Live
- K.T. Rama Rao calls on farmers arrested for attack on Vikarabad officials
- AP CM Chandrababu Naidu Unveils Vision for Andhra Pradesh amidst Financial Challenges
- VVS Laxman lauds fans for massive support on foreign tours
- Bengal lottery scam: Huge amount of cash traced, ED brings currency counting machine
- Raj Thackeray releases MNS election Manifesto with a ‘key’ to implementing it
- Gold prices likely to further come down with no near-term positive triggers
- Tough decision, but it's the right one: Southee on Test retirement
- After caste census, Dalits, tribals, poor will recