South Korea`s LG Electronics books Quarterly result profit held back by mobiles

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LG Electronics Inc on Thursday said continued losses in its mobile unit limited growth in second-quarter profit to 13.6 percent, as the firm prepares to release a handset in the third quarter that it hopes will turn the tide.

The South Korean firm said operating profit reached 664 billion won ($597 million) in April-June, in line with its estimate earlier in July. Revenue rose 3.9 percent to 14.6 trillion won, also in line with its estimate.

"We will strengthen our market dominance through expanding our premium home appliance lineup in the third quarter," it said in an earnings statement.

LG's share price fell 2.1 percent on Thursday, compared with a 0.4 percent rise in the Kospi benchmark index.

LG's earnings will likely fall in the second half of 2017 compared with the first as its appliances business enters a traditional offseason.

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