Breaking News

Transcend's New ESD420 Portable SSD Offers MagSafe Compatibility and Pro-Level Performance G.SKILL Trident Z5 DDR5 Memory and WigiDash Receives European Hardware Awards 2025 Silicon Power Launches WP10 Magnetic Wireless Power Bank Razer Unveils the Ultra-Lightweight DeathAdder V4 Pro Sony launches a high-resolution shotgun microphone with superior sound quality and compact design.

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map

Search form

LG Electronics Posts Operating Loss For Q1

LG Electronics Posts Operating Loss For Q1

Enterprise & IT Jan 25,2017 0

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.

Tags: LG Electronics
Previous Post
U.S. Calls For Stronger Battery Safety Safeguards
Next Post
Japan Display Develops "FULL ACTIVE FLEX" Flexible Display For Smartphones

Related Posts

  • LG releases QNED MINI LED TVs, setting a new standard for LCD picture quality

  • LG Electronics announces 31.5-inch 4K organic EL display 32EP950-B

  • LG rolls out 2021 TV lineup with OLED TVs and Mini-LED TVs

  • LG Electronics' 'Wing' Smartphone Said to Have a Swivelling Display

  • LG Velvet Smartphone Officially Launched in South Korea

  • LG Launches 2020 Sound Bars

  • LG Reports Record Operating Income Margin, Revenue Decline

  • LG Velvet Specifications Unveiled

Latest News

Transcend's New ESD420 Portable SSD Offers MagSafe Compatibility and Pro-Level Performance
PC components

Transcend's New ESD420 Portable SSD Offers MagSafe Compatibility and Pro-Level Performance

G.SKILL Trident Z5 DDR5 Memory and WigiDash Receives European Hardware Awards 2025
Enterprise & IT

G.SKILL Trident Z5 DDR5 Memory and WigiDash Receives European Hardware Awards 2025

Silicon Power Launches WP10 Magnetic Wireless Power Bank
Consumer Electronics

Silicon Power Launches WP10 Magnetic Wireless Power Bank

Razer Unveils the Ultra-Lightweight DeathAdder V4 Pro
PC components

Razer Unveils the Ultra-Lightweight DeathAdder V4 Pro

Sony launches a high-resolution shotgun microphone with superior sound quality and compact design.
Cameras

Sony launches a high-resolution shotgun microphone with superior sound quality and compact design.

Popular Reviews

be quiet! Light Loop 360mm

be quiet! Light Loop 360mm

be quiet! Dark Mount Keyboard

be quiet! Dark Mount Keyboard

be quiet! Light Mount Keyboard

be quiet! Light Mount Keyboard

Noctua NH-D15 G2

Noctua NH-D15 G2

Soundpeats Pop Clip

Soundpeats Pop Clip

be quiet! Light Base 600 LX

be quiet! Light Base 600 LX

Crucial T705 2TB NVME White

Crucial T705 2TB NVME White

be quiet! Pure Base 501

be quiet! Pure Base 501

Main menu

  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map
  • About
  • Privacy
  • Contact Us
  • Promotional Opportunities @ CdrInfo.com
  • Advertise on out site
  • Submit your News to our site
  • RSS Feed