LG Electronics estimates 35.3 billion won operating loss

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LG Electronics estimates 35.3 billion won operating loss

LG Electronics said Friday that it is likely to post an operating loss in the fourth quarter of last year, indicating that its money-losing smartphone business appears to have failed to rebound.

LG said its operating loss for the fourth quarter of last year is estimated at 35.3 billion won ($29.6 million), compared with a profit of 348.9 billion won for the same quarter in 2015.

Fourth-quarter sales are estimated at 14.7 trillion won, up 1.5 percent on year, LG said. YONHAP
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