South Korean tech firm LG Electronics continued its steady growth path with net profit rising 86.7 percent in the third quarter from a year earlier on brisk sales of its flagship G3 smartphones, the company said Wednesday.
Net profit was at 202.6 billion won ($193.5 million) in the July-September period, compared with 108.5 billion won in the same period last year.
Operating profit soared 111.8 percent on-year to 461.2 billion won, with sales reaching 14.9 trillion won in the same period, up 7.4 percent from a year earlier.
Sales of LG’s high-end G3 smartphone jumped 39 percent in July-September from a year ago. The firm said it shipped a record 16.8 million smartphone handsets in the third quarter. This was higher than its previous record-high shipment of 14.5 million units in the second quarter.
The company’s mobile communication unit consequently reported a record-setting quarterly operating profit of 384.4 billion won in the third quarter, with the revenue coming to 4.24 trillion won, LG Electronics said.
