A PYMNTS Company

South Korea: LG Electronics blames 4Q 2012 loss on EU price-fixing fine

By  |  January 30, 2013

While it was reported yesterday that Philips posted a fourth quarter profit gain despite price fixing charges, not everyone is coming out from the fines unscathed. LG Electronics has reported fourth quarter losses due to the fine imposed on the company by the European Commission for $664 million. According to its Q4 2012 financial report, the company posted net losses accounted for 468 billion won ($429 million). LG is the globe’s second-largest television set producer by revenue. This is LG’s first quarter loss in more than a year.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    Subscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

     

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Full Content: ZDNet

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.