28.10.2010 18:35 Uhr, Quelle: MacNN

LG profit collapses based on shrinking phone sales

LG saw its profit fall apart today as its summer results were hurt by its weakness in phones. Its profit plunged 99 percent, down from $805.6 million a year ago to $6.7 million. The Korean company was dragged down by its mobile group, which had a record loss of $270 million. The company's total phone shipments also dropped, going down 10 percent from year to year at 28.4 million.

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