LG Display Result 22/10/2015

LG Display reported decline in the net profit for Q3 2015 by 44% YoY to KR₩ 198 billion ($174 million) from KR₩ 354 billion ($311 million). On a QoQ basis, the net profit fell from KR₩ 363 billion by 45%. Turnover increased by 9% YoY to KR₩ 7.16 trillion ($6.3 billion) from KR₩ 6.6 trillion ($5.76 billion) and 7% from KR₩ 6.71 trillion ($5.9 billion) QoQ. Falling display prices and demand for high value added products such as Ultra HD TVs contributed to the decline in net profit in spite of an increase in revenue. Mr. Don Kim, CFO, said he expects the reduction in margins to slow down and with further concentration in differentiated products, expects the company’s financials to remain healthy.