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Wednesday, January 30, 2013

LG Electronics reports a quarterly loss

Quarterly figures from LG Electronics showed a net loss of 468 billion South Korean won (£272 million) for Q4 2012, although this included the results of an EU fine. Overall, LG made KRW 91 billion (£53 million) profit for the year. Sales for the quarter were down 2.2% year-on-year to KRW 13.50 trillion.

At LG’s Mobile Communications business unit, sales revenue was up slightly from Q4 2011 to KRW 2.8 billion.  A total of 15.4 million handsets were shipped, of which 8.6 million were smartphones.

The company says it aims to launch mass market 4G LTE smartphones in 2013.

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Author: The Fonecast
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