LG Posts Wider-Than-Estimated Loss on Phones, Flat-Panel Unit
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LG Electronics Inc., the world’s third-largest maker of mobile phones, reported a wider-than-estimated quarterly loss as mobile-phone sales missed forecasts and earnings dropped at its flat-panel unit.
LG had a net loss of 414 billion won ($367 million) in the three months ended September, it said in a statement today, wider than the 56.1 billion won loss average of eight analysts’ estimates compiled by Bloomberg in the past four weeks. The Seoul-based phone maker had a profit of 7.6 billion won in the third quarter last year.