LG Electronics turns operating profit in Q4


Samsung also said its fourth-quarter revenue was likely 66 trillion won, which was slightly off a Reuters average forecast of 66.8 trillion won. This comes after the consumer electronics company recorded an operating loss of 35.2 billion won over the same period a year earlier, LG Electronics said in a regulatory filing.

The South Korean tech giant projected the operating profit for the three months to December to come in at 15.1 trillion won (US$14.1 billion), Reuters reports.

Sales were anticipated to have surged 23.8 percent to reach 66 trillion won over the cited period, it said.

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Based on the guidance, Samsung's 2017 operating profit is likely 53.6 trillion won, compared to the previous year's 29.2 trillion won, putting the South Korean tech giant on course for a record annual profit as strong DRAM memory chip prices continued to fatten margins.

Analysts estimated the operating profit of Samsung's semiconductor business to have surpassed 10 trillion won for the first time in the fourth-quarter.

The company is set to release its final earnings report later this month. (LG) on January 8 announced its preliminary earnings results for the fourth quarter of 2017. The firm did not elaborate on the details for its business divisions.

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Analysts expect Samsung's display profits to grow this year thanks to sales of organic light-emitting diode (OLED) screens for Apple iPhones as well as Samsung's own handsets.

Shares of LG Electronics closed at 105,000 won on the main bourse Monday, down 5.41 percent from the previous session.

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