LG Elec sees lower Q3 profit, plans to boost phone marketing
SEOUL, July 25 |
SEOUL, July 25 (Reuters) - LG Electronics Inc plans to aggressively boost marketing spend to turn around its loss-making handset business, as it expects lower third-quarter profit due to weaker demand for air conditioners and home appliances, its chief financial officer said.
"We believe our smartphone business is on a recovery track...and sales to major U.S. and European carriers are steadily rising. We plan to aggressively boost marketing to increase sales and expect better profitability and sales going forward," LG CFO Jung Do-hyun told analysts. (Reporting by Miyoung Kim; Editing by Muralikumar Anantharaman)
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