LG Electronics Inc., South Korea's No. 2 tech giant, said Friday that its second-quarter operating profit is estimated to have more than doubled from a year earlier.

The tech company's second-quarter operating income for the April-June period is estimated at 584.6 billion won ($503.3 million), up 140 percent from the 244 billion won posted a year earlier, the company said in its earnings guidance report. 

The estimates slightly hovered above the market consensus.

According to data compiled by Yonhap Infomax, the financial arm of Yonhap News Agency, the market consensus for LG Electronics' second-quarter operating profit was put at 494.7 billion won.

LG said its second-quarter sales are forecast to have reached 14 trillion won, also up 0.5 percent from 13.92 trillion won a year earlier.

LG did not offer a net profit estimate for the second quarter.

LG Electronics will unveil its finalized earnings, including the net performances and breakdowns for each segment, later this month. (Yonhap)