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Biz News Korea(Eng)
LG Elec’s Q2 OP misses market estimate on tepid G6 performance
- Collected
- 2017.07.08
- Distributed
- 2017.07.10
- Source
- Go Direct
The tech giant’s earnings guidance for the quarter ended in June came in slightly below market expectations. According to the market data provider FnGuide, the market consensus for the firm’s operating profit in the second quarter was 770.9 billion won on sales of 15 trillion won.
LG Electronics’ shares finished Friday down 4.15 percent at 73,900 won.
Its second-quarter operating profit gained 13.6 percent on year but fell 27.9 percent on quarter. Sales were up 3.9 percent on year but down 0.7 percent on quarter.
Experts estimate the sales of LG’s new G6 flagship smartphone to have fallen short of the target of 2 million units. The increased marketing costs following the new release may also have undermined overall profitability, according to sources.
The industry believes the vehicle components unit is still in the red. Income in the TV segment would have deteriorated due to higher panel prices. Home appliances would have sold well due to early heat arrival.
By Lee Dong-in
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]