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LG fails to turn a profit for the first time in two years

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+warwagon    12,824

LG fails to turn a profit for the first time in two years

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Both of South Korea's electronics giants have announced fourth-quarter results that were less than ideal. Within hours of Samsung posting a double-digit reduction in quarterly profit, LG has revealed that it lost 80.7 billion Korean won ($72.5 million) in the last three months.

 

If there is cause for optimism, it's that LG's business was healthy over the year, making a full-year profit of 2.7 trillion KRW ($2.4 billion) on revenues of 61.3 trillion KRW ($55 billion). In this quarter, however, the company saw the usual losses in its mobile division, and a surprising dip in its TV arm.

 

LG's home appliance business was, once again, the champ, narrowly beating its figures from the same three months last year. But sales and operating margin have dipped over the year from a high in the second quarter, which may be a concern longer term. The company attributes the blame for a "currency risk" in Latin America and "geopolitical risk" in the Middle East and Africa.

 

Home Entertainment, which covers LG's TV and audio products, was down both year on year and each quarter. The numbers are nothing to sniff at, but the fact that operating margins have been squeezed may not bode well in the future. LG says that the drops are down to a bigger marketing spend thanks to tougher competition, as well as an economic slowdown outside North America and Europe.

 

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https://www.engadget.com/2019/01/31/lg-q4-and-fy-2018/

 

Can't say I feel sorry for them. THIS is what they get when they were the last Manufacture to remove the removable battery. They were the goto company if you wanted a great phone with a removable battery. Once they removed that they were just another OEM, Just an OEM which sucks ass at updates. Really no reason to buy from them. 

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