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 10:18 2016 Wednesday ,23 March
cartoon seven
GMT 05:56 2017 Thursday ,16 November
Siemens layoff plan promises showdown
GMT 09:08 2015 Monday ,30 November
Shanghai volatile after slump
GMT 09:53 2016 Tuesday ,03 May
Chinese animation festival sees record transactions
GMT 04:38 2015 Saturday ,18 July
All Blacks still well off World Cup pace
GMT 13:21 2014 Sunday ,28 December
Abras prove a hit with Global Village visitors
GMT 23:54 2016 Wednesday ,23 November
Israeli forces arrest 16 Palestinians in different areas of West BankGMT 23:36 2012 Saturday ,26 May
N Korea\'s West coast affected by severe drought
GMT 06:40 2015 Sunday ,26 April
Heritage conservation school, University Paris 8 seal agreement
GMT 10:37 2013 Tuesday ,31 December
Pussy Riot member wants Putin out
GMT 10:54 2018 Thursday ,04 January
Djokovic to test elbow injury in Melbourne
GMT 14:09 2017 Wednesday ,20 September
Messi hits four as Barca maintain perfect start
GMT 06:30 2017 Tuesday ,28 November
Sudan and Russian sign nuclear agreement
GMT 21:40 2016 Monday ,02 May
Actor Wael Nour dies at age 55
GMT 06:39 2016 Sunday ,18 December
Icy weather hits north-eastern US as more heavy snow expected
GMT 08:42 2017 Sunday ,10 December
Galadari Trucks and Heavy Equipment,Komatsu joinGMT 07:46 2012 Friday ,24 February
Bobbi Kristina\'s problems \'out of control\'GMT 08:11 2011 Saturday ,01 October
Ancient copper sword discovered in E. ChinaGMT 17:42 2011 Tuesday ,12 July
Transplant patient\'s joy on seeing new legsGMT 12:47 2011 Sunday ,31 July
Strong earthquake jolts northeast Japan
GMT 09:56 2015 Monday ,06 July
It’s a historic performance
GMT 12:21 2016 Saturday ,27 February
New bank another BRICS
GMT 03:37 2015 Saturday ,11 July
Morale 'good' at Orica
GMT 19:23 2017 Tuesday ,23 May
7 killed, 35 hurt in horrific Dubai bus-truck collision
GMT 12:13 2016 Sunday ,24 January
6 militants killed, 10 injured in northern Afghan province
GMT 08:24 2015 Saturday ,17 October
Character will be needed to beat Scots
GMT 13:58 2014 Thursday ,03 April
FAB Design introduces SpidronGMT 12:57 2013 Thursday ,14 February
Concerns for Palestinian prisoners
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