SEOUL — South Korea’s tech behemoth LG Electronics posted a double-digit fall in second-quarter operating profit due to the negative effect of the US tariffs imposition and the delayed domestic demand recovery, the company said Monday.
Preliminary operating profit tumbled 46.6 percent from a year earlier to 639.1 billion won ($467.1 million) in the April-June quarter, missing marketing expectations of about 750 billion won ($548.1 million).
The double-digit reduction was attributed to the delayed consumer demand at home, the US protectionist moves, and the stiffer competition.
Preliminary revenue decreased 4.4 percent to 20.74 trillion won ($15.2 billion) in the second quarter.
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