(Telecompaper) LG Electronics reported sales from its mobile phone business down 23 percent year-on-year in the third quarter to KRW 2.52 trillion (USD 2.3 billion). The company blamed the lower sales on a weak performance for top models like the G5 and price pressure in the smartphone market. Total smartphone shipments fell 9 percent year-on-year and were 3 percent lower versus Q2 at 13.5 million. The lower sales of premium devices and costs for restructuring led to a quarterly operating loss of KRW 436.4 billion in mobile.