LG Telecom Posts Lowest Profit in a Year on Spending for Handset Subsidies

(Bloomberg) -- LG Telecom Ltd., South Korea's third-
largest mobile-phone operator, reported its lowest profit in a
year after the company spent more on handset subsidies to win
customers from larger rivals SK Telecom Co. and KT Freetel Co.

Second-quarter net income was 54 billion won ($59 million),
from a record loss of 195.4 billion won a year earlier, Seoul-
based LG Telecom said in a statement today. Sales rose 18 percent
to 1.16 trillion won.


Read more at Bloomberg Emerging Markets News