Better TV, phone sales help LG Electronics narrow Q4 loss
SEOUL (AFP) - South Korea's LG Electronics said Monday its fourth-quarter net loss narrowed significantly from a year earlier thanks to improved sales of premium smartphones and TVs.
But the country's second largest smartphone vendor said its mobile communications business would face high marketing costs and tough price competition.
LG posted a net loss of 63 billion won (S$74 million) in the October-December period, compared with a loss of 478 billion won a year earlier.
Sales rose 0.8 per cent year-on-year to 14.92 trillion won. Operating profit, meanwhile, doubled to 238 billion won, helped by increased margins from its TV unit.