Yesterday, LG stated its financial results for the third quarter. The company made it publicize that its total revenues grew by 21.9% to $3.75 bln.

In contrast to Nokia, LG's sales growth both on sequential and annual basis was declared mainly in its mobile handset section as compared to its other products.

It was made public that the sales generated in the cell phone section gathered almost $3.53 billion totalling up to 24.8% growth.

A sale of nearly 31.6 million handsets in the Q3 was a 6% increase on sequential basis and the 37% flow as compared to the same period during last year was found to be really good in the current global recession.

The South Korean consumer electronics and mobile communications company now expects modest sequential sales growth for the fourth quarter.