South Korea's LG Electronics has reported that its fourth quarter revenues to KRW 13.81 trillion (US$12 billion), while the net loss reduced to KRW 112 billion (US$97.7 million) in the quarter compared to a loss of KRW 256.4 billion a year ago.

The company said that its ongoing loss was primarily due to a loss on investments in affiliated companies and net financial expense.

The LG Mobile Communications division improved its position in the fourth quarter with operating profits of KRW 12 billion (US$10 million) and sales of KRW 2.78 trillion (US$2.42 billion) on the strength of premium smartphones.

For full-year 2011, the mobile division posted sales of KRW 11.69 trillion (US$10.55 billion), a decline of 9.9 percent from 2010.