LG Display logs small profit in Q1 (Update)

Apr 22, 2013 by Youkyung Lee

South Korean panel giant LG Display Co. said Monday that it logged a small profit in the first three months of the year, reflecting slackening orders from its key client, Apple Inc., during a typically slow period for consumer electronics.

Its net income for the January-March period was 3.5 billion won ($3.1 million), compared with a net loss of 129.2 billion won a year earlier.

Although the Korean panel giant made a turnaround from a year earlier, its profit missed market forecasts.

Analysts said LG Display probably sold fewer iPhone and iPad screens, outweighing increased panel sales to LG Electronics Inc., its biggest shareholder. Hanwha Securities estimated LG Display's iPhone screen sales in the first quarter fell 42 percent from the previous three months while its iPad screen sales dropped 31 percent.

LG Display's first quarter sales rose 10 percent to 6.8 trillion won. Operating profit stood at 151.3 billion won, compared with a 211.1 billion won loss a year earlier.

The panel maker, which competes with Samsung Electronics Co. and Japan's Sharp Corp., said its panel shipments in the current period will modestly increase from the first three months.

But LG Display's outlook will hinge on demand for TVs, which accounts for more than 40 percent of LG's revenues, and demand for Apple's new products, which will be launched later this year.

Explore further: 'Silicon Beach' brings tech boom to Los Angeles

not rated yet
add to favorites email to friend print save as pdf

Related Stories

LG Electronics 2Q net profit plunges, sales fall

Jul 27, 2011

(AP) -- LG Electronics, a top global manufacturer of mobile phones and flat-screen TVs, said second-quarter net profit plunged as sales declined and its mobile phone business remained in the red.

LG Display posts profit but iPhone dims outlook

Jan 24, 2013

LG Display reported a $299 million profit for the fourth quarter Thursday thanks to mobile product launches by key customers including Apple Inc. but warned that earnings will decrease in the current quarter as demand for ...

LG Electronics posts 2nd straight quarterly loss

Apr 27, 2011

(AP) -- LG Electronics reported its second straight quarterly loss, hit by investments in affiliates and falling sales, though the size of the red ink sharply narrowed amid improvement in its mobile phone ...

LG Electronics post profit on smartphone sales

Oct 24, 2012

(AP)—South Korean consumer electronics maker LG Electronics Inc. reported a third straight quarterly profit on Wednesday as sales of smartphones designed for faster wireless networks helped end losses at ...

Recommended for you

Comcast wins more Internet customers, ad sales up

1 hour ago

Comcast Corp.'s third-quarter net income jumped 50 percent in the third quarter, helped by a one-time tax settlement, growth in Internet subscribers and fewer defectors from its cable service.

Netflix to stream new online TV series, 'Bloodline'

1 hour ago

Fresh from commercial and critical success with hit shows "House of Cards" and "Orange is the New Black," Netflix on Thursday announced a new online series, "Bloodline," set for release in March.

Yahoo CEO defends strategy in face of criticism

9 hours ago

Signaling her reign has reached a pivotal juncture, Yahoo CEO Marissa Mayer is trying to convince restless shareholders that the long-struggling Internet company is heading in the right direction.

Sk Hynix logs all-time high Q3 earnings

10 hours ago

SK Hynix, the world's second-largest memory chip maker, reported Thursday a record high quarterly net profit for the three months to September on strong sales and currency earnings.

User comments : 0