LG Electronics is likely to see an impressive profit rise in its Q2 2016 earnings, despite scepticism about the performance of its latest G5 flagship and its overall mobile business.

According to a preliminary earnings release, the South Korean consumer electronics company will see operating profit hit KRW585 billion ($504 million), a 139.5 per cent increase year on year from KRW244 billion, representing a two year high according to Reuters.

Revenue meanwhile will see a 0.5 per cent increase, reaching KRW14 trillion, with the company’s performance boosted by sales of its appliance business, including sales of premium products such as air conditioners, analysts told Reuters.

The company, which is the second biggest TV manufacturer behind Samsung, is also likely to have seen sales boosted in that division, due to the 2016 European Championship football tournament.

Rival Samsung yesterday suggested it would also post a good set of Q2 numbers, with indicators pointing to a successful quarter for its flagship Galaxy S7 device.

The same however cannot be said for LG’s G5, launched at the same time as the S7 at this year’s Mobile World Congress, with analysts telling Reuters that sales of the phone had been “disappointing”, contributing to a fifth consecutive operating loss for its mobile division.

“Despite the G5’s originality, LG only sold 2.2 million units of the strategic model due to stiff competition, Greg Roh, investment analyst at HMC, said. “We expect the mobile division to remain in the red in Q3 2016.”

LG did not provide any further financial details, and is due to release its full Q2 report at the end of the month.