temporary slowdown in demand for electric vehicles, the Company demonstrated stable revenue growth for the ninth consecutive year, supported by a high order backlog. However, operating profit decreased to KRW 115.7 billion compared to the previous year, primarily due to increased development costs for new order projects and R&D investments aimed at transitioning to software-defined vehicles (SDV).

 

The LG Business Solutions Company reported a revenue of KRW 5.69 trillion in 2024, with an operating loss of KRW 193.1 billion. The increase in revenue was driven by a focus on customized commercial displays for sectors such as hotels, stores, businesses and schools, as well as premium IT products like the LG gram. However, the Company continued to face operating losses due to rising raw material prices for key products and intensified market competition.

 

2025 Business Directions

LG will consistently pursue qualitative growth through business portfolio innovation, despite the rapidly changing global market and competitive environment. Following the regrouping of the company’s business operation units at the end of last year, LG aims to enhance synergies between its businesses and improve operational efficiency. Additionally, LG will focus on strengthening the fundamental competitiveness of its businesses in terms of quality and cost, while securing a sound profit structure.

 

The LG Home Appliance Solution Company plans to launch new products with regional specialization and AI applications, aiming to expand sales by increasing sales of its volume zone lineups. The Company will also advance its AI home solution business to achieve its goal of “Zero Labor Home, Makes Quality Time.” Additionally, the subscriptions business will actively expand beyond Korea, Malaysia and Taiwan to include Thailand, India and other regions, continuously creating new opportunities.

 

The LG Media Entertainment Solution Company aims to expand sales of premium products such as OLED and QNED, while providing differentiated customer experiences through AI features. The Company will integrate operations of LG’s screen-based businesses – including TVs, IT devices and information displays – to enhance synergies between hardware and platform businesses. Additionally, webOS will be developed into an integrated content and services platform for both indoor and outdoor use through continuous content investment and partnership expansion.

 

The LG Vehicle Solution Company aims to focus on going beyond a supplier of vehicle components to becoming a provider of innovative solutions for the entire vehicular experience. The Company will focus on securing SDV capabilities in preparation for the future. It will also strive to maintain stable revenue based on its order backlogs while improving profitability through product mix enhancement and overall operational improvements.

 

The newly established LG Eco Solution Company aims to rapidly grow LG’s HVAC business into a global top-tier player by leveraging its core technological competitiveness in key components such as motors and compressors. The Company will focus on building locally self-sustainable production systems and developing region-specific solutions. It will provide comprehensive solutions optimized for various spaces, including industrial, commercial, public and residential facilities, ranging from large chillers to commercial and residential air conditioners.

 

 

Earnings Conference and Conference Call 

LG Electronics will hold a Korean / English conference call on January 23, 2025, at 16:00 Korea Standard Time (07:00 GMT/UTC). Conference call participants are instructed to pre-register online to receive a private PIN. To participate in the conference call, dial +82 31 810 3130, enter passcode 6418# and then the PIN. The corresponding presentation file will be available for download at the LG Electronics website before the call.

 

# # #

 

 

About LG Electronics, Inc.

LG Electronics is a global innovator in technology and consumer electronics with a presence in almost every country and an international workforce of more than 74,000. LG’s four Companies – Home Appliance Solution, Media Entertainment Solution, Vehicle Solution and Eco Solution – combined for global revenue of over KRW 88 trillion in 2024. LG is a leading manufacturer of consumer and commercial products ranging from TVs, home appliances, air solutions, monitors, automotive components and solutions, and its premium LG SIGNATURE and intelligent LG ThinQ brands are familiar names world over. Visit  for the latest news.

www.LGnewsroom.com

 

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Netflix releases the legacy trailer and key art for Squid Game Season 3 Coming June 27, 2025

Rashad Iskandrni

 

 

Netflix released the legacy trailer for Squid Game S3. This marks the final trailer to be released ahead of the season finale launching on June 27.

 

The Key Art of player 456 (Lee Jung-jae) and Front Man (Lee Byung-hun) was also released a day before the trailer. 

 

Logline:

The third and final season of Squid Game follows Gi-hun (Lee Jung-jae) after losing his best friend in the game and being driven to utter despair by The Front Man (Lee Byung-hun), who was hiding his true identity to infiltrate the game. Gi-hun persists with his goal to put an end to the game, while the Front Man continues onto his next move and the surviving players' choices will lead to graver consequences with each round. The world eagerly awaits to see the grand finale written and directed by Director Hwang Dong-hyuk, who has vowed to bring the epic story to its deserved closure. Can we hope for humanity in the cruelest of realities? Fans all over the world are counting the days until the final answer is revealed.

