LG Electronics’ earnings backpedal in Q3

LG Electronics on Monday announced its third-quarter earnings guidance, which backpedaled from a year earlier, as the company faced mounting tariff pressure from the United States and intensifying competition in low-end home appliances. According to the electronics giant, its consolidated sales for the third quarter stood at 21.88 trillion won ($15.8 billion). It grew 5.5 percent from the previous quarter but slid 1.4 percent from a year earlier. During the same period, operating profit reached 688.9 billion won, up 7.7 percent from a quarter earlier but down 8.4 percent year-on-year. The second quarter is typically considered a seasonal off-peak period for the home appliance industry. The company attributed the earnings slowdown to one-off causes including the growing tariff burden stemming from rapid changes in the global trade environment. It also noted that a voluntary redundancy program across its TV division has also affected its overall profitability. Despite these pressures, LG Electronics said its third-quarter earnings came in about 10 percent above market consensus. The companWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times