SEOUL -- Two of the three major South Korean battery suppliers saw a deterioration in earnings in the January-March quarter as they powered up investment and, in one case, dealt with product recalls.
LG Energy Solutions has reported that its quarterly operating profit plunged 24% on the year to 259 billion won ($204 million) in the January-March quarter despite a 2% rise in net sales to 4.34 trillion won due to recalls by two major customers in the U.S. and South Korea.
