South Korea's LG Electronics Inc. says its third-quarter profit jumped 87 percent over a year earlier as smartphone sales set a record high.
LG Electronics said Wednesday its July-September net income reached 202.6 billion won ($193 million) on sales of 14.9 trillion won. Operating income more than doubled from a year earlier to 461.3 billion won.
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LG said the solid earnings stemmed from the recovery of its handset business. Its profit exceeded that from televisions, LG's other mainstay business.
The company's smartphone shipments increased 40 percent from a year earlier to a record 16.8 million units, as its flagship G3 smartphone and mid-tier L series smartphone drove sales.
LG's mobile communications business remained profitable for a second straight quarter after three quarters of losses.