
LG Electronics reported Wednesday an 87 percent jump in third-quarter net profit from a year ago after profits from its mobile unit surged to a five-year high.
Net profit for the South Korean electronics giant in the July-September period amounted to 202.6 billion won ($193 million), up 87 percent from a year ago, the company said in a statement.
Operating profit also jumped 112 percent to reach 461.3 billion, while sales rose seven percent to 14.9 trillion won.
The firm's handset unit led the growth with a 39-percent rise in sales and an operating profit of 167.4 billion won -- the highest for five years and a turnaround from a 79.7 billion won loss a year ago.
The handset unit sold 16.8 million smartphones in the third quarter, breaking the quarterly sales record set in the second quarter.
The world's sixth-largest smartphone maker struggled for years with sluggish sales after making a late entry into the market following competitors like Samsung and Apple.
But LG recently showed signs of revival with its flagship G3 smartphones, while its bigger South Korean rival Samsung saw profits sag.
Samsung -- the world's top maker of smartphones and TVs -- is set to post a nearly 60 percent plunge in its third quarter operating profit to be announced on Thursday, although the figure of 4.1 trillion won is still nearly 10 times bigger than LG's.
LG's TV unit saw operating profit inch up five percent to 130.5 billion won on growing sales of high-end sets.
LG shares rose 4.31 percent to close at 67,800 won on the Seoul stock market.
GMT 09:47 2018 Tuesday ,23 January
SAP unveils big push into French tech start-upsGMT 05:07 2018 Tuesday ,23 January
Noble Group shares surge 37 percent on buyout talksGMT 19:07 2018 Monday ,22 January
BAKS spent Dh225m on charity projects in 2017GMT 22:52 2018 Sunday ,21 January
French firm "recalls baby milk product"GMT 22:27 2018 Sunday ,21 January
US company plans funds that double bitcoin price movesGMT 21:23 2018 Sunday ,21 January
Pence starts Mideast tour in Egypt amid Arab angerGMT 08:54 2018 Saturday ,20 January
Million-euro bill for firm behind Paris bike-share chaosGMT 10:47 2018 Friday ,19 January
German chemical giant BASF sees 'significant' profit leap

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor