January 27, 2014 / 4:55 AM / 4 years ago

LG Electronics Q4 profit doubles on strong TV sales

2 Min Read

SEOUL, Jan 27 (Reuters) - LG Electronics Inc beat analyst estimates by doubling its fourth-quarter profit, as heavy promotional activity in the U.S.'s Black Friday shopping season lifted TV sales, offsetting a small loss at its mobile arm.

Operating profit totalled 238 billion won ($220 million) in October-December, the world's second-biggest TV maker after Samsung Electronics Co Ltd said in a statement on Monday.

That compared with the 223 billion won estimate of 35 analysts polled by Thomson Reuters I/B/E/S, as well as the 117 billion won of a year earlier and 218 billion won of July-September.

The South Korean manufacturer said operating profit at its TV business reached 174 billion won from just 80 million won a year prior.

Its mobile business, ranked No.3 by shipments after Samsung and Apple Inc, swung to an operating loss of 43 billion won from profit of 56 billion won a year earlier, as the company spent more on marketing flagship products such as its G2 and G Pro smartphones. ($1 = 1080.3500 Korean won) (Reporting by Miyoung Kim; Editing by Christopher Cushing)

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