LG Electronics reported an unexpected loss in the final quarter of 2015 as its smartphone business struggled, according to the Associated Press.

South Korea's second-largest consumer electronics company said Tuesday, Jan 26, it had a net loss of 140.4 billion won ($116.4 million) for the October-December period, compared with a net loss of 205.7 billion won a year earlier.

A survey of analysts by financial data provider FactSet forecast a net profit of 134 billion won.

Quarterly sales fell 5 percent to 14.6 trillion won. Operating income jumped 27 percent to 349 billion won.