South Korea's LG Electronics, the world's No.2 TV maker, reported its lowest quarterly profit for 2013 on Thursday as its mobile business slipped into the red due to the cost of marketing its latest smartphone.
LG tried to strike a blow against mobile industry leaders Samsung Electronics and Apple in August with the lavish launch in New York of its G2 handset, and plans to follow up with a curved phone in the coming weeks.
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But earnings may remain under pressure for the remainder of the year thanks to slow TV shipments, even though the G2 phone will contribute more to the company's bottom line in the October-to-December period after a full quarter of sales.
Third-quarter operating profit rose 27 percent to 218 billion won ($206 million), below a consensus forecast of 306 billion won by Thomson Reuters I/B/E/S. The July-to-September earnings compared with 171 billion won a year ago and 479 billion won in the second quarter.