LG net loss narrows on back of mobile sales

LG Electronics Inc. (LG) today announced fourth quarter 2011 consolidated revenues of 13.81 trillion won (12.05 US billion) with an operating profit of 23 billion won (20 US million). The net loss for the company was 111.6 billion won ($99 US million) in this quarter compared to a loss of 256.4 billion won in the same period in 2010. The LG Mobile Communications Company improved its position in the fourth quarter with operating profits of 12 billion won (10.6 US million) and sales of 2.78 won trillion (2.42 US billion). For full-year 2011, the company posted sales of 11.69 won trillion (10.55 US billion), a decline of 9.9 percent from 2010.