 

 

Director Hwang Dong-hyuk, who made history at the 74th Primetime Emmys®, becoming the first Asian to win Outstanding Directing for a Drama Series, once again helms the series as director, writer, and producer. Season 3 stars Lee Jung-jae, Lee Byung-hun, Yim Si-wan, Kang Ha-neul, Wi Ha-jun, Park Gyu-young, Park Sung-hoon, Yang Dong-geun, Kang Ae-sim, Jo Yu-ri, Chae Kuk-hee, Lee David, Roh Jae-won, and Jun Suk-ho, with special appearance by Park Hee-soon.

 

 

WRITER/DIRECTOR: Hwang Dong-hyuk

EXECUTIVE PRODUCER: Kim Ji-yeon, Hwang Dong-hyuk

PRODUCED BY: Firstman Studio

 

KEY CAST: Lee Jung-jae, Lee Byung-hun, Yim Si-wan, Kang Ha-neul, Wi Ha-jun, Park Gyu-young, Lee Jin-uk, Park Sung-hoon, Yang Dong-geun, Kang Ae-sim, Lee David, Choi Seung-hyun, Roh Jae-won, Jo, Yu-ri, Won Ji-an, Lee Seo-hwan, with Gong Yoo

 

 

About Netflix:

Netflix is one of the world's leading entertainment services, with over 300 million paid memberships in over 190 countries enjoying TV series, films, and games across a wide variety of genres and languages. Members can play, pause and resume watching, as much as they want, anytime, anywhere, and can change their plans at any time.

 

Watch the legacy trailer لعبة الحبّار: موسم 3 | مقدمة الألعاب الختامية | Netflix

 

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Egyptian, Chinese music shine at NMEC concert

Rashad Iskandrni

The National Museum of Egyptian Civilisation (NMEC) was filled with a vibrant atmosphere of joy and unity as Egyptian and Chinese musicians graced the stage for a special concert entitled “Conversation and Connection: Music Connects the World.”

Organised in partnership with the Chinese Cultural Centre in Cairo, the event drew guests, dignitaries, and performers from both nations in a heartwarming celebration of shared cultural heritage.



Dr. Eltaysb Abbas, CEO of the museum, spoke about the profound ties between Egypt and China, two ancient civilisations with histories stretching back millennia.

“Music is one of the most essential threads in the fabric of any civilisation,” he said.



“Through music, we express both joy and sorrow, and it plays a vital role in our traditions, rituals, and day-to-day life. Across time, music has been a key channel for human connection, weaving us together even when separated by geography or language.”

Dr. Abbas also emphasised the museum’s commitment to celebrating not just the physical artifacts of Egypt’s grand past, but the intangible cultural treasures that continue to bring people together, including music.

 “It’s every person’s right, no matter where they are, to connect through the universal language of music,” he added, highlighting the museum’s aim to foster understanding and friendship among all civilisations.



Echoing these sentiments, the Chinese Ambassador to Egypt, Liao Liqiang, lauded both nations as proud standard-bearers of civilisation, praising their mutual respect and commitment to appreciating the world’s rich tapestry of cultures.

He mentioned Chinese President Xi Jinping’s “Global Civilisation Initiative,” a call to strengthen dialogue and learning between cultures, a vision that has found a strong partner in President Abdel Fattah El-Sisi, who recently affirmed that “human civilizations are meant to complement and benefit each other, not to create conflict or war.”

 

The Ambassador also pointed to the significant role Egypt played in supporting the creation of the International Day for Dialogue among Civilisations, as well as regional cooperation through the China-Arab Centre for the Global Civilisation Initiative, in partnership with the Arab League. These joint efforts, he said, showcase the promise of collaboration in building global peace and understanding.

The evening’s performances swept the audience into a world of sound, with Egyptian and Chinese musicians enchanting listeners with both traditional melodies and modern arrangements, a reflection of how music continues to evolve and bring new generations together, blending the richness of the past with the vibrancy of the present.

On the sidelines of the event, representatives from the Chinese Culture Centre warmly showcased a variety of their activities and products, inviting guests to learn more about Chinese traditions. Adding to the vibrant atmosphere, an Egyptian tannoura performance also took place and was met with enthusiastic praise from the attendees, who were captivated by its colourful display and lively rhythms. Both highlights beautifully reflected the evening’s spirit of cultural exchange and shared appreciation.

