South Korea’s LG Electronics said on Thursday says it has a loss in the fourth quarter of 2008, hit by big shortfalls at its flat-screen panel unit and tougher competition.<\/p>\n
Its net loss for the October-December period stood at 671 billion won ($489 million) compared to a 621 billion won net profit a year earlier.<\/p>\n
Sales increased 12.2% to 6.59 trillion won, but the operating balance recorded a 309 billion won loss from a 154 billion won profit a year earlier.<\/p>\n
"Because of the global economic slump, demand is likely to contract as competition within the industry will intensify," the company said in a statement.<\/p>\n
"We face a less favourable business environment than last year. <\/p>\n
"We will increase investment in key sectors, especially in research and development, design and brand image."<\/p>\n
LG is South Korea’s second largest electronics company after Samsung Electronics, making flat-screen TVs, mobile phones and appliances.<\/p>\n","protected":false},"excerpt":{"rendered":"
South Korean LG Electronics sales increased by 12.2% to 6.59 trillion won, but the operating balance recorded a 309 billion won loss.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[17],"tags":[],"class_list":["post-6668","post","type-post","status-publish","format-standard","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/6668"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=6668"}],"version-history":[{"count":0,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/6668\/revisions"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=6668"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=6668"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=6668"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}