LG Electronics shifts to loss in Q4

LG Electronics Inc. on Friday reported its fourth-quarter net loss of 212.4 billion won (US$172.5 million), turning from a profit of 21.3 billion won a year earlier.

The company said in a regulatory filing that operating income for the October-December period fell 90.7 percent on-year to 69.3 billion won. Sales increased 5.2 percent to 21.85 trillion won.

The operating profit was 74.8 percent lower than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.

Source: Yonhap News Agency

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