LG reported an income increase of 45 per cent but its struggling mobile phone business continued to lose money in the third quarter.
LG Electronics reported sales of $13.7bn (£10.6bn) and operating profit of £668m – its operating income jumped 45 per cent from the same period in 2017.
The South Korean company's mobile phone division narrowed losses significantly but still suffered an operating loss of $131m.
It said a focus on mid-range phones had reduced its operating deficit but hoped the roll out of its high-end V40 smartphone would boost sales in the fourth quarter of the year.
“Despite the weakening demand for smartphones worldwide and increased competition, the company significantly reduced its operating deficit as a direct result of its business plan and its stronger focus on mid-range products,” the company said in a statement.
Sales of its OLED and UHD TVs remained strong and the company indicated it would increase focus on premium TV models “to maintain profitability despite the sluggish overall TV market.
“It's going to get difficult for LG if it keeps booking losses in its mobile unit, unless it does something extreme such as making a mega-hit product or laying off staff to restructure its business,” said analyst Lee Jong-Wook at Samsung Securities.
LG shares dropped 2.8 per cent after its result were released on Thursday.