By Kwanwoo Jun
LG Electronics Inc. expects its fourth-quarter operating profit to fall 21% from a year ago, with analysts saying demand for televisions and other home appliances likely remained softer-than-expected.
The South Korean consumer-electronics giant said Friday that it estimates operating profit at 681.60 billion won ($565.6 million) for the quarter ended December. That compares with KRW862.70 billion a year earlier.
LG's forecast is below a FactSet-compiled market consensus estimate for KRW850.41 billion.
The company expects revenue to rise 21% to KRW21.009 trillion for the quarter.
For the full year, LG expects revenue to climb 29% to a record KRW74.722 trillion, with operating profit slipping 1.0% to KRW3.868 trillion.
Analysts say demand for electronics goods at home could have weakened as vaccinated workers began returning to offices. Operating costs, meanwhile, could rise amid global supply-chain disruptions.
LG is due to release its full quarterly earnings later this month.
Write to Kwanwoo Jun at email@example.com
(END) Dow Jones Newswires