Bolstered by a record 16.8 million smartphone sales in Q3 2014, LG announced that it has almost doubled its profits to $440 million from the same time a year ago. The 39 percent year-on-year increase in sales mark LG's best quarter in five years.

In terms of numbers, LG's mobile division recorded $4.14 billion in sales, with an overall operating profit of $163.16 million. The strong showing of the LG G3 was likely a factor in increased sales, with LG also attributing strong performance of its handsets in the budget and mid-tier segments. LG is looking to continue its run by focusing on the G series and L series lines in the future:

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Building on its momentum and two consecutive profitable quarters, LG expects to strengthen its positioning in the smartphone market with its G Series and L Series III models despite the landscape becoming more competitive.

What do you guys think? Can LG sustain its growth?

Source: LG

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