UPDATE 1-LG Display Q1 profit beats fcasts on strong TV sales

* Q1 op profit 789 bln won, tops fcast

* Sees higher LCD shipments, firm prices in Q2

* Raises 2010 capex to more than 5.5 trln won from 4 trln won

* Shares close up 0.5 pct prior to results

(Adds details)

SEOUL, April 22 (Reuters) - South Korea's LG Display
(034220.KS) swung to a better-than-expected quarterly operating
profit on Thursday, spurred by buoyant flat-screen TV sales and
strong demand from China.

The outlook is bright for the liquid crystal display sector,
as China's TV-buying spree and strong sales of computers and flat
screen TVs help the industry recover fast from a year-long
downturn.

Tight component supplies are also likely to keep panel prices
firm in the second quarter, although big investment plans by
major producers could lead to oversupply again later this year.

On Thursday, LG Display, the world's No.2 maker of liquid
crystal display (LCD) screens, expected LCD prices to remain firm
in the second quarter, while shipments were seen rising by around
10 percent.

The company, which competes with home rival Samsung
Electronics Co (005930.KS) and Taiwan's AU Optronics Corp
(2409.TW), reported a 789 billion won ($712.3 million) operating
profit in January-March, versus a forecast of 618 billion won
from Thomson Reuters I/B/E/S.

It marked an impressive turnaround from a year-ago loss of
revised 317 billion won and was up from a profit of 313 billion
in the fourth quarter.

LG Display, a supplier to Apple's iPad tablet PC, reported
5.88 trillion won in sales, up from 3.54 trillion won a year ago,
aided by strong PC and flat-panel TV shipment growth in the first
quarter.

LG Display also said it had increased capital expenditure
planned for this year to more than 5.5 trillion won from over 4
trillion won set aside previously.

Global PC shipments rose 27 percent in the first quarter,
while LCD TV shipments jumped 48 percent, according to industry
data.

Global shipments of LCD TVs, which now account for more than
half of the total LCD demand, are forecast to grow 24 percent
this year to 180 million units, according to research firm
DisplaySearch.

LG Display shares have risen by a quarter since late February
versus a 9 percent gain in the broader market .KS11.

Prior to the results, the stock closed up 0.5 percent on
Thursday at 43,950 won, versus a 0.5 percent drop in the wider
market .KS11.
(Reporting by Miyoung Kim; Editing by Jonathan Hopfner)