LG today announced its financial results for the third quarter of 2014 where it reported a profit of $440 million. This is nearly double of what the company made in the same period last year. The company’s smartphone shipment also increased by 39% to 16.8 million smartphones — making it LG’s best quarter ever in the last five years. Overall, the company’s mobile division recorded $4.14 billion in sales and a net profit of $63.16 million. LG attributes much of this success to its latest flagship — the LG G3 — and its mid-range G and L III series handsets. The company further expects to strengthen its position in the smartphone market using its mid-range handsets despite the increasing competition.
