LG reports record quarterly loss

LG Electronics signalled a bottom for its money-losing mobile phones and TV businesses, after the world’s number two television brand reported a record quarterly loss. Founding family scion Koo Bon-joon, who took over as the chief executive in October, is betting on turning around the South Korean company’s fortunes with its premium Optimus smartphone models. Shares in LG have jumped by a third from their November lows versus a 10 per cent gain in the Korean stock price index.