LG reports profits down 94 percent

LG, one of the biggest makes of TVs, stereo and electronics have announced their Q4 quarterly earnings, and they’re looking rather bleak. Profits were down 94 percent compared to the previous quarter, while sales were up almost 10 percent.

Sales of LG Home Entertainment were up as well, but because of stiff pricing competition in the segment over the holiday season, LG Home Entertainment still saw a net loss.