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Day July 28, 2010

LG joins Nokia in missing estimates due to competitive pressures

Losses from mobile phones totaled 120 billion won ($101 million) in the second quarter, compared with profit of 620 billion won a year earlier, Seoul-based LG said in a statement today. The loss, the division’s first in four years, was triple the size projected by the average estimate of five analysts surveyed by Bloomberg.

via LG Posts Record Handset Loss on IPhone, Smartphones – BusinessWeek.