LGD Reports Increased Profits Thanks To OLED TVs

LG Display posted Q3 net profits of KRW477 billion ($425 million), up 152% from KRW190 billion ($169 million), on turnover which increased by 4% to KRW6.97 trillion ($6.2 billion) from KRW6.72 trillion ($6.0 billion). For the first three quarters, profits were KRW1.89 trillion ($1.7 billion), up from only KRW107 billion ($95 million) a year ago, on revenue of KRW20.66 trillion ($18.4 billion), a rise of 11% from KRW18.57 trillion ($16.5 billion). The company attributed its success to increased TV panel shipments, which accounted for 40% of its sales.