LG Electronics posts 12% drop in profit on weaker demand

Seoul: LG Electronics on Friday said its second -quarter operating profit decreased 12 per cent (on-year) amid rampant inflation that hurt consumer demand for TVs and other home appliances.

Its operating income came in at 792 billion won $609 million for the April-June quarter, falling short of analysts’ expectations surveyed by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Revenue increased 15 per cent from the year-ago quarter to 19.5 trillion won.