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LG Electronics Inc. CEO Kwon Bong-Seok vowed to improve the company's mobile communications business next year amid the pandemic.
Kwon noted that the company has been under an emergency management system for quite some time now due to the pandemic, but operations went back to normal in the second half.
According to Kwon, they are reinforcing cost competitiveness and are eyeing growth in the mobile communications business.
The mobile business of South Korea's No. 2 tech firm suffered an operating loss of 148.4 billion won in the third quarter, improving by 58.1 billion won from the previous quarter.
It has been in the red since the second quarter of 2015.
Meanwhile, pent up demand for its home appliances boosted LG's overall performance in the third quarter, posting an operating income of 959 billion won, up 22.7 percent on-year.
Sales reached 16.9 trillion won, surging 7.8 percent from last year.
Kwon was the recipient of South Korea's top order of industrial service merit at an event organized by the Ministry of Trade, Industry and Energy for his role in developing LG's innovative electronics products, including rollable TVs.
