Coway Co., Ltd. released its financial results for the second quarter of 2023, posting $766.5 million in revenue, a 2.9% boost year over year. Second quarter operating profit was up 10.3% from the same period in 2022.
Domestic health appliance sales revenue increased 2.9% from the second quarter of last year to $288.6 million, which the company primarily attributed to successful product sales across categories, including water purifiers, air purifiers, and mattresses.
“We’ve successfully sustained steady growth through global market expansion, innovative product offerings, and strategic marketing efforts, despite difficult market circumstances,” said Soon Tae Kim, Coway Chief Financial Officer. “Our strategies for the rest of the year will focus on further strengthening both local performance in Korea and international business activities while fostering the growth of our sleep and wellness brand BEREX.”