LG operating profit expected to decline by massive 80 percent
January 9, 2019 | Investopaper
South Korean company LG on Tuesday said that its fourth-quarter operating profit is likely to decline by a massive 80 percent compared to the same period last year.
After Samsung revealed around 30% decline in quarterly profit earlier, LG, the second largest TV company in the world also suggested similar fate. The profit is expected to be around $67.03 million for the last quarter of the previous year.
Similarly, the revenue is likely to fall by 7 percent to 15.8 trillion won. The full result is yet to come at the end of January.
The higher bonuses in the year-end and the marketing expenses on new smartphones have caused the company earnings to go down, according to analysts who have predicted 387 billion won operating profit for the last three months.
LG held a 3 percent share of the global smartphone market in the second quarter of last year.
