South Korea's LG Electronics Inc posted its highest quarterly operating profit in two years, thanks to record appliances and television earnings that offset another loss for the mobile division. The world's second-largest TV maker behind Samsung Electronics Co Ltd said in a regulatory filing its April-June profit more than doubled from a year earlier to 585 billion won ($521 million), matching its earlier guidance.
LG said it expected July-September operating profit to be higher than the 294 billion won profit it reported a year earlier, while revenue would be similar to the 14 trillion won recorded in the third quarter of 2015.
Operating profit for the appliances division jumped 49 percent from a year earlier to a quarterly record of 433.7 billion won, the company's top earner for the seventh straight quarter as sales of premium products continued to support margins.
LG's TV division swung to a profit of 356.7 billion won, also a quarterly record, boosted by sales of high-end televisions and improved cost structure amid declining panel prices.