Coway Co., Ltd. announced its first quarter of 2021 financial reports, including $7.8 million in revenue, a 14.3% increase year-over-year. Operating profit and net profit increased to $151 million and $111 million respectively. Domestic rental sales in Korea reached 321,000, with 6.36 million accounts.
“Exciting new products and impactful marketing campaigns propelled our performance, both domestically and internationally,” said Kim Soon-tae, Chief Financial Officer of Coway. “To drive long-term growth, we’ll continue to focus on our competitiveness in the domestic market while expanding further into overseas markets.”
Malaysia and the U.S. were standout overseas subsidiaries for the company, with Malaysia reporting $213 million and the U.S. $3.8 million in revenue. Total overseas accounts now total 2.1 million.
Total rental accounts reached 8.46 million, driven by overseas success.