How to use Custom Labels in Lighting Component

This post explains how to use custom labels in Lightning Component.

Syntax

$Label.namespace.LabelName
if your org not having any names space use default namespace 'c'

Example:

Lightning Component

<aura:component implements="flexipage:availableForRecordHome,force:hasRecordId" access="global" >
    <aura:attribute name="strLabelvalue" type="String" />
    <!-- System handler -->
    <aura:handler name="init" value="{!this}" action="{!c.getLabelValue}" />
    
    <center>
        <div class="slds-theme_default">
            <!-- Custom Label value from component -->
            <h2  class="slds-text-heading_medium slds-m-bottom_medium">Custom Label value from Lightning Component</h2>
            <p><b>{!$Label.c.SalesforceCodeCrack}</b></p><br/><br/>
            
            <!--Custom Label value from Controller -->
            <h2  class="slds-text-heading_medium slds-m-bottom_medium">Custom Label value from Controller</h2>
            <p><b>{!v.strLabelvalue}</b></p>
        </div>
    </center>
</aura:component>

Controller

({
 getLabelValue : function(component, event, helper) {
  var labelValue = $A.get("$Label.c.SalesforceCodeCrack");
        component.set('v.strLabelvalue', labelValue);
 },
})

Result: