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LG Electronics' net loss narrows in Q4

All News 15:28 January 26, 2016

By Kang Yoon-seung

SEOUL, Jan. 26 (Yonhap) -- South Korean tech giant LG Electronics Inc. said Tuesday its net loss narrowed in the fourth quarter from a year earlier.

Net loss came to 140.4 billion won (US$117 million) in the October-December period, compared with a deficit of 205.6 billion won during the same period in 2014, LG Electronics said in a regulatory filing.

Sales shed 4.7 percent on-year to 14.5 trillion won, and operating profit advanced 26.8 percent to 348.9 billion won.

For all of 2015, LG Electronics' net income reached 249.1 billion won, down 50.3 percent from the previous year. Sales edged down 4.3 percent to 56.5 trillion won, while its operating profit plunged 34.8 percent to 1.19 trillion won.

Shares of LG Electronics closed at 54,800 won, down 3.52 percent from the previous session, when the benchmark KOSPI lost 1.15 percent. The fourth-quarter result was released after the market closed.


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