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LG Electronics quarterly profits down 24%

SEOUL, South Korea-LG Electronics’ second-quarter profits slumped by 24 percent, while its handset shipments also dropped.

The company said it sold 5.3 million mobile phones, down from the 5.6 million it sold in the previous quarter. However, LG said it expects sequential unit growth of more than 25 percent due to strong sales in the United States and improvements in Korea and China.

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