The second largest manufacturer of television turnover its Q4 2012 financial report today, detailing its first quarter loss than a year. Net losses amounted ₩ 468 billion ($ 429 million) in the fourth quarter of 2012, compared with a loss of 112 billion won in 2011.
Consolidated revenues currently amount to 13.50 billion won ($ 12.4 billion).
LG has also posted an operating profit of 107 billion won (98.84 million) in the quarter, which is up 25 percent a year, based on smartphone sales record 8 , $ 6 million compared to the third quarter, sales of 7 million euros. Overall handset sales - including mobile smartphones and feature films - rose 7 percent to 15.4 million mobile business firm units.The electronic achieved a total turnover of 2.81 billion won (2, $ 58 billion), up 15 per cent compared to the same quarter. LG also said that its customer base for 4G devices "premium" - as G - Optimus increased in the fourth quarter, and the company intends to capitalize on the market 4G expansion in Europe and emerging markets this year . However, profit margins in the TV industry continue to fall. LG reported another quarter of losses in its TV sector, 5.7 percent in the second quarter, 0.8 percent in the third quarter and 0.3 percent in the fourth quarter. The company says that it is not only strong competition from local rivals who almost freeze the TV industry, but the weakness of the yen also contributed, despite "aggressive marketing efforts." LG plans to try to revive its decomposition activity by tapping into the TV market and offer high quality and Ultra HD OLED TVs in 2013, and sales of 3D TVs and Smart.
In December, LG was fined € 492 million ($ 664 million) by the European Commission within the framework of one of the largest antitrust fine in history. Philips, LG Electronics, Panasonic, Toshiba, Samsung SDI and Technicolor were all fined individually for an aggregate sentence of more than 1 billion euros, after the EU decided that all companies had been involved in a system rig prices tubes used in computer monitors and television screens. Panasonic plans to appeal the decision.
