Unlike fellow South Korean electronics manufacturer Samsung, the other consumer giant from Korea, LG, was not able to post impressive earnings during Q4 of the previous year. The second largest electronics corporation in Korea declared a disappointing net loss of $428.96 million. There was a silver lining and in spite of the net loss, LG was able to post an operating profit of $98.08 million during the last quarter as its profits stood at $12.37 billion. The results have shown some positive signs for the future of the company as smart televisions and smartphones from LG have seen decent demand. Half the income that LG was able to earn in the previous quarter was courtesy of its TV business that tallied 5.91 billion in proceeds. Whereas, the mobile phone division of LG reported a $2.58 billion profit and half of that money came from the sale of its smartphones such as Nexus 4 and Optimus G.
However, the overall result from LG could have been different if the Korean company had not allegedly fixed the prices of its cathode ray tube PC monitors and televisions. In addition to this LG also slipped-up when it came to fulfil the insane demand for Nexus 4 that people were looking to buy. Due to these reasons, LG was not able to get a better sales record. But now the company has got rid of all the hitches in the production of Nexus 4 and hopefully results of the current quarter will be healthier than the previous one.
Source: VentureBeat, Tom’sHardware
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