South Korea's LG Electronics on Wednesday reported its second successive year of slumping net profits due partly to weak smartphone sales. Full-year net profit for 2016 was 126.3 billion won ($109.3 million), the Seoul-based firm said, down by almost half on 2015 - when they had fallen by 50 percent.
The company produces a range of products, from mobile phones to televisions and home appliances including air conditioners, washers and refrigerators. It said in a statement it fell into losses in the fourth quarter, taking hits in its mobile telecommunications and vehicle components businesses.