LG Electronics Q2 earnings down 24%

SEOUL: South Korea’s biggest home appliances maker, LG Electronics Inc, reported a 24% drop in second-quarter profit yesterday, hit by a sluggish domestic economy and the SARS outbreak in China. 

But analysts said earnings from the flagship company of South Korea’s second biggest business conglomerate, LG Group, were likely to have bottomed out. They expect a recovery on strong sales of flat screen TV sets and a turnaround in mobile phone sales.