Pricing pressure for flat-panel TVs was among the factors given as LG Electronics reported a net loss for the fourth quarter, ended 31 December.
On a parent-company basis, LG reported sales of USD $4.84 billion for the quarter, an operating loss of USD $228 million and a net loss of USD $493 million.
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LG Electronics and Netflix are to launch the first Blu-ray Disc player that will have the ability to instantly stream movies and TV episodes from Netflix directly to the TV.
The LG BD300 Network Blu-ray Disc Player, which is to be launched in the autumn, will play high definition Blu-ray discs and up-convert standard DVDs to 1080p.
South Korean regulations requiring handset applications to be based on a homegrown technology are largely why the country’s mobile phone market is dominated by Samsung Electronics and LG Electronics.
As a result of the WIPI ruling – the acronym stands for wireless internet platform for interoperability – foreign companies have found it too expensive to produce handsets tailored for South Korean consumers.
Nokia is virtually absent in the country and Motorola is a minor competitor with less than 5 per cent of the market. Apple has kept its iPhone out of the market because of the WIPI rule.
Yet international handset makers are keen to enter South Korea, one of the world’s most technologically advanced and expensive telecoms markets.
Now President Lee Myung-bak’s newly elected government has expressed a willingness to soften the WIPI rule, potentially opening the door to foreign handset makers.
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