Reuters: Technology News: LG Display Q3 profit up 31 percent, meets expectations

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LG Display Q3 profit up 31 percent, meets expectations Oct 17th 2013, 06:32 Tweet Share this Email Print Reprints An LG Electronics' logo is pictured on a laptop computer displayed at a shop in central Seoul, July 23, 2013. Credit: Reuters/Lee Jae-Won SEOUL | Thu Oct 17, 2013 2:32am EDT SEOUL (Reuters) - South Korea's LG Display Co Ltd on Thursday reported its highest quarterly profit this year as an increase in sales of displays for mobile devices such as Apple Inc's iPhone offset a decline in sales of displays for television sets. LG Display, the biggest maker of liquid-crystal display panels, posted operating profit of 389 billion won ($365 million) for its July-September quarter, 31 percent more than in the same period a year earlier. The mean estimate of 16 analysts polled by Thomson Reuters was 384 billion won. Shipments of LCDs for TVs fell in the third quarter from the traditionally weak second quarter for the first time, according to researcher IHS iSuppli. Analysts say this raises concern because TV LCDs draw the most revenue and because growth in the smartphone market is slowing. Shares in LG Display closed up 0.2 percent prior to the earnings announcement compared with a rise of 0.3 percent in the benchmark Kospi index. ($1 = 1065.5750 Korean won) (Reporting by Miyoung Kim; Editing by Christopher Cushing) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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