LG Electronics logs 87 pct drop in Q2 net profit

SEOUL, July 27 (Yonhap) -- LG Electronics Inc., the world's third-largest mobile phone makers, said Wednesday that its second-quarter earnings plunged 87 percent from one year ago as its mobile business stayed in the red for a fifth quarter and TV sales struggled.
Net income reached 108.4 billion won (US$103.4 million) in the April-June period, compared with 856.4 billion won one year earlier, it said in a regulatory filing.
The bottom line was lower than market consensus of 150.7 billion won, according to analysts polled by Yonhap Infomax, the financial news arm of Yonhap News Agency.
Although lower than one year ago, the company posted first net profit in three quarters.
Sales inched down 0.2 percent to 14.4 trillion won from the year-ago quarter while operating profit rose 25 percent to 158.2 billion won, it said.
ylee@yna.co.kr