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LG Electronics Q3 operating profit more than double

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Staff writer |
LG Electronics
Smartphones are doing just fine   Operating profit was $440 million

South Korean tech giant LG Electronics said its third-quarter operating profit more than doubled from a year earlier due to record smartphone sales.

Operating profit was 461.3 billion won ($440 million) in the third quarter, up 111.8 percent from a year ago, the company said in a statement. From three months ago, the profit declined 23.9 percent.

Revenue increased 7.4 percent from a year earlier to 14.92 trillion won in the quarter, and net income surged 86.7 percent to 202.6 billion won.

The solid earnings stemmed from strong performance in its mobile business which saw record smartphone sales of 16.8 million units during the quarter, the company said.

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