LG Display says some customers cut orders, sees weaker Q1 profit

SEOUL Thu Jan 24, 2013 2:23am EST

SEOUL Jan 24 (Reuters) - LG Display, the biggest panel supplier for Apple Inc's iPhone and iPad, warned profit in the current quarter would fall from the previous quarter due to weak seasonal demand and as some customers reduce screen orders.

"Some customers are adjusting their inventory and that will affect our panel shipments," Chief Financial Officer James Jeong told an analyst briefing.

"Along with overall weakness in demand due to a seasonal slowdown, we expect our panel shipments will decline by more than 10 percent and reduce first-quarter earnings."

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