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LG Electronics quarterly profit tumbles as handset unit slips

LG Electronics, the world’s number two TV maker, reported a worse than expected 90 percent fall in second-quarter profit, hit by poor TV and mobile-handset sales.

The South Korean firm reported KRW126 billion (USD106.6 million) in April-June operating profit, versus KRW1.24 trillion a year ago and a consensus forecast of KRW210 billion by 12 analysts polled by Thomson Reuters.

(Source: CNBC)