LG Electronics Posts Unexpected Loss on Phones, Televisions
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LG Electronics Inc., the world’s third-largest maker of mobile phones, posted an unexpected second straight quarterly loss after a slump in handset sales and lower earnings from home appliances.
The first-quarter net loss was 15.8 billion won ($15 million), compared with 674.6 billion won profit a year earlier, Seoul-based LG said in a statement today. Analysts predicted profit of 56.6 billion won, based on the average of 11 estimates compiled by Bloomberg in the past 28 days. Sales were little changed at 13.2 trillion won.