SEOUL, South Korea-Handset juggernaut LG Electronics Co. Ltd. continued its sales expansion in the third quarter, announcing 64.2-percent year-on-year growth in its mobile-phone business to $2.1 billion in sales. The electronics giant said it saw strong shipments of CDMA and GSM products in North America and third-generation products in Europe.
LG said its total sales increased to $5.7 billion, its operating profit rose to $333 million and its net profit grew to $285 million. The company said its strong performance was due to sales of mobile phones, digital TVs and air conditioners.
In the company’s telecommunications equipment and handsets division, LG’s sales grew 61.3 percent year-on-year to $2.3 billion. The division’s operating profit was $216 million with a margin of 9.3 percent. However, the company said its domestic handset sales declined 25 percent quarter-on-quarter due to sluggish demand.
