May 04, 2020 13:22
LG has regained the lead in the global home appliance market, overtaking Whirlpool in both sales and operating profit in the first quarter of this year.
LG outpaced Whirpool in the first half of last year but then fell back to second place.
Whirlpool posted sales of US$4.33 billion and operating profit of US$260 million in the first quarter, while LG posted W5.42 trillion in sales and W753.5 billion in operating profit, W150 billion and W440 billion more than Whirlpool (US$1=W1,219).
The reason was probably that LG expanded its product lineup by launching new appliances with advanced technologies such as air purifiers, dryers and clothing care gadgets.
LG expects to lead the market throughout the first half of this year since Whirlpool is more dependent on the U.S. market, where the slump is expected to be more severe due to President Donald Trump's mishandling of the coronavirus crisis.
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