LG Electronics reports loss in 4Q on plasma TV business closure, operating income up

SEOUL, South Korea – LG Electronics Inc. lost money in the fourth quarter due to the closure of its plasma TV operations but its operating income rose thanks to a mobile business recovery.

The Korean company Thursday reported a net loss of 205.7 billion won ($189 million) for the October-December quarter. Operating income rose 28 percent to 275 billion won ($253 million) on revenue of 15.3 trillion won ($14 billion).

LG said its home appliance business contributed most to its quarterly income, followed by its mobile phone business. LG's quarterly smartphone sales increased 18 percent from a year earlier to 15.6 million phones, it said.

LG stopped making plasma TVs in November to focus on more popular OLEC and LCD TVs.