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(LEAD) LG Electronics' Q4 operating loss estimated at 35.3 bln won

All News 15:28 January 06, 2017

(ATTN: UPDATES with details)

SEOUL, Jan. 6 (Yonhap) -- LG Electronics Inc. said Friday that it is likely to post an operating loss in the fourth quarter of last year, indicating that its money-losing smartphone business appears to have failed to rebound.

In a regulatory filing, LG said its operating loss for the fourth quarter of last year is estimated at 35.3 billion won (US$29.6 million), compared with a profit of 348.9 billion won for the same quarter in 2015.

Fourth-quarter sales are estimated at 14.7 trillion won, up 1.5 percent on year, LG said.

For all of 2016, LG said it expects to post an operating profit of 1.33 trillion won, up 12.2 percent on year, on sales of 55.3 trillion won, down 2 percent on year.

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