-End-

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Your Smartphone Camera Now Gets What You’re Looking At — and Responds

Rashad Iskandrni

 

Riyadh, Saudi Arabia – June 11, 2025 - Today’s mobile imaging goes beyond just a high-quality lens or advanced sensor — it demands seamless integration of hardware, software and AI. That’s why Samsung Electronics approaches camera innovation as a holistic system, where each advancement is supported by tightly integrated technologies. This unified vision allows Galaxy devices to continuously redefine mobile photography, empowering users to capture, create and communicate more meaningfully.

 

As AI evolves from text-based prompts to multimodal understanding, Galaxy devices are becoming smarter — able to get what you’re looking at and respond to situations. The camera is at the heart of this transformation. More than just a tool for capturing images, coupled with enhanced AI-powered features, the Galaxy camera is now part of the intuitive interface that turns what users see into understanding and action.

 

When paired with the flexible, expansive screen of a foldable, this experience becomes even more powerful, dynamic and immersive. Because innovation means nothing without trust, privacy is built into every layer helping to ensure that data is protected at all times.

 

Stay tuned. The camera will only get smarter — helping users capture lifes moments more vividly and make everyday experiences more seamless, personal and impactful.

 

The Ultra experience is ready to unfold.

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flynas Celebrates Launching Direct Flights Between Jeddah and Damascus • As the 2nd route that connects Syria to Saudi Arabia.

Rashad Iskandrni


 flynas, the leading low-cost airline in the world and the best LCC in the Middle East, celebrated launching direct flights Between Jeddah and Damascus on Thursday, June 12, following the launch of Riyadh to the Syrian capital last week, becoming the first Saudi airline to connect the two countries in 12 years, further expanding its network in line with flynas growth and expansion plan, launched under the title "We Connect the World to the Kingdom," in parallel with the objectives of the National Civil Aviation Strategy to enable national air carriers to contribute to connecting KSA with 250 International destinations and to accommodate 330 million passengers and to host 150 million tourists yearly by 2030 and the objectives of the Pilgrims Experience Program (PEP) to facilitate access to the Two Holy Mosques.

An inaugural ceremony was held at King Abdulaziz International Airport in Jeddah on Thursday, June 12, attended by representatives from flynas and the Jeddah Airports Company, which manages and operates KAIA. Travelling guests on the departing inaugural flight to Damascus were welcomed with giveaways.


Resuming flights to the Syrian capital confirms flynas' commitment to strengthening air connectivity between the two brotherly nations, as the leading LCC has been a pioneer in providing air routes between the Kingdom and various Syrian cities. flynas previously operated direct flights from Riyadh and Jeddah to Damascus, Aleppo, and Latakia. 

flynas operates 139 routes to more than 70 domestic and international destinations in 30 countries with more than 2000 weekly flights and has flown more than 80 million passengers since its launch in 2007, with the aim to reach 165 domestic and international destinations within its growth and expansion plan, and in line with the objectives of Vision 2030.

Passengers traveling with flynas can book their flights through all flynas booking channels: www.flynas.com, the flynas app, the call centre (920001234), or travel agents.

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Majid Al Futtaim and Huawei Redefine On-the-Go Shopping with Carrefour Smartwatch App

Rashad Iskandrni

 

Dubai, United Arab Emirates, June 12, 2025:  Majid Al Futtaim Retail, which owns the exclusive rights to operate Carrefour in the UAE, announces its partnership with Huawei, a global leader in technology and innovation, to launch the Carrefour Smartwatch App on the newly released HUAWEI WATCH 5, powered by HarmonyOS. This is a bold step in reimagining the retail experience for Carrefour customers. The collaboration will bring real-time services directly to customers’ wrists, blending smart mobility, personalisation, and convenience.

Designed for the mobile-first customer, this initiative introduces a new era of on-the-go retail, where users can access Carrefour’s most essential features instantly through wearable technology. With HarmonyOS integration, the app delivers smooth, intuitive experiences that support a smarter, more connected lifestyle. The app will also allow users to track orders in real time, manage their SHARE rewards — Majid Al Futtaim’s loyalty programme in the UAE — locate nearby Carrefour branches effortlessly, and receive personalised promotions along with the latest weekly deals, all conveniently from their watch, on the go.

