LG Electronics on Wednesday said it estimated lower-than-expected earnings for the fourth quarter of last year due to expanded losses in its smartphone division.

In an earnings guidance, the South Korean electronics maker said it expects 98-point-six billion won in operating income for the October to December period, a 30-point-three percent on-year increase but far below the industry forecast of 250 billion won.

The company's sales are expected to have been some 16-point-one trillion won during the same period, up one-point-eight percent on-year.

Overall sales for 2019 are estimated to have increased one-point-six percent on-year to 62-point-three trillion won, breaking the 61-point-four trillion won mark from 2017.

LG Electronics' operating profit dropped ten percent on-year to two-point-43 trillion won.

Analysts estimate its mobile division recorded an operating loss of nearly 300 billion won in the fourth quarter.