A method of processing an in-phase signal component and a quadrature signal component of a low intermediate frequency (LIF) signal includes estimating and correcting an amplitude imbalance between a digitized in-phase signal component and a digitized quadrature signal component at a first point in time, and estimating and correcting a phase imbalance between the digitized in-phase signal component and the digitized quadrature signal component at a second point in time in response to the correcting process. The digitized in-phase signal component corresponds to the in-phase signal component at the first point in time and the digitized quadrature signal component corresponds to the quadrature signal component at the first point in time. The second point in the time is subsequent to the first point in time.