Günther Helm, Chief Executive Officer at Majid Al Futtaim – Retail, commented: “With the global wearable technology market projected to more than double over the next five years[1], Majid Al Futtaim believes there is an opportunity to reshape retail around evolving lifestyles with convenience at the heart of how people live, connect and shop. As we continue building a retail foundation that is truly fit-for-future, the launch of the Carrefour Smartwatch App, in collaboration with Huawei, is an important milestone. It reflects our commitment to delivering highly personalised, seamless experiences, allowing customers to interact with Carrefour in smarter, more convenient ways, whether they’re at home, on the move, or in-store. This is convenience redefined for a digital-first generation.”

William Hu, Managing Director of Huawei Consumer Business Group for Middle East and Africa Eco-Development and Operation, added: “As a global technology leader, Huawei is committed to expanding the capabilities of its ecosystem. By integrating Carrefour’s services into our HarmonyOS-powered wearables, we’re offering users across the region, smarter, more seamless daily experiences.”

The Carrefour Smartwatch App is now available on the HUAWEI WATCH 5 and will soon roll out to other Huawei smartwatch variants, including the WATCH GT 5 and WATCH GT 4, ensuring wider reach across the region.

- ENDS -

 

Note to the Editor: The legal name of this company is “Majid Al Futtaim” and should not be shortened or replaced by an acronym to avoid confusion with another business entity.

 

Disclaimer: All facts and figures in this release are accurate at the time of issuance.

 

About Majid Al Futtaim Retail:

 

Founded in 1992, Majid Al Futtaim is an Emirati-owned, diversified lifestyle conglomerate operating shopping malls, communities, retail and leisure outlets, across the Middle East, Africa and Asia. The Group employs 43,000 people, with owned assets valued at US$19 billion, and has the highest credit rating (BBB) among privately held corporates in the region.

 

Majid Al Futtaim Retail holds the exclusive rights to operate Carrefour across 12 markets in the Middle East, Africa, and Asia, with a network of over 390 stores. It is also the owner and operator of HyperMax, a new grocery retail brand with 44 locations in Jordan and Oman. Additionally, the Group operates Supeco, its latest grocery retail concept—a low-cost hybrid model that combines a traditional supermarket with a wholesale warehouse—across 15 locations in Egypt, and Myli, the Group’s health and beauty brand, operating in 12 stores across Asia and North Africa.

 

To meet the growing needs of its diverse customer base and communities, Majid Al Futtaim Retail offers omnichannel customer experiences tailored to the needs of the modern consumer. Through its innovative physical and digital customer services, Majid Al Futtaim Retail provides access to an unrivalled choice of quality products, at unbeatable value for over 700,000 customers it serves daily.

 

Aligning with the Group’s commitment to support local economies, local producers and suppliers, Majid Al Futtaim Retail resources over 80 percent of its products from the region.

 

Please follow us on 

 

   https://www.facebook.com/MajidAlFuttaim 

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   https://twitter.com/majidalfuttaim 

   https://www.linkedin.com/company/majid-al-futtaim 

   https://majidalfuttaim.medium.com/ 

 

 

About HUAWEI AppGallery - Top 3 App Marketplaces Globally

 

AppGallery is HUAWEI's official app distribution platform and it is a smart and innovative ecosystem that allows developers to create unique experiences for consumers. HUAWEI’s unique HMS Core allows apps to be integrated across different devices, delivering more convenience and a smoother experience.

 

HUAWEI’s vision is to make AppGallery an open, innovative app distribution platform that is accessible to consumers, and at the same time, strictly protects users’ privacy and security while providing them with a unique and smart experience. Being among the top 3 global app marketplaces, AppGallery offers a wide variety of global and local apps across 18 categories, including navigation & transport, news, social media, and others. AppGallery is available in more than 170 countries and regions with over 580 million monthly active users. HUAWEI has partnered with 6 million registered developers across the globe.

For more information, kindly contact:

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The Lighthouse Debuts in Riyadh’s Diplomatic Quarter A Hub for Mediterranean Dining, Crafted Cocktails, and Cultural Connection

Rashad iskandrni

 

Riyadh, Saudi Arabia – 2025 – The Lighthouse, celebrated for its refined yet approachable Mediterranean dining and vibrant cultural ethos, announces the opening of its first outpost in Riyadh’s prestigious Diplomatic Quarter. This marks the brand’s highly anticipated debut in Saudi Arabia, following acclaimed venues across the UAE.

Set within the heart of Riyadh’s Diplomatic Quarter, The Lighthouse Riyadh brings the brand’s signature blend of culinary innovation, thoughtful design, and community-driven spirit to the Kingdom. The venue features a harmonious mix of indoor and al fresco spaces, designed to welcome guests from early morning breakfasts to lively evening gatherings.



Mediterranean with a Twist

The menu at The Lighthouse Riyadh is a celebration of the Mediterranean, with a focus on Eastern Mediterranean flavors. It’s a menu designed for lingering conversations and shared enjoyment, inviting guests to settle in and stay a little longer.

While mornings might begin with their Muhammarrah Eggs or a bowl of Greek Yogurt and Homemade Granoala, the all-day offering deftly transitions from day to night as the hours progress.

Guests can enjoy signature dishes such as the Truffle Rigatoni or Harissa Crusted Seabass, alongside vibrant mezze like small plates such as their Lentil Salad with pickled vegetables, Short Rib Katayefs and Chicken Musakhan Rolls. The selection of salads, sandwiches, pizzas and dessert ensures there's something for everyone, at any time.

Coffee & Mocktails

The Lighthouse Riyadh embraces coffee culture with a carefully selected range of specialty coffees that complements the dining experience, offering a caffeine-fueled journey from morning to night.

Guests can savor single-origin pour-overs, expertly prepared espresso drinks, and signature brews such as the Pistachio Frappé, the Brûléed Cappuccino or even enjoy a zero-proof Espresso Martini.

And for those who prefer to forgo the caffeine buzz, the mocktail menu is designed to offer complexity, refreshment, and a perfect pairing for the menu’s Mediterranean flavors. Highlights include Isabella – a passion fruit and pomegranate concoction,  and Rosa – a refreshing lemonade made with rose essence from Taif.



Design: Where Heritage Meets Modern Sophistication

The Lighthouse Riyadh’s interiors, designed by the renowned  London-based firm Archer Humphryes Architects with a celebrated portfolio that includes cultural hot spot Koko in Camden, the Chiltern Firehouse, and the Peninsula London, are a striking fusion of cultural heritage and modern sophistication. Drawing inspiration from the surrounding environment in DQ the design achieves a balance between timelessness and contemporary flair. The space is anchored by natural materials such as wood and lava stone, which, together with a remarkably intricate ceiling design and open kitchen layout, create a warm, inviting atmosphere grounded in craftsmanship and sustainability.

Every detail has been meticulously considered: furniture and lighting selections from Gubi, Another Country, Flos, and Serax bring elegant simplicity and sculptural presence, while a thoughtfully curated color palette adds subtle personality and depth. The environment is further enriched by original artworks from Riyadh-based multidisciplinary artist Nasser Al Mulhim, whose vibrant pieces, blending geometric and organic forms, reflect the artist’s exploration of spirituality and the human psyche.

The result is a sophisticated yet approachable setting where heritage and innovation coexist seamlessly. The design encourages guests to linger, discover, and connect, making The Lighthouse Riyadh not just a dining destination, but a cultural hub where every detail enhances the overall experience.



Community-Driven Cultural Programming

True to its roots, The Lighthouse Riyadh will host a dynamic calendar of community activations, from weekend brunches and live podcasting to evening DJ sets, transforming the venue into a social and cultural hub for the Diplomatic Quarter. This approach reflects the brand’s enduring commitment to fostering connection, creativity, and collaboration within every community it serves.

END

About The Lighthouse

Established in 2017 in Dubai Design District, The Lighthouse has become a cornerstone of the UAE’s dining scene, renowned for its unique blend of casual yet refined dining. Attracting a diverse audience from the arts and culture sectors, The Lighthouse is recognized for its Mediterranean-inspired menu and relaxed, sophisticated service style.

Rooted in the spirit of Virginia Woolf and the Bloomsbury Set, The Lighthouse embodies a philosophy centered on engaging conversations and freshly prepared meals shared among friends. This ethos is reflected in every aspect of the brand, from its thoughtfully curated retail offerings to its role as a cultural hub, hosting events and a podcast that fosters collaboration and creativity.

The Lighthouse’s reach has expanded to several licensed locations under the name 'The Lighthouse Restaurant & Bar,' including Dubai Design District, Yas Bay Waterfront in Abu Dhabi, Dubai Hills, and most recently, Riyadh. Guests can enjoy a refined setting with a carefully curated selection of mocktails, cocktails, and beers. Additionally, The Lighthouse’s Catering and Events Management teams provide tailored services, ensuring each event reflects The Lighthouse’s commitment to quality and creativity.

The Lighthouse is more than just a dining destination; it is a space where food, design, and community come together, making it a distinctive venue in the region.

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