LG Electronics (SEO: 066570) posted a 671.3 billion won ($489.7 million) net loss in the fourth quarter — its first loss in seven quarters — and much worse than the 172.3 billion won ($125 million) loss a Reuters analyst poll had forecast. The South Korean consumer electronics giant was hit especially hard by losses in its flat-screen TV unit.
There was both good and bad news in its mobile communications unit. Handset sales rose to 4.09 trillion won ($3.0 billion), up 40.4 percent year on year and 16.5 percent sequentially. Despite the recession, handset shipments were up 8 percent year on year to 25.7 million, which means LG shipped a total of 100.7 million units in 2008, making it the number-three handset maker for the year. The bad news is that the cellphone unit
Tough times, but I think they'll make it through.