SEOUL Jan 24 LG Display Co Ltd
reported a second consecutive quarterly operating profit on
Thursday, helped by a rebound in television sales during the
year-end holiday season and solid sales of its screens used in
Apple Inc's iPad and iPhone.
LG Display, which vies with Samsung Electronics Co Ltd's
panel unit for the top position in liquid crystal
display flat screens globally, reported 587 billion won ($550.6
million) in operating profit for the October-December quarter.
That was far above an average forecast for a 441 billion won
profit in a poll of eight analysts by Thomson Reuters and up
from an operating loss of 155 billion won for the same period a
It also marks its highest quarterly profit since the second
quarter of 2010 and a continuation of a turnaround that began in
July-September after seven straight quarters of losses, mainly
due to an industry oversupply of TV panels.
But analysts expect earnings for LG display, which provides
about 70 percent of Apple iPad screens, will tumble this
quarter. The U.S. company reported disappointing fourth-quarter
results on weaker-than-expected iPhone sales, fanning fears that
its dominance of the mobile industry was slipping.
LG Display's share price climbed 40 percent in the first 11
months of 2012 but have lost 17 percent since then due to
worries about demand for Apple products.