LG Electronics Q2 operating earnings down 15.4%

Seoul, LG Electronics Inc. said on Friday that its second-quarter (Q2) operating profits are expected to have dropped 15.4 per cent from a year earlier, mainly due to its sluggish smartphone business.

In an earnings guidance, the South Korean electronics maker said it expects to post 652.2 billion won ($557 million) in operating profits in the April-June period — far below the average market expectation of around 774 billion won.