[EQUITIES] LG Electronics’ Q3 earnings to miss estimates: analyst

[THE INVESTOR] Shinhan Finance Investment on Sept. 7 said that LG Electronics’ third-quarters earnings would miss estimates as the company continues to lose money on sluggish smartphone sales.

The securities firm predicted the company’s operating profit during the July-September period to plunge 45 percent to 321 billion won (US$290 million) from the previous quarter. The average market estimate was 382 billion won.

For the fourth quarter, the company’s operating profit was estimated to be slightly up at 362 billion won.

By Lee Ji-yoon (jylee@heraldcorp.com)