LG Electronics Posts 1st Quarterly Operating Loss in 6 Years
LG Electronics Posts 1st Quarterly Operating Loss in 6 Years
Seoul - QNA
LG Electronics Inc. on Wednesday reported its first quarterly operating loss in six years as it failed to revive its money-losing smartphone business amid weaker sales of home appliances.
LG posted an operating loss of 35.2 billion won (US$30.1 million) for the October-December period last year, compared with a profit of 348.9 billion won for the same quarter in 2015, the company said in a regulatory filing, reported by Yonhap news agency.
The result was in line with LG's prior earnings guidance that had predicted an operating loss of 35 billion won.
Fourth-quarter sales rose 1.5% on year to 14.7 trillion won, LG said.
Net loss widened to 258.7 trillion won for the fourth-quarter of last year, from a loss of 140.4 billion won for the same quarter in 2015.
For all of 2016, LG posted an operating profit of 1.3 trillion won on sales of 55.3 trillion won, according to the filing.
With its new smartphones failing to appeal to consumers amid tougher competition with Chinese brands, LG's smartphone division has posted operating losses since the third quarter of 2015.
With Job Cuts, China Deal
France's Carrefour revamps operations
Paris - Emiratesvoice
France's Carrefour group said Tuesday it is overhauling its business in a transformation plan involving thousands of job cuts, a product revamp and new partnerships in China. Carrefour, which was the world'sTo partake in Beiteddine Festivals
Singer Bruni arrives in Beirut Sunday evening
Beirut - NNA
French renowned singer and supermodel, Carla Bruni, is expected to arrive this evening at Rafic Hariri International Airport in Beirut, accompanied by her husband, former French President Nicolas Sarkozy. BruniIn France
Microsoft to open 4 data centres
Paris - Emiratesvoice
Microsoft is to open 4 data storage centers in France to meet strong customer demand for cloud computing, the head of the software giant's French operations told the Agence France-Presse onIn Olympic Spotlight
'Friendly and kind' N. Korean skaters
Taipei - Emiratesvoice
North Korea's figure skaters Ryom Tai-Ok and Kim Ju-Sik are "friendly and kind and a little bit shy", South Korea's Kim Kyueun said Tuesday ahead of their hugely anticipated Olympic appearance. The skater is competing with her partner Alex Kam in theFor $11.6 Bn
Sanofi buys US haemophilia treatment
Paris - Emiratesvoice
French pharmaceutical firm Sanofi said Monday it had reached an agreement to purchase US biotech company Bioverativ, which specialises in treatments for haemophilia and rare blood disorders, for $11.6 billion. Sanofi's chief executive Olivier Brandicourt said the acquisition "enhances its presence in specialtyParis show pays homage
to 'eternal style' of late Alaia
Paris - Emiratesvoice
Two months after legendary designer Azzedine Alaia's sudden death plunged the fashion world into mourning, an exhibition in homage to the "King of Cling" opens Monday in his studios in Paris. The Tunisian-born designer, renowned for the way his clothes hugged the body, died suddenly in November aged 82, reportedly of heart failure after falling down the stairs at his home. The diminutive maverick, who ignored fashion week convention by showing when and where he wanted, in July produced his first couture collection in six years to rapturous reviews. Now some of his most iconic dresses are going on display in the glass-roofed gallery next to his studio and home in the Marais district where he used to show his creations. It includes the dress worn by supermodel Naomi Campbell, his longtime friend and muse, when she led
GMT 10:31 2014 Tuesday ,23 December
Mirages of failure: Lebanon cannot wait
GMT 10:08 2018 Wednesday ,24 January
Microsoft to open 4 data centres
GMT 05:09 2024 Tuesday ,06 February
The Saudi-led Arab Coalition Forces have targeted a meeting of Houthi commanders in Beit Al Faqih, Hodeidah, killing scores of the
GMT 05:04 2024 Tuesday ,06 February
Skincare PR Performance Full Year 2017
GMT 12:07 2018 Tuesday ,23 January
Syria Kurds urge civilians to take up arms against Turk assault
GMT 05:38 2017 Friday ,22 December
Two die in Iran quake panic
GMT 01:23 2016 Wednesday ,18 May
Stuttgart sack sporting director Dutt, Luhukay appointed as new coach
GMT 23:39 2017 Friday ,23 June
Unknown people threw Molotov
GMT 13:42 2017 Friday ,10 March
OPCW condemns chemical weapons use in fatal incident in Malaysia
GMT 19:42 2016 Monday ,08 August
Sherine: Nancy not 1st choice for The Voice Kids Arabia
GMT 08:02 2016 Friday ,22 April
Spain marks death of intriguing 'Quixote' author Cervantes
GMT 09:18 2017 Tuesday ,18 July
Total train tech: Hyperloop One closer to near-supersonic rail
GMT 02:07 2016 Friday ,17 June
Jani and Porsche stay on pole in Le Mans rain
GMT 06:15 2018 Monday ,08 January
France marks three years since Charlie Hebdo attack
GMT 12:56 2017 Friday ,22 December
Lakers overcome Harden’s 51 to end Rockets’ streakis
GMT 23:25 2017 Sunday ,05 March
Chinese warns world entering period of political upheaval
GMT 07:19 2017 Thursday ,21 December
Erdogan rebukes UAE minister over tweet
GMT 20:38 2017 Saturday ,09 September
Netanyahu's wife faces possible graft trial
GMT 08:43 2017 Sunday ,03 December
Nissan GT-R/C races at Silverstone
GMT 05:19 2017 Monday ,30 January
Jeddah’s Al-Jawhara to host Mohammed Abdu on Monday
GMT 09:07 2017 Monday ,28 August
Sheikha Fatima bint Mubarak has established values
GMT 05:05 2017 Thursday ,09 March
Benkirane Praises Strong Ties Between Qatar and Morocco
GMT 11:45 2017 Monday ,15 May
Chairman of Safety Committee visits Abu Dhabi Farmers'
GMT 05:26 2013 Tuesday ,05 February
The people and their leaders
GMT 11:28 2017 Tuesday ,11 July
Zulekha Hospital pledges AED2 million
GMT 08:12 2017 Saturday ,30 September
Yemen’s Central Bank says outward transfers will be activated soon
GMT 11:18 2017 Monday ,06 March
Saudi female horse trainer rides roughshod over kingdom’s sport restrictions on women
GMT 05:16 2017 Friday ,19 May
Trump Called Netanyahu, but White House and Israel remain silent
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor