(MENAFN) South Korean LG Electronics said that profit in the July-September period dropped 34 percent versus the same period last year, Times of Oman reported.
The company announced a net profit of USD103 million in the period, falling from USD154.2 million in the prior-year period.
Sales of LG increased to USD12.98 billion, registering a 4.6 percent increase from last year's period, while operating profit increased 27 percent to USD203.7 million.
LG Electronics said that the profit loss was due to the rising market costs and increasing competition.
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