Seoul: LG Electronics Inc. reported a significant increase in its second-quarter net income, with a rise of nearly 30 percent from the previous year, primarily attributed to robust sales of its premium home appliances.

According to Yonhap News Agency, the South Korean consumer technology giant announced a net profit of 781.3 billion won (US$542.4 million) for the April-June period, marking a 28.1 percent increase compared to the same period last year. The company also achieved an operating profit of 1.57 trillion won for the quarter, a substantial increase from 639.4 billion won a year ago, while sales surged by 14.9 percent year-on-year to 23.82 trillion won.

The impressive performance was driven by strong sales in the premium home appliance and television sectors, alongside heightened demand linked to major global sporting events. Additionally, the continued expansion of LG's vehicle components business contributed to offsetting geopolitical uncertainties in the Middle East.

The division responsible for LG's home appliance business reported sales of 7.08 trillion won and an operating profit of 685.9 billion won. Meanwhile, the television business division achieved sales of 5.11 trillion won with an operating profit of 219.4 billion won. The vehicle solution operation also demonstrated steady growth, posting sales of 3.03 trillion won and an operating profit of 191.2 billion won.