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Monday, April 22, 2013
LG Display's Profit Up In Q1

LG Display, the world?s second- largest flat-panel maker, said Monday it posted a first-quarter profit as increased demand for TV screens in China helped offset falling sales of smaller displays to Apple.

The company's net profit reached 3.48 billion won (US$3.1 million) in the January-March period, compared with a loss of 129 billion won a year earlier, LG Display said in a regulatory filing.

Revenue jumped 10 percent on-year to 6.8 trillion won in the first quarter, while the company posted an operating profit of 151 billion won.

"With differentiated specialty products, we were able to achieve operating profit for four consecutive quarters overcoming seasonal factors," said LG Display chief executive Han Sang-beom.

However, compared to the previous quarter, the company's first-quarter sales dropped 22 percent and operating income dived 74 percent.

TFT-LCD panels for TVs, monitors, tablets and mobile applications accounted for 43 percent, 21 percent, 14 percent and 13 percent, respectively, of LG Display's total revenue.

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