Monday, April 23, 2018
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Samsung Launches Six Original Series on Samsung VR Video Service on Gear VR
Facebook Says Users Are Not Products, the Social Network Is
European Regulators Investigate Apple's Proposed Acquisition of Shazam
Amazon is Working on Home Robots: report
7nm Volume Production to Fuel TSMC's Profits This Year
Toshiba Weighs Memory Chip Unit Options
Google Chat Launches to compete with Apple's iMessage
ASUS ZenFone Max Pro M1 Brings Great Value Priced at Just $165
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > General Computing > Poor Sm...
Last 7 Days News : SU MO TU WE TH FR SA All News

Friday, January 06, 2017
Poor Smartphone Sales Fuel LG Electronic's Operating Loss


LG Electronics slipped to red in its bottom line for the final quarter of 2016 due to sprawling cost of money-losing smartphone business.



The company on Friday reported an operating loss of 35.3 billion won ($29.8 million) for the fourth quarter ended December. Sales for the October-December reached 14.78 trillion won, up 11.8 percent from the previous quarter.

The consumer electronics giant was able to earn around 500 billion won in the first two quarters in 2016 but it struggled from the latter half with profit halving to 280 billion won in the July-September quarter and then dipping into the negative territory in the subsequent quarter.

The losses are entirely blamed on its struggling smartphone business that has been making deficit from the second quarter of 2015. The mobile division posted an operating loss of 436.4 billion won despite its sales of 2.5 trillion won sales in the July-September quarter following the launch of G5 premium flagship. Its losses are estimated at mid 400 billion won level in the fourth quarter as its ambitious V20 phone also failed to impress consumers despite the failure of Samsung's Galaxy Note7.

LG's home appliance division and TV businesses that made up for the losses from the mobile division in the first half gave ground. Marketing cost rose ahead of the Black Friday shopping season in the U.S. and sales also were stalled in the typically slow year-end season.

For full 2016, LG's operating profit reached 1.34 trillion won, up 12.2 percent from 2015, and sales down 2 percent on year at 55.37 trillion won.



Previous
Next
FTC Sues D-Link Over Security Issues In Routers, Cameras        All News        Samsung Q4 Profit Beats Estimates Despite Galaxy Note 7 Fiasco
FTC Sues D-Link Over Security Issues In Routers, Cameras     General Computing News      Samsung Q4 Profit Beats Estimates Despite Galaxy Note 7 Fiasco

Get RSS feed Easy Print E-Mail this Message

Related News
LG Display's OLED Smartphone Screens Still Not Ready For Apple
LG SmartThinQ Home Appliances Get Amazon Alexa Connectivity
LG Invests Resources Toward Extending Smartphone Lifespan
LG G7 ThinQ Smartphone Coming in the 2nd of May
LG Makes WebOS Open Source
LG Display Brings Crystal Sound OLED tech to Lighting
LG Electronics Showcases its Latest Premium OLED TVs
MWC: LG's Mobile Strategy to Focus on Audio, Batteries, Cameras and Displays, New G7 Smartphone Could Be Released Later This Year
LG V30S ThinQ Smartphone With Integrated AI Debuts at MWC 2018
LG To Unveil Updated K8 AND K10 Smartphones at MWC
LG to Add AI technologies to 2018 Version of the LG V30
LG gram 15Z980 Notebooks Launch in the U.S.

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2018 - All rights reserved -
Privacy policy - Contact Us .