LG Electronics(LG Cell phone news) posted an 84 percent jump in quarterly earnings Monday, helped by high margins on mobile phones, brisk sales of TVs and solid results at its LCD joint venture.

LG’s 2008 net profit on a parent basis is forecast to more than double to 2.53 trillion won, according to 25 analysts polled by Reuters Estimates.

LG, which owns 38 percent of LG Display, benefited from another banner quarter at the display maker, which on June 9 posted a quarterly net profit that more than trebled from a year ago.

LG, the world’s fourth-largest mobile phone maker, after Nokia, Samsung Electronics and Motorola, and ahead of Sony Ericsson, sold a record 27.7 million phones in the second quarter, from 24.4 million in the January-March period.

LG Electronics(LG Cell phone news) said that they had sold 7 million touchscreen cell phones by the end of the second quarter.

The LG Electronics also said that the growth of touchscreen cell phone sales also played an important role in advancing its brand equity. The LG Electronics ’s brand recognition in the UK soared to 91.4 percent in 2007 versus 80 percent in 2005, according to internal research measuring unaided brand awareness.

According to a recent study by Strategy Analytics, the global touchscreen handset market will reach 125 million units by 2010, a more than four-fold increase of 2007’s 30 million units. This is why LG Electronics’ leadership in touchscreen phones is so important and is a key to the company’s future success.