LG Electronics Inc said on Tuesday its fourth-quarter operating profit likely plummeted 80 percent from the same period a year earlier.

The company estimated profit of 75.3 billion won ($67.03 million) for October-December last year.

Revenue likely fell 7 percent to 15.8 trillion won, LG said in a regulatory filing.

LG will announce full results at the end of January.

Analysts said likely causes included profit margins for its high-end TVs being thinned by increasing competition, while the firm’s smartphone business continues to lose money.