* Q3 profit likely 283 bln won vs 274 bln won analyst
* Firm had previously tipped on-year rise in Q3 profit
* Mobile losses, weaker appliances sales likely weighed
(Adds background on LG business)
By Se Young Lee
SEOUL, Oct 7 South Korea's LG Electronics Inc
said on Friday it expects third-quarter operating
profit slipped 3.7 percent from a year earlier, as the consumer
appliance and smartphone maker was likely hit by continued
losses at its mobile division.
LG, the world's second-largest TV maker behind domestic
rival Samsung Electronics Co Ltd, said in a brief
regulatory filing it expects July-September operating profit to
be 283 billion won ($254.53 million). That's below the year
earlier's 294 billion won, but above a Thomson Reuters StarMine
SmartEstimate of 274 billion won from a poll of 10 analysts.
The firm didn't offer details on its results and won't
release full earnings until the end of October. It had
previously guided for its third-quarter operating profit to be
higher than a year earlier.
Revenue for the period fell 5.8 percent to 13.2 trillion
won, compared with a Thomson Reuters StarMine SmartEstimate of
13.6 trillion won.
Analysts said ahead of Friday's filing that LG's mobile
division likely reported further losses during the quarter in
the absence of new products to revive sales. Meanwhile its
household appliances business could have been capped by weaker
seasonal demand for air conditioners, they said.
While the global recall of Samsung's Galaxy Note 7
smartphones may be an opportunity for rival manufacturers,
analysts remain sceptical on whether LG can take advantage.
HMC Investment analyst Greg Roh said in a report issued
before LG's Friday filing that he expects the company to ship
700,000 of its new V20 smartphones, which launched in South
Korea on Sept. 29 for 899,800 won ($810), during the fourth
quarter. But Roh said the device was unlikely to halt the streak
of losses for the business.
LG shares fell 0.4 percent on Friday, compared with a 0.6
percent fall for the broader market.
($1 = 1,116.2000 won)
(Reporting by Se Young Lee; Editing by Muralikumar Anantharaman
and Kenneth Maxwell)