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October 29, 2014

LG quarterly profit doubles with smartphone surge

Firm ships over 16 million handsets.

By Ben Sullivan

LG’s third quarter operating profits have doubled since the same period last year, with the firm’s mobile business earnings riding a five-year high wave.

The South Korean firm reported a net income of $193 million.

LG Electronics also saw its TV business grow 5.2% from the third quarter last year.

In a statement, LG said: "LG’s earnings reflected strong performance from its mobile business."

The firm reported an operating profit of $440.2 million, with the mobile division turning an operating profit of $159 million, the highest figure since Q3 2009.

LG said that it shipped over 16 million smartphones in Q3 2014, still behind Samsung’s predicted 80 million shipments.

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