After getting eclipsed by its Korean counterpart Samsung for the past few years, LG is finally becoming relevant again after it posted a 217.8 billion won ($196.34 million) operating profit in Q3 of this year. This is a 27% increase over the same period last year.
LG claims that it's able to achieve this despite slowing demand in its Home Entertainment division and unfavorable exchange rates.
The company's earnings report has LG Mobile shipping an impressive 12 million smartphones this past quarter. The company also expects a further increase in sales during the holiday season fuelled by the strong performance of its LG G2 flagship and midrange devices like the L II and F series.
It's great to see LG on the road back, and we hope it will be able to give the undisputed leader, Samsung, a run for its money soon enough. The other Korean giant's Q3 earnings report is expected any day now, but initial estimates indicate it's poised for a record-breaking $7.28 billion profit.
