LG eyes smart cars as smartphones turn ‘softer’ – CNBC

Posted: Tuesday, January 26, 2016

South Korea’s LG Electronics is looking towards developing new areas of business – such as automobiles – as it reported full-year revenues down on “sluggish” TV demand and “softer” smartphone sales.

Operating profit in the October to December period in 2015 came in at 349 billion won ($301.38 million), up 27 percent from the same quarter in 2014.

But full-year operating income was 1.19 trillion won ($1.03 billion) in 2015, an almost 35 percent decrease from 2014, while revenues for the year were 56.51 trillion won, dropping 4 percent from the year before.

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