LG Electronics has reported a net loss of KRW 468 billion for the fourth quarter, say news reports. Revenues declined by 2.2 percent from a year earlier to KRW 13.50 trillion, as growth in mobile phones was offset by weaker sales of consumer electronics and appliances. Operating profit improved to KRW 107 billion from KRW 86 billion, owing to cost reductions.
LG’s mobile division improved its sales by 1.3 per cent year-on-year and 14.9 per cent from the previous quarter to KRW 2.81 billion. The company shipped 15.4 million phones in the three months prior to December 2012, a 7 per cent increase from the third quarter, and smartphone sales increased by 23 per cent on a sequential basis to 8.6 million units.
The company stated that the sales of its premium LTE smartphones, such as the Optimus G and the Vu 2 device, increased in the quarter, as did the L-series and Google Nexus 4.
The company?s mobile division posted an operating profit of KRW 56 billion for the quarter, compared to a loss of KRW 3 billion a year earlier.
