LG Innotek (CEO Ung-Beom Lee) will step up efforts to achieve 6 trillion won in annual sales, a record for the Company, and to boost capacity to spearhead the market this year.

LG Innotek said it will achieve 6 trillion won in sales this year by expanding high value-added products in the main business and growth sectors despite uncertain business environment, and focus on efforts to boost capacity to spearhead the market.

LG Innotek achieved 5,316 billion won in sales last year, and aims to top 6 trillion won in sales this year, consolidating its stature as a global enterprise.

LG Innotek posted 5,316 billion won in sales and 77.2 billion won in operating profit based International Financial Reporting Standards (K-IFRS) last year. It achieved 1,626.3 billion won in sales in the fourth quarter, a quarterly record, and 6.3 billion won in operating profit, posting surplus for four consecutive quarters. 

A company official said, “The Company consolidated its market share in the main business and established basis for competition in growth sectors last year despite challenging business environment including the global economic recession,” adding, “This year, it will further solidify its stature as a global enterprise by focusing on efforts to boost capacity to spearhead the market.” 

LG Innotek plans to invest 400 billion won in the main business and next generation growth sectors this year in order to boost capacity to lead the market. By making facilities investment in camera modules, touch windows, and PCBs for smartphones and tablet PCs, the Company plans to develop and strengthen them to market-leading businesses.

To focus on boosting capacity to spearhead market

In the LED business, the Company will secure outstanding performance and quality of its products, and thus create a virtuous cycle in the business, while focusing on improving costumer structure and profitability. It will aggressively step up efforts to boost sales by introducing new products and diversifying customers.

In the automotive business, LG Innotek plans to expand sales by widening the business scope through fusion and convergence of products based on its own technology, and by conducting proactive promotion to overseas customers.

In the PCB and materials business, the Company plans to secure advanced technologies and strategic customers in order to boost global competitiveness. As for the touch window segment, it plans to spearhead the market through the development of trend-setting products by banking on its superior technology.

In the optical solution business, the Company plans to enhance profitability by stabilizing yield of camera modules and by improving productivity.

In order to achieve the mission to spearhead the market, it will continue to implement innovation of its working culture.

In an effort to spearhead the global market, the Company plans to continuously change its working culture to ensure that the entire organization can be thoroughly focused on the “creation of customer value,” and establish a “Company where staff members aspire to come to work,” where executives and staff members can feel sense of achievement and presence. 
 

* The above data suggest consolidated operating performance based on IFRS adopted by Korea.

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