[Edaily Reporter Yun Junghoon ]LG HelloVision(037560)’s operating profit plummeted to 200 million won in the third quarter of this year due to changes in the media landscape and a slowdown in the broadcasting industry. The company is accelerating efforts to aggressively restructure its business portfolio and improve its company-wide cost structure, including implementing a voluntary retirement program.

LG HelloVision announced on the 4th that, based on its consolidated financial statements, it recorded operating revenue of 226.2 billion won and an operating profit of 200 million won for the third quarter of 2026.

Operating revenue fell by 24.2% (72.3 billion won) year-over-year and 7.0% (17.1 billion won) quarter-over-quarter, driven by structural changes in the broadcasting market—such as the proliferation of online video services (OTT) and a decline in VOD sales—as well as the impact of business portfolio restructuring.

Operating profit fell sharply to just 200 million won, reflecting the industry downturn and one-time costs associated with the business restructuring. LG HelloVision is currently implementing intensive management efficiency measures to improve its business structure, including a recent company-wide voluntary retirement program.

Looking at revenue by business segment, the core Home business recorded 208.9 billion won (broadcasting: 120.4 billion won, internet: 33.1 billion won, MVNO: 35.3 billion won, rental: 20.1 billion won). Regional-based businesses, including media and B2B, totaled 16.9 billion won, while other businesses totaled 400 million won.

In the broadcasting and mobile virtual network operator (MVNO) segments, broadcasting revenue and MVNO revenue decreased by 1.9% and 8.9%, respectively, compared to the same period last year.

Despite making every effort to retain subscribers amid a slump in the pay-TV market, the broadcasting segment could not avoid the market slowdown, and the MVNO segment also continued to experience market stagnation.

In the rental and regional-based businesses, the rental division saw a year-over-year decline in performance due to intensifying competition in the home appliance market and the restructuring of low-profit partnership channels. The regional-based business also reflected the impact of decreased revenue from regional cultural projects and electric vehicle charging operations.

LG HelloVision plans to restructure low-profit businesses and restore competitiveness in its core cable TV and internet operations, while gradually improving profitability through company-wide cost structure stabilization.

Kim Young-jun, Senior Vice President (CFO/CRO) of LG HelloVision, stated, “Amid rapid changes in the business environment, we are implementing rigorous structural reforms to strengthen our fundamentals,” adding, “We will focus on stabilizing our cost structure and improve profitability by restoring our core competitiveness and achieving qualitative growth.”