LG Electronics forecast an 84% jump in full-year profit forecasts on Monday, but shares in the consumer electronics company fell more than 5% as fourth-quarter earnings fell short of market expectations.
The maker of smartphones, home entertainment and appliances, said in a preliminary results release that it expected operating profit in 2017 to rise to Won2.4tn ($2.2bn, £1.67bn) from Won1.3tn in 2016.
Q4 misses forecasts
In the fourth quarter, however, the company has come under some pressure as the boss at its underperforming mobile appliances division was replaced.
The company has experienced dwindling sales of its flagship mobile brands, including the "G" series smartphones, despite an estimated 10% rise in total sales to Won61tn last year.
The share price weakness on Monday was largely due to fourth-quarter profit forecasts falling short of expectations. LG said it expected earnings of Won366bn in the October-December period, short of the market consensus of Won471bn reported by the Yonhap news agency.
Shares in LG Electronics closed 5.4% lower at Won105,000 on the Seoul stock exchange.