LG Electronics has reported an 8.4% fall in quarterly profit to US$482 million, as its once-dominant TV division continues to lose ground to rivals Samsung and Hisense.

The decline underscores the growing pressure on the South Korean company’s consumer electronics business, particularly in the highly competitive OLED and large-format LED TV segments.

Company-wide revenue also fell, with LG’s Australian operations under added scrutiny amid Federal Court allegations of workplace bullying against local Managing Director Dan Lim.

In recent years, LG has stopped disclosing detailed financial breakdowns by division, but the company has acknowledged that it is generating significant income from the collection and sale of consumer data captured through smart features embedded in its TVs and home appliances.

Meanwhile, sister company LG Energy Solution is attempting to resume work at a new U.S. battery plant after an ICE raid detained illegal migrant workers at the site.

While the company’s automotive electronics division helped offset the downturn in its core businesses, LG’s Vehicle Solution (VS) unit delivered record profitability thanks to robust demand for premium in-vehicle infotainment systems and other high-value components.

However, the performance of LG’s Home Appliance & Air Solution (HS) division remains weak, hampered by U.S. tariffs and sluggish global demand. The company is now optimizing production to reduce tariff impacts and is increasingly turning to direct-to-consumer sales and subscription-based rental services to recover margins.

LG’s Media & Entertainment (MS) division—which handles TV operations—posted a wider operating loss, citing intense competition from Samsung and fast-growing Chinese brands. Despite supplying OLED panels to Samsung, LG continues to lose TV market share to its rival.

To improve profitability, LG plans to enhance its webOS smart TV platform, aiming to better monetize user data through targeted advertising and analytics sold to third parties.

The earnings projection came as LG Electronics recently raised $1.3 billion by selling a 15% stake in its Indian unit, LG Electronics India, in an initial public offering.

The company said it expects the proceeds to provide significant funding to accelerate business structure improvements and future growth initiatives. The Indian unit will begin trading this week.

LG Electronics said it would continue its push to grow new businesses, including its heating, ventilation and air-conditioning services as well as non-hardware platforms such as appliance subscriptions and online services.