LG Electronics is expanding its subscription business, which has focused on Asia, including Malaysia and Thailand, to the Middle East.
Park Won-jae, LG Electronics head of IR (senior vice president), said on the 30th during the second-quarter earnings conference call, "The overseas subscription business continues to grow," and "We are pushing to expand the business into new regions, including Middle Eastern countries, as well as Asia, such as Malaysia and Thailand."
Park said, "Although we are still in the early stages of overseas expansion, we will accelerate growth by swiftly building country-specific business infrastructure," and "We will improve performance through upgrading the business portfolio, including business-to-business (B2B) and the subscription business."
LG Electronics' second-quarter subscription business revenue this year was 660 billion won, up 5% from a year earlier and 4% from the previous quarter. The subscription business includes rental, lease, and maintenance service revenue from the Home Appliance Solution (HS), Media Entertainment Solution (MS), and Eco Solution (ES) business units.