Home / News / LG doubles profits thanks to record smartphone sales in Q3
Firm also reports 5.3 per cent growth in its TV business

LG doubles profits thanks to record smartphone sales in Q3

LG’s third-quarter profits have more than doubled compared to a year ago, with its mobile business surging to a five-year high.

The firm reported an operating profit of 461 billion won (£273 million). Its mobile division saw 16.8 million smartphone sales in Q3 2014 – a new record for the company.

While LG does not disclose individual product sales, IM Investment analyst Kim Woon-ho estimated before the earnings announcement that LG likely shipped around three million G3 smartphones during the period.

The new flagship smartphone comes with a 5.5-inch 1440×2560 display, 2.46GHz processor, 2GB of RAM and a 13MP rear camera.

LG also reported that profits for its TV business grew 5.2 per cent from a year earlier.

Back in July, PCR reported that LG had created two 18-inch OLED panels, one that is flexible enough to be rolled into a cylinder, and another that is transparent.

The firm said it was confident that by 2017, it will successfully develop a 60-inch Ultra HD flexible and transparent OLED panel, ‘thereby leading the future display market’.

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