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LG Electronics Misses Forecasts as TV Profits Tumble

January 30, 2013

LG Electronics Inc fell short of consensus forecasts in quarterly earnings on Wednesday, with profits in its TV division tumbling to around one tenth of year-earlier levels as the world's No.2 TV maker bumped up promotional spending in the year-end holiday season.

LG is set to face a challenging year with forecasts from research firm DisplaySearch calling for flat global TV sales on economic uncertainty and as many households in developed economies already own a flat-screen TV

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