LG Electronics (KRX:066570) said it will exit the electric vehicle charger business to focus on other segments, according to a Wednesday release.
The South Korean electronics products maker will now redirect its focus to its high-performing heating, ventilation, and air conditioning (HVAC) operations under its Eco Solutions (ES) division, Pulse News said in a same-day report.
The company's ES division, which manages air conditioners, heat pumps, and data center cooling, posted record first-quarter sales of 3.05 trillion won and operating profit of 406.7 billion won, according to a separate release on Thursday.
LG Electronics aims to boost new home product sales in the second quarter, along with winning commercial AC orders in emerging markets, and securing large-scale deals for AI data centers and industrial use with ultra-large chillers, the release said.
Shares of LG Electronics fell more than 1% at market close on Thursday, April 24.
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