Page 5 - Lg Electronics

LG India files DRHP with Sebi to raise Rs 15,000 crore through IPO

South Korean parent to sell 15% stake

LG Electronics India files for IPO; 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 adds Axis Capital to arrange $1.5 billion for potential IPO listing

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

LG Electronics India posts 7% revenue growth, 12% rise in profit for 2024

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

LG Electronics' FY24 revenue rises 7.5% to Rs 21,352 cr, profit grows 12.3%

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 Electronics picks banks for $1.5 billion listing of Indian unit

LG has tapped banks including Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co. and Morgan Stanley as arrangers for an IPO

LG Electronics weighs IPO in India to help chase its $75 billion goal

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

Why are India's consumer durable makers locked in intense warranty war?

Brands are offering warranties on washing machines and dishwasher motors for up to 20 years, which are being marketed as 'lifetime' guarantees

LG Electronics plans IPO in India to boost fundraising, claims report

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

Premium TVs to drive growth in segment for LG, expects to grow at 30%

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

LG launches webOS based MyView Smart Monitors in India: Price, models, more

Offered in 27-inch and 32-inch display options, the LG MyView Smart Monitors are priced at Rs 24, 500 onwards

LG enters self-laundry service in India, to invest $4 million in 2024

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

LG unveils QNED 83 series smart TVs in India: Know price, features and more

The LG QNED 83 series features 120Hz refresh rate displays with support for Dolby Vision

LG launches XBoom series of speakers, Tone Fit TF7 wireless earphones

The LG Tone fit TF7 will be available for purchase starting from August onwards, with a starting price of Rs 12,500

India to see LG's highest sales growth globally this year: MD Hong Ju Jeon

LG India will boost localisation of its products by increasing the use of locally produced components from 50% to 70%

LG launches Gram series laptops, Ultra PC in India: Price, specs, and more

The 2023 LG Gram line-up includes LG Gram (17Z90R, 16Z90R, and 14Z90R), LG Gram Style (14Z90RS), LG Gram 2-in-1 (16T90R), and LG UltraPC (16U70Q)

LG S95QR 9.1.5 sound bar review: Expansive audio for cinema-like experience

At Rs 109,990, the LG S95QR is one-of-its-kind 9.1.5 channel sound bar audio system. It is feature-packed with everything that one expects from a premium home-theatre audio system

Jaguar recalls I-Pace electric vehicles due to fire risk in batteries by LG

Jaguar is recalling more than 6,000 I-Pace electric SUVs in the US due to the risk of the high-voltage battery overheating and catching fire. The recall is the latest in a series of electric vehicle battery recalls because of the potential for fires. Documents posted on Wednesday by the US National Highway Traffic Safety Administration say the recall covers all of the SUVs from the 2019 through 2024 model years. The documents say the vehicle batteries were made by LG Energy Solution, which is under investigation by the NHTSA after five automakers issued recalls due to possible defects that could cause fires or stalling. The NHTSA opened the probe in April of 2022 covering more than 138,000 vehicles with the South Korean company's lithium-ion batteries. General Motors, Mercedes-Benz, Hyundai, Stellantis and Volkswagen have issued recalls since February of 2020, most due to internal battery failures that can increase the risk of fires. The agency says it will write to LG and other

Hyundai Motor, LG Energy Solution to invest $4.3 bn in US battery plant

In October, Hyundai Motor Group began the construction of a 300,000-unit-a-year EV and battery plant in Georgia, aiming to begin commercial production in the first half of 2025

LG India expects 10% growth, exploring new business categories, says MD

LG Electronics India expects around 10 per cent growth in FY24 and exploring new business categories here besides investing further in its manufacturing ecosystem, said its Managing Director Hong Ju Jeon on Wednesday. India is an important market for the South Korean chaebol, where it sees a "big potential" as the economic situation is bright compared to other global markets with a growing population with more youths, he said. The company is working towards increasing the domestic value addition of India-made products and is even inviting its sister concerns from South Korea to set up plants for component manufacturing here, Jeon told PTI in an interaction here. It is also looking to increase exports to other countries from India by enhancing the cost competitiveness and more products in its offerings. "We will support the India government's make-in-India initiatives and will increase the exports from here and contribute to the Indian Economy," said Jeon. Jeon also lauded India's