LG Electronics Posts Wider Loss on EU Fines, TV Slump
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LG Electronics Inc., the world’s second-largest TV maker, unexpectedly reported a wider fourth-quarter loss on European Union price-fixing fines, slumping demand and a stronger won.
The net loss was 468 billion-won ($432 million), compared with a 112 billion won loss a year earlier, Seoul-based LG said in a statement today. The company was expected to make a profit of 88.8 billion won, based on the average of 21 analyst estimates compiled by Bloomberg. Sales were 13.5 trillion won.