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