Due to weak sales of smartphones, LG Electronics ended the quarter with a net loss of
LG Electronics has reported for the fourth quarter of 2016 financial year and the whole year.
Revenue for the quarter amounted to 12.79 billion dollars, having increased in annual terms by 1.5% QoQ, down 11.7%. The failure of the mobile division, the company completed the quarter with a net loss of $ 224 million dollars. This is despite the fact that the division of LG Home Appliance & Air Solutions Company LG Home Entertainment Company showed the best operating profit in the year.
For the whole year LG was rescued 47,92 billion dollars, which is insignificantly less compared to the previous year. But operating profit rose by 12.2%, reaching 1.16 billion us dollars. The net profit has decreased by half and amounted to 109,31 million dollars.
Division of LG Mobile Communications Company gain for the quarter of 2.51 billion dollars, which is 15% more than the previous quarter but 21% less than a year ago. Manufacturer of causes the growth in quarterly terms, a good sales model V20 and annual bad — weak demand on the G5. Just over a quarter were sold 14.1 million smartphones, which is 8% lower than a year earlier, but 4% more than in the previous quarter.