LG Elec swings to Q3 profit on surprise handset result
SEOUL Oct 24 (Reuters) - LG Electronics Inc, the world's No.2 TV maker, swung to a third-quarter profit, as its handset division reported a surprise profit, helped by an improved product line-up.
July-September operating profit came in at 221 billion won ($200.3 million) from a 32 billion won loss a year ago, above a consensus forecast for 172 billion won by 13 analysts surveyed by Reuters. LG reported a profit of 349 billion won in the previous quarter.
LG's mobile phone business made a profit of 20.5 billion won versus a 58.9 billion won loss in the previous quarter.
The South Korean firm hopes its latest phones such as Optimus G and Optimus Vu II, packed with powerful hardware upgrades, will help it win a foothold in the high-end market dominated by Apple and Samsung Electronics Co . ($1 = 1103.1000 Korean won) (Reporting by Miyoung Kim; Editing by Richard Pullin)
We are living longer but not creating financial plans to keep pace. Advisers give tips on how to make sure you don’t outlive your money. Video