Handset unit's sixth consecutive quarterly loss contributes to 14 per cent drop.
Shares in LG fell on reports it was planning a $890 million share sale to fund a new strategy.
It's reportedly looking to expand into new areas such as solar energy, healthcare and water processing, after consistent failures to score consistent success in consumer electronics.
Now the markets are all rounding on the company, further depressing a share price that is already down more than 40 per cent this year.
In mobile, LG has been one of the losers in the smartphone space, watching as Samsung, Apple and HTC disappear into the distance.
Its Android-based Optimus phones have failed to capture the public's attention, and though the firm remains third in the world market share (including feature phones) with 5.4 per cent, it is losing share fast to new entrants like Huawei and ZTE.
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