LG Electronics Reports Preliminary Q2 Operating Profit of 493.1 Billion KRW, Down 24.4% Year-on-Year

[Asia Economy Reporter Yoo Byung-don] LG Electronics announced on the 7th that its provisional consolidated sales and operating profit for the second quarter of 2020, based on Korean International Financial Reporting Standards, were 12.834 trillion KRW and 493.1 billion KRW, respectively.

Sales decreased by 12.9% compared to the previous quarter and by 17.9% compared to the same period last year. Operating profit fell by 54.8% compared to the previous quarter and by 24.4% compared to the same period last year.