LG Electronics' mobile business dived into the red for the first time in 18 months during the third quarter, pulling down overall net profit despite a surge in home appliance sales, the company said Thursday.
The South Korean electronics maker said its handset unit, which includes smartphones, posted an operating loss of 77.6 billion won ($67.8 million) in the July-September period.
A company statement attributed the loss -- the first since the first quarter of 2014 -- to increased global competition and foreign exchange losses in key markets.
The firm has struggled for years with slow sales after making a late entry into the smartphone market following competitors such as Samsung and Apple.
Its global market share took a further beating as Chinese rivals like Huawei expanded their presence in the low- and mid-end mobile segments in emerging markets.