LG reports second straight loss in Q4

LG Electronics on Wednesday posted its second consecutive quarterly loss despite record flat-panel TV shipments and solid performance from its mobile handset division. The South Korea-based electronics vendor recorded revenue of KRW 13.81 trillion, or approximately $12.05 billion USD, in the fourth quarter of 2011 along with an operating profit of KRW 23 billion, or about $20 million USD. Including one-time charges however, LG posted a net loss of KRW 112 billion, or approximately $97.7 million USD. The firm’s mobile arm posted a profit of KRW 12 billion ($10 million USD) on revenue totaling KRW 2.78 trillion ($2.42 billion USD) and its home entertainment division shipped 8.8 million HDTVs i... »read more

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