Monday, May 28, 2018
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Google Takes The Lead Over Amazon in Smart Speaker Market
FBI Says Reboot Your Router to Stop Malware Infecting 500k Devices
ASUS Chromebox 3 Series Coming in July
U.S. to Impose Fine, New Management to ZTE to Keep it in Business
Facebook Keeps Working on In-house Chip Designs
AMD Increased GPU Market Share in Q1
Seagate's New VR Power Drive Adds Capacity and Extends Battery Life of the HTC VIVE Focus VR Headset
Samsung Should Pay Apple $539 million in Patent Retrial
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 > LG Elec...
Last 7 Days News : SU MO TU WE TH FR SA All News

Wednesday, January 25, 2017
LG Electronics Posts Operating Loss For Q1


LG Electronics on Wednesday reported its first quarterly operating loss in six years as it failed to revive its money-losing smartphone business amid weaker sales of home appliances.



LG posted an operating loss of 35.2 billion won (US$30.1 million) for the October-December period last year, compared with a profit of 348.9 billion won for the same quarter in 2015.

Fourth-quarter sales rose 1.5 percent on year to 14.7 trillion won, LG said.

Net loss widened to 258.7 trillion won for the fourth-quarter of last year, from a loss of 140.4 billion won for the same quarter in 2015.

For all of 2016, LG posted an operating profit of 1.3 trillion won on sales of 55.3 trillion won.

With its new smartphones failing to appeal to consumers amid tougher competition with Chinese brands, LG's smartphone division has posted operating losses since the third quarter of 2015.

LG said the profitability of its smartphone business for the fourth quarter "was hampered by weak sales of the G5 smartphone and higher marketing investments."

During the fourth quarter, LG's smartphone business division reported an operating loss of 467 billion won on sales of 2.9 trillion won.

The smartphone business division's fourth-quarter sales slumped 21 percent on year.

Full-year operating loss at LG's smartphone division snowballed to 1.25 trillion won, compared to a loss of 119.6 billion won in 2015.

LG plans to unveil its new flagship smartphone, the G6, next month and the new model is "expected to help greatly improve" the company's market position this year, LG said in the statement.

LG's home appliances and home entertainment units both turned in strong performances.

Its vehicle components unit saw revenues jump by nearly two-thirds in the fourth quarter, but "R&D investments negatively affected profitability", LG said.



Previous
Next
U.S. Calls For Stronger Battery Safety Safeguards        All News        Japan Display Develops "FULL ACTIVE FLEX" Flexible Display For Smartphones
Google To Bring AI to Raspberry Pi     General Computing News      Europe Seeks Feedback on Commitments Offered by Amazon in e-book Investigation

Get RSS feed Easy Print E-Mail this Message

Related News
LG Q7 Smartphone Comes With New Cameras, AI, Hi-Fi Audio, IP68 Rating and Fingerprint Sensor
LG Display Denies Google Investment Report
LG Officially Unveils G7 ThinQ With AI Features
LG G7 Smartphone to Come with Powerful Boombox Speaker
LG Electronics Operating Profit up in Q1 on Sales of Home Appliances and TVs
LG Display Posts First-quarter Loss on Low LCD Prices
LG Touts Extreme Brightness of New G7 Smartphone
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

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 .