LG Electronics Result 26/01/2016

By Dhruv Dayal Gupta
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LG Electronics reported Q4 net loss of 140.4 billion won ($116.4 million), down by 32% YoY from 205.7 billion won. Turnover for the period was reported at 14.56 trillion won ($ 12.57 billion), a 4.7% declline YoY. Net profit for the full year 2015 was reported at 249.1 billion won ($215 million), a 50% YoY decline. Full year turnover was reported at 56.51 trillion won ($ 48.8 billion), compared with 59.04 trillion won ($ 50.98 billion), a YoY decline of 4.3%. A stronger US dollar more than offset the benefit of lower panel prices.

The Home Entertainment Company was profitable, with Q4 2015 operating income of KRW 109.2 billion ($94.3 million). Q4 revenues were 4.74 trillion were ($4.09 billion), up 11% quarter-on-quarter as a result of improved OLED and UHD TV sales, although revenues declined year-on-year due to a weaker global TV market and unfavorable foreign exchange movements. Mobile Communications sales were up 12% on a quarterly basis to 3.78 trillion won ($3.26 billion). 15.3 million smartphones were shipped in Q4, bringing annual sales to 59.1 million.