LG Electronics' Q3 profit rises on home appliances, auto parts

LG Electronics reported a notable increase in profits for the third quarter, primarily fueled by its home appliance and auto parts divisions, according to a recent regulatory filing. The company's operating profit climbed to 781.8 billion won ($583 million) for the July-September period, marking a 13.5% increase compared to the previous year. Sales for the same period rose by 8.9% to 23.82 trillion won.

The growth was attributed to the continued success of the company's core businesses and the expansion of its business-to-business operations. The home appliance and vehicle solutions businesses demonstrated solid profitability, while the TV business also showed improved profitability compared to the previous year.

For the first nine months of the fiscal year, LG Electronics' sales reached a record 71.38 trillion won, a 9.2% increase from the same period a year earlier. Operating profit for the first nine months hit a record high of 4.03 trillion won, a substantial 55.9% increase. Despite challenging external business conditions, such as conflicts in the Middle East, the company maintained its growth by upholding its strong market positions in its core businesses.