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LG sees record high revenue but earnings dip 10%By Shin Ji-hye
Published : Jan. 8, 2020 - 15:58
The operating profit will be around 2.4 trillion won for the whole of last year, a year-over-year decline of 10 percent, in the firm’s regulatory filings.
In the fourth quarter, the firm predicted to post 16 trillion won and 98.6 billion won in sales and operating profit, respectively, up 1.8 percent and 30.3 percent on-year.
LG Electronics did not disclose earnings by division. However, the firm’s home appliance and television businesses are expected to have performed poorly due to variables such as the off-peak season and increased marketing costs. Its smartphone business is estimated to have suffered losses for 19 consecutive quarters.
By Shin Ji-hye (firstname.lastname@example.org)
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