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LG Electronics posts 2016 operating profit of $1.2 billion

FILE PHOTO - A man looks at LG Electronics' TV sets, which are made with LG Display flat screens, at its store in Seoul, South Korea, April 26, 2016. REUTERS/Kim Hong-Ji/File Photo

SEOUL (Reuters) - South Korea's LG Electronics Inc reported on Tuesday a 2016 operating profit of 1.34 trillion won ($1.15 billion), up 12 percent from the previous year.

In the fourth quarter, the company swung to an operating loss of 35 billion won, according to Reuters calculations, in line with its guidance earlier this month.

(Reporting by Hyunjoo Jin; Writing by Joyce Lee; Editing by Himani Sarkar)