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LG posts a net loss for Q3, loses ground in mobile sales
The Q3 numbers for LG are in, showing its cellphone unit lost money for the sixth straight quarter, with profits coming from the home appliance and air conditioning units. On the home entertainment side, it shipped more flat panel TVs than ever before (6.8 million) and despite lower revenues managed to improve operating profit by selling more of its high end Cinema 3D and LED-lit HDTVs. Unfortunately for the mobile division, sales were down 8.5 percent from last year and the company recorded a $128.47 million operating loss. Making things worse, Reuters reports its rival Samsung is expected to report strong profit in mobiles on Friday, and pass Apple as the world's biggest smartphone seller on the back of its Galaxy S line. We don't know if LG will be able to turn things around anytime soon, but giving the Optimus LTE an Ice Cream Sandwich finish and shipping it sooner rather than later couldn't hurt.
