South Korea’s tech firm LG Electronics logged a double-digit fall in the first quarter owing to the global economic uncertainty, the company said Friday. Preliminary operating profit shrank 22.9 percent from a year earlier to 1.5 trillion won (1.1 billion U.S. dollars) in the January-March quarter.
Preliminary revenue slipped 2.6 percent to 20.42 trillion won (15.5 billion dollars) in the first quarter. The profit retreated in double digits on the lingering global economic uncertainty, but it topped market expectations of about 1.25 trillion won (948.3 million dollars).—APP
