LG Earnings Hit Hard by Its Poor Smartphone Sales

SEOUL, July 29 (Korea Bizwire) – LG Electronics Inc., South Korea’s No. 2 tech giant, said Wednesday its second-quarter net profit tumbled 45 percent on-year due to lackluster sales of its flagship G4 smartphone and unfavorable currency rates. Net profit came to 226.4 billion won (US$195.7 million) in the April-June period, compared with 411.8 billion [...]