LG Display profits up 80%
October 26, 2017
By Chris Forrester
LG Display, which makes flat panels for its own use in TV sets and cellular phones and sells panels to other display manufacturers, saw year-on-year operating profits rise impressively by more than 80 per cent to Won 586bn (€519m) for its third-quarter. This continues the improvement achieved in Q2 (Won 804bn).
LG Display reported that it shipped 10.32 million square metres of panels (down from 10.86 sq. m in Q3/206) and the average selling price achieved was $600 per sq. m (down from $642 in Q3/2016).
The improvement in operating profits, and ahead of market expectations, was helped by strong demand for its OLED screens in high-end displays. LG Display also supplies screens for Apple’s iPhones and tablets.