LG Display Result 23/10/2014

LG Display (LGD) has reported its third quarter results, posting a net profit of KRW354 billion ($334.1 million) on turnover of KRW6.5 trillion ($6.1 billion), which compares with a net profit in Q3 of last year of KRW240 billion ($226.5 million) on turnover of KRW6.6 trillion ($6.2 billion). The company’s operating profit in Q3 was KRW474 billion ($447.2 million), representing a sequential increase of 191% and a year on year increase of 22% and reaching its highest level in almost two years. LGD said that the increase in profit was driven by increased shipments of small- and medium-size panels, such as high-resolution panels for mobile devices, and by an increased share of large-size panels due to the trend towards larger size TVs. In addition, seasonal demand growth and a favourable pricing trend in large-size panels improved the results. The company shipped a total of 9.65 million square metres of net display area in the third quarter of 2014, an increase of 3% from Q2. TFT-LCD panels for TVs, mobile devices, monitors, tablets, and notebook PCs accounted for 42%, 19%, 17%, 12%, and 10% respectively on a revenue basis in the third quarter of 2014.