LG Electronics logged an operating profit of over three trillion won last year for the first time ever on the back of demand for its home appliances and TVs, as more people globally spent time at home amid the pandemic.

Operating profit hit three-point-two trillion won for the year, while sales surpassed 63 trillion won. Both are record figures.

According to the company, sales rose one and a half percent, while operating profit rose 31-point-one percent on-year in 2020. It was the fourth straight year annual sales topped 60 million won.

Last year's performance was in big part thanks to surging demand for LG's home appliances and premium televisions. 

However the company's sluggish smartphone business, for which several options are being considered including a selloff, remained in the doldrums in the fourth quarter, its operating profit deficit expanding from the previous quarter.