LG profits up in Q3 after cost-cutting reduces smartphone losses

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(Telecompaper) LG Electronics reported a small rise in third-quarter revenues and higher profits, helped by reduced losses at its smartphone business and expansion in the automotive market. Total revenues were up 1.3 percent to KRW 15.43 trillion, and operating profit rose 45 percent to KRW 749 billion, slightly ahead of the company’s preliminary report. Net profit jumped 48 percent to KRW 497 billion, helped by lower taxes and fewer one-time charges. 
Source: Industry News (syndicated from Telecompaper.com)

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