October 24, 2012 / 4:20 AM / 5 years ago

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)

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