BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - LG Electronics reported that second-quarter net income declined to 609.7 billion Korean won from 629.5 billion Korean won, prior year. Operating income declined to 639.4 billion Korean won from 1.20 trillion Korean won. Second quarter sales were 20.73 trillion Korean won compared to 21.69 trillion Korean won, last year.
The company said its revenue and operating profit declined year-over-year, primarily due to continued global market softness, increased tariff burdens driven by changes in U.S. trade policy, and intensified competition. LG noted that the Home Appliance Solution, Vehicle Solution and Eco Solution Companies delivered strong performance, each posting year-over-year increases in both revenue and operating profit.
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