Plasma TV closure hits LG figures

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Published: Thursday 29th January 2015 by The News Editor

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LG Electronics has lost money in the fourth quarter due to the closure of its plasma TV operations, but its operating income rose thanks to a mobile business recovery.

The South Korean company reported a net loss of 205.7 billion won (£124 million) for the October-December quarter.

Operating income rose 28% to 275 billion won (£166 million) on revenue of 15.3 trillion won (£9.2 billion).

LG said its home appliance business contributed most to its quarterly income, followed by its mobile phone business.

LG’s quarterly smartphone sales increased 18% from a year earlier to 15.6 million phones, it said.

LG stopped making plasma TVs in November to focus on more popular OLEC and LCD TVs.

Published: Thursday 29th January 2015 by The News Editor

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