LG Electronics posts 4Q loss as mobile business struggles
SEOUL, SOUTH KOREA: LG Electronics reported an unexpected loss in the final quarter of 2015 as its smartphone business struggled.
South Korea's second-largest consumer electronics company said Tuesday it had a net loss of 140.4 billion won ($116.4 million) for the October-December period, compared with a net loss of 205.7 billion won a year earlier.
A survey of analysts by financial data provider FactSet forecast a net profit of 134 billion won.
Quarterly sales fell 5 percent to 14.6 trillion won. Operating income jumped 27 percent to 349 billion won.
Net profit for the full year halved to 249.1 billion won.
LG's air conditioner and home appliance businesses accounted for the biggest chunk of profit and its TV business contributed about a third. LG's mobile business posted a second straight quarterly loss.