According to the report, under the influence of concerns about the global economic downturn, the decline in demand for consumer electronics has also affected the performance of Samsung Electronics, LG Electronics, and other manufacturers, resulting in a sharp decline in their profits.
Although the situation of Samsung Electronics and LG Electronics is not optimistic, the increasing demand for electric vehicle batteries, driven by the increasing demand for electric vehicles, has pushed up the performance of battery manufacturers, Samsung and LG, two conglomerates under the battery manufacturers Samsung SDI and LG New Energy are also benefiting manufacturers.
According to the financial report released by LG New Energy on Wednesday, their revenue in the third quarter was 7.648 trillion won, a year-on-year increase of 89.9% and a month-on-month increase of 50.8%; an operating profit of 522 billion won, a month-on-month increase of 166.8%.
Samsung SDI’s third-quarter financial report has also been released. The financial report shows that the revenue was 5.368 trillion won, equivalent to about 3.769 billion US dollars, higher than the 3.44 trillion won in the same period last year, a year-on-year increase of 56.1%; also higher than the 4.74 trillion in the previous quarter, a month-on-month increase of 13.2%.
In terms of profit, the financial report shows that operating profit was 565.9 billion won, an increase of 51.5% year-on-year and 31.9% month-on-month; net profit of 638.3 billion won, a year-on-year increase of 51.8% and a month-on-month increase of 56%.