LG Electronics posts 4Q loss amid phone weakness
SEOUL, South Korea (AP) — LG Electronics has reported its first quarterly loss in nearly two years amid continued weakness in its mobile phone business.
LG Electronics said Wednesday that it lost 256.4 billion won ($229.4 million) in the three months that ended Dec. 31. That compared with a net profit of 361.9 billion won a year earlier.
Sales in the fourth quarter rose 1.8 percent to 14.7 trillion won.
The company’s last net loss was in the first quarter of 2009.
LG Electronics Inc. is the world’s second-biggest manufacturer of flat screen televisions behind South Korean rival Samsung Electronics Co. LG ranks No. 3 in mobile phones behind Finland’s Nokia Corp. and Samsung.
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