LG Electronics Inc. said Thursday its third-quarter operating profit fell 3.7 percent from a year earlier, hit by sluggish sales in its money-losing smartphone business.
LG said in a regulatory filing that the operating profit for the July-September quarter stood at 283.2 billion won (250.9 million US dollars), compared with a profit of 293.9 billion won for the same quarter last year.
Compared to the previous quarter, LG's operating profit sank 51.6 percent. Revenue for the third quarter fell 5.7 percent on year to 13.2 trillion won, according to the filing.
LG's mobile division posted an operating loss of 463.4 billion won for the third quarter, marking its sixth consecutive quarterly loss for its smartphone business.
In a statement, LG attributed "lower sales of premium devices and expenses related to business structure improvement activities" to the third-quarter loss in its smartphone business.