Friday, February 24, 2017
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Google's Waymo Sues Uber Over Self-Driving Patents
New Razer Power Bank Will Charge Your Laptop, Smartphones
New HARMAN Infotainment System Integrates Apple CarPlay Through Wireless Connectivity
TSMC Outlines Its 5nm Road Map
Qualcomm To Offer Developers VR Headset Powered By The With Snapdragon 835
New UHS-III SD Cards Will Offer Up To 624 MBps Transfer Rates
Google AI Tools Lets You Identify Malicious Comments on Your Website's Articles
Samsung Mass Produces 10nm Exynos 9 Application Processor
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's Super UHD TV with Nano Cell Technology Complements OLED TVs in The Company's Premium TV Lineup
LG G6 Praised for its Minimalism, Solidity, Ergonomics
New LG X400 Smartphone Launches In Korea
LG Display Confirms LCD Supply Deal With Rival Samsung
LG's G6 Smartphone To Feature A Wide-angle Dual Camera
LG Teases With G6's UX, Full Vision Display
LG Adds New Quad DAC To Upcoming G6 Smartphone
LG Display Is Setting Up First Production Lines for 10th Generation OLEDs
LG Said To Launch Two New Android Wear Smartwatches
LG X400 Smartphone Coming in February
LG Electronics Posts Operating Loss For Q1
LG Display Reports Stellar Q4 Earnings And Profit

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2017 - All rights reserved -
Privacy policy - Contact Us .