📉 LG Electronics, Between New Business Hopes and the Risk of a TV Deficit - 2026.09.09

Hi, this is Peanut. LG Electronics is expanding news about cooperation in robotics and home appliances while once again facing the possibility of losses in its TV business. The growth story keeps getting bigger, but whether the income statement can keep up remains a separate question. Is that really the case? This time, let’s put both expectations and earnings variables on the same ledger and take a look.

⚠️ TV Business, Second-Half Earnings as the First Test

One report raised the possibility that LG Electronics’ TV business could return to a loss in the second half due to intensifying global competition and the seasonal off-season ^[1]. The important point here is that this is not an earnings forecast confirmed by the company. Since it is a possibility raised by a third party, it would be problematic to calculate as though a loss conversion were already a certainty.

Still, it is not a variable to ignore. As the story around LG Electronics’ new businesses expands into robotics, AI homes, and HVAC, weakening profitability in the existing TV business could mean that the new growth engines cannot immediately offset the burden of the existing business. Even if platform expansion is mentioned, can we verify how quickly advertising or service revenue will actually be reflected in earnings? That question remains.

Recent share-price movements also look like expectations and reality taking turns. The September 7 closing price was ₩214,000 at +6.20%, but on September 8 it recorded ₩205,000 at -4.21%, while the September 9 closing price was ₩205,000 at 0.00%. It looks close to a market that reacts to a day’s news and then checks the numbers again in the next ledger.

💼 Actuators, From an Idea to a Mass-Production Schedule

At IFA 2026, LG Electronics announced plans to establish a mass-production system for the robot actuator ‘LG Axium’ within the year and to pursue orders ^[2]. If robots were previously viewed only from the perspective of finished products or services, this announcement is new in that it targets core components as a business.

However, a plan to establish a mass-production system and actual revenue are not the same sentence. The fact that the company is beginning order-taking activities is the starting point of the business; evidence for valuation inclusion will emerge only after customer acquisition, supply volumes, and profitability are confirmed. Can actuators create a recurring-revenue structure like automotive parts, or will they remain a technology asset that attracts attention at exhibitions? The difference is quite significant.

Peanut believes robot news should distinguish between ‘making components’ and ‘making money.’ Expectations may move first in the short- to medium-term swing period, but the fundamental calculation must be checked again through orders and earnings figures after mass production begins.

📉 Korea-France Cooperation, Broad Direction but Unconfirmed Earnings Connection

Ryu Jae-cheol, president of LG Electronics, said the company intends to expand cooperation between Korea and France beyond heat pumps and high-efficiency home appliances to mobility as well ^[3]. Since appliance- and vehicle-related businesses were mentioned together, LG Electronics’ scope for business cooperation has been presented broadly.

However, the direction of cooperation must be distinguished from specific contracts, orders, and earnings contributions. Based on this material alone, the scale of cooperation and the timing of revenue recognition cannot be confirmed. Therefore, this news appears less like a catalyst that immediately changes the numbers and more like background material showing that LG Electronics is expanding its business touchpoints from home appliances toward HVAC and mobility.

🛑 Numbers to Watch Before the Growth Engines

The key point in this trend is not simply that there are more new businesses. The question is whether new businesses such as actuators can lead to actual orders and profits while withstanding the possibility of a second-half earnings burden in the TV business. On the TV side, there is a bearish scenario involving competition and the off-season; on the robotics side, there are execution variables involving mass production and customer acquisition.

The possibility of a value trap also emerges here. If the list of businesses becomes more impressive while profits from existing businesses weaken and new-business revenue remains small, expectations may grow while valuation verification is delayed. Conversely, if TV earnings stabilize and actuator orders become more concrete, the quality of the growth story could change.

Ultimately, the remaining questions are simple. Will LG Axium’s mass-production system within the year lead to actual customers and revenue, and how much earnings burden will the possibility of a second-half TV business deficit create? If these two numbers diverge, we will have to recalculate how far LG Electronics’ new-business premium can be recognized.

📰 Reference News (3)

1

LG TVs Turn on the ‘Loss Warning Light’… Park Hyoung-se, to Transform the Business by Expanding the Platform

네이버뉴스 · 2026.09.09

📰 View original

2

LG Electronics Accelerates Its Actuator Business, Backed by a CEO-Direct Robotics Organization - M Today

네이버뉴스 · 2026.09.09

📰 View original

3

Lee: ‘Korea and France Should Conduct R&D Together in New Industries’

네이버뉴스 · 2026.09.09

📰 View original