LG announces $139 million Q3 net profit

LG has posted its financial results for the third quarter of the year, and it’s the third period in a row it’s turned a profit.

The Korean company made 157 billion won ($138.57 million, £87 million) – not a staggering amount, and it’s actually down on last year. But in these uncertain economic times, any profit is good news.

LG describes its home theatre and mobile businesses as giving “solid” performances. Its mobile side made an operating profit of $19.42 million (£12.13 million), which was up a little on the second quarter. And expect this to get even better, when it reveals its Nexus-branded handset next week.

Sales of LG LCD TVs, 3D and LED sets were also on the rise from last quarter. Again, expect sales to improve in the winter months as more people shun the bad weather to stay in with the gogglebox.

LG also claims it’ll increase sales of LCD TVs in this quarter by pushing itsCINEMA 3D Smart TVs and its new Ultra HD TV.

LG is widely expected to announce its Nexus 4 handset next week at a Google event. It’s one of the worst-kept secrets in tech, with photos aplenty leaking, and even an exec confirming Monday’s launch.

The device is expected to look like the Galaxy Nexus, with a screen around 4.7-inches in size. Inside will be a quad-core Qualcomm Snapdragon S4 Pro processor, and it’s expected to run the latest version of Android.

Google is also expected to open up the Nexus family, so anyone can make devices under the umbrella, as long as they meet the spec requirements.

Source: Engadget