LG Electronics’ net profit slumped more than 80% in the third quarter, hurt by rising logistics costs and higher raw-material prices.

LG Electronics' operating profit plunged by 20.9 percent in the third quarter of this year due to rising logistic costs derived from geopolitical conflicts.

LG Electronics Inc. said Thursday its third-quarter net profit tumbled 81.4 percent from a year earlier due to rising logistics costs. Its net income for the July-September period reached 90.2 billion won (US$65.

LG Electronics’ net profit slumped in the third quarter, hurt by rising logistics costs and higher raw-material prices, as it continued to struggle with tepid demand.