(MENAFN) LG Electronics Inc. said its net loss widened by more than threefold in the October-December period as it halted production of plasma display panel (PDP) TVs on weak demand, Yonhap News reported.
South Korea's leading home appliance and smartphone maker's net loss stood at USD189.9 million in the fourth-quarter period compared to a loss of USD5.85 million recorded a year earlier.
However, operating profit increased 28.4 percent in the cited period, hitting USD253.4 million, while sales surged 4.9 percent to reach USD1.41 billion in the reported period.
It marked a significant turnaround for the tech firm, which logged USD398.78 million in net loss for 2011 before swinging to a net gain the following year, the company said in a statement.
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