SEOUL, Feb. 4 (Korea Bizwire) — Samsung Electronics Co.’s smartphone sales in the United States rose in the fourth quarter of 2020 on the back of its budget flagship model, a report showed Thursday, despite overall market decline. Samsung and Apple Inc. were the only smartphone makers to post sales growth in the United States [...]
SEOUL, Feb. 3 (Korea Bizwire) — LG Uplus Corp., a major South Korean telecom operator, said Wednesday it shifted to a net loss in the fourth quarter last year due to increased marketing costs of new phones. Net loss stood at 224.7 billion won (US$201.7 million) in the October-December period last year, compared with a [...]
SEOUL, Feb. 3 (Korea Bizwire) — SK Telecom Co., South Korea’s largest mobile carrier, said Wednesday it shifted to a net profit in the final quarter last year on the back of growing users on the 5G network and increased equity gains. Net income stood at 371 billion won (US$333 million) in the October-December period, [...]
SEOUL, Feb. 3 (Korea Bizwire) — Hyundai Motor Co. and affiliate Kia Corp. said Wednesday their sales in the United States rose 7.9 percent in January from a year earlier on robust SUV sales. Hyundai Motor and Kia sold a combined 91,173 vehicles in the world’s most important automobile market last month, up from 84,498 [...]
SEOUL, Jan. 29 (Korea Bizwire) — SK hynix Inc., South Korea’s No. 2 chipmaker, said Friday it expected strong demand for memory chips this year on the back of growth in the server and mobile sectors after reporting robust fourth-quarter earnings amid the pandemic. Its net income reached 1.76 trillion won (US$1.6 billion) during the [...]
SEOUL, Jan. 29 (Korea Bizwire) – LG Electronics Inc. on Friday said it posted record earnings in the fourth quarter of 2020 on robust home appliance sales. The South Korean tech giant said it logged a net profit of 262.3 billion won (US$233 million) in the October-December period, swinging from a net loss of 849.8 [...]
SEOUL, Jan. 29 (Korea Bizwire) – SK Innovation Co. said Friday it turned to the red in 2020 on heavy losses from its refinery business hit by the COVID-19 pandemic but plans to expand investment to increase production of electric vehicle batteries. South Korea’s top refiner said it posted 2.2 trillion won (US$2 billion) in [...]
SEOUL, Jan. 28 (Korea Bizwire) – POSCO, South Korea’s top steelmaker, said Thursday its operating profit slipped 37.9 percent last year as the coronavirus pandemic ravaged global demand for steel. POSCO reported an operating profit of 2.4 trillion won (US$2.15 billion) and a net profit of 1.7 trillion won for 2020. Net profit fell 9.8 [...]
SEOUL, Jan. 28 (Korea Bizwire) — Samsung Electronics Co. on Thursday said it expects downbeat first-quarter results on the weak U.S. dollar and uncertainties over the novel coronavirus pandemic after announcing a solid fourth-quarter performance, although demand for chips and smartphones will remain strong. The company presented a conservative view on a so-called “super cycle” [...]
SEOUL, Jan. 27 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical firm, said Wednesday it posted a record revenue in 2020 on strong battery sales, vowing to expand its battery unit’s production capacity to meet growing demand for electric vehicle (EV) batteries. Its annual sales rose 9.9 percent to 30.6 trillion won (US$278.6 [...]