LG Display Q4 operating profit more than halves, beats analyst estimates

SEOUL Thu Jan 23, 2014 1:22am EST

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SEOUL Jan 23 (Reuters) - South Korea's LG Display Co Ltd said operating profit more than halved in the fourth quarter as soft demand for TVs continued to compress screen prices, outweighing a sales rebound in displays for Apple Inc's iPhones.

The world's biggest maker of liquid crystal displays on Thursday posted operating profit of 257 billion won ($241 million) for October-December, down 56 percent from a year earlier.

That compared with a 238 billion won mean estimate of 31 analysts polled by Thomson Reuters I/B/E/S.

Shares of LG Display, worth $11.15 billion, closed down 0.4 percent ahead of the earnings release, compared with the benchmark index which was 1.2 percent lower. ($1 = 1067.3000 Korean won) (Reporting by Miyoung Kim; Editing by Christopher Cushing)

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