SEOUL, July 30 (Xinhua) -- LG Electronics, South Korea's tech behemoth, posted a double-digit fall in its second-quarter operating profit owing to an economic fallout from the COVID-19 outbreak, the company said Thursday.
Consolidated operating profit was 495.4 billion won (414.8 million U.S. dollars) in the April-June quarter, down 24.1 percent from a year earlier.
Revenue declined 17.9 percent over the year to 12.83 trillion won (10.7 billion U.S. dollars) in the second quarter.
The company said its earnings were affected significantly by the worldwide impact of the COVID-19 pandemic.
The home appliance and air solution business, which makes appliances and air conditioners, logged revenue of 5.16 trillion won (4.2 billion U.S. dollars) in the second quarter.
It was down 15.5 percent from a year earlier due to the effect of softer global demand during the pandemic.
The business's operating profit shrank 12.5 percent over the year to 628 billion won (514.2 million U.S. dollars) in the second quarter.
The home entertainment unit, which manufactures TVs, reported 2.26 trillion won (1.9 billion U.S. dollars) of revenue in the quarter, down 24.4 percent from a year earlier owing to a negative impact by lockdowns such as the closures of retail stores.
The unit's operating profit diminished 25.9 percent to 112.8 billion won (92.4 million U.S. dollars) in the quarter.
The mobile communications division, which produces mobile phones, posted an operating loss of 206.5 billion won (169.1 million U.S. dollars) on revenue of 1.31 trillion won (1.1 billion U.S. dollars) in the June quarter.
The vehicle component solutions unit, which makes car parts, reported an operating loss of 202.5 billion won (165.8 million U.S. dollars) on revenue of 912.2 billion won (747 million U.S. dollars).
The second-quarter revenue tumbled 40 percent compared with the same quarter of last year as a result of COVID-19 pandemic-related manufacturing shutdowns of global automakers.
The business solutions division recorded an operating profit of 98.3 billion won (80.5 million U.S. dollars) on revenue of 1.31 trillion won (1.1 billion U.S. dollars) in the second quarter. Enditem
