SEOUL, Jan. 27 (Korea Bizwire) — LG Electronics Inc. on Thursday said its operating profit fell 21 percent in the fourth quarter from a year earlier due to a hike in logistics and raw material costs and weaker-than-expected holiday spending on home appliances. Operating profit slumped to 677.7 billion won (US$563 million) in the October-December [...]
SEOUL, Jan. 27 (Korea Bizwire) — South Korean battery maker Samsung SDI Co. said Thursday its net profit rose 14.6 percent in the fourth quarter from a year earlier, backed by solid growth in EV battery sales. Net income came to 391.6 billion won (US$325.6 million) in the October-December period, compared with a profit of [...]
SEOUL, Jan. 27 (Korea Bizwire) — Samsung Electronics Co. on Thursday reported strong fourth-quarter earnings on robust chip business and brisk sales of consumer electronics. Net profit rose 64.04 percent from a year earlier to 10.8 trillion won (US$9 billion) in the October-December period, the world’s largest memory chip and smartphone vendor said in a [...]
SEOUL, Jan. 27 (Korea Bizwire) — South Korea’s top internet portal operator, Naver Corp., said Thursday its net profit jumped nearly 20 times in 2021 from the previous year on the back of the non-contact trend amid the COVID-19 pandemic. Naver’s net profit reached 16.41 trillion won (US$13.7 billion) last year, compared with a net [...]
SEOUL, Jan. 26 (Korea Bizwire) — LG Display Co., a South Korean major display panel maker, said Wednesday that its fourth quarter net income dropped 70.8 percent from a year earlier on declining LCD TV panel prices and one-off cost factors. Net profit for the three months ended in December came to 179.5 billion won [...]
SEOUL, Jan. 26 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker, said Wednesday its fourth-quarter net profit rose 30 percent from a year earlier on a weak won and increased SUV sales. Net profit for the three months ended in December jumped to 1.248 trillion won (US$1.04 billion) from 961.6 billion won during the [...]
SEOUL, Jan. 25 (Korea Bizwire) — SsangYong Motor Co., the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., said Tuesday it inked narrowed losses last year but remains in a complete capital erosion. Net losses narrowed to 292.9 billion won (US$244 million) in 2021 from 504.34 billion won a year earlier on companywide [...]
SEOUL, Jan. 25 (Korea Bizwire) — South Korea’s Hyundai Motor Co. said Tuesday its fourth-quarter net profit plunged 41 percent from a year earlier as extended chip shortages affected vehicle production and sales. Net profit for the three months ended in December came to 701.4 billion won (US$585 million) from 1.183 trillion won a year [...]
SEOUL, Jan. 17 (Korea Bizwire) — KT Corp., South Korea’s major telecom operator, said Monday it has partnered with major South Korean lender Shinhan Bank to collaborate in new businesses, including artificial intelligence and platform services. KT said it will also acquire a 2.1 percent stake in Shinhan Bank for 437.5 billion won (US$366.9 million) [...]
SEOUL, Jan. 13 (Korea Bizwire) – Apple Korea’s sales jumped 24 percent on-year to hit 7.1 trillion won (US$5.97 billion) last year, data showed Thursday. The South Korean unit of U.S. tech giant Apple Inc. — Apple Korea Ltd.– logged 7.1 trillion won (US$5.97 billion) in sales from Oct. 1, 2020 to Sept. 30 last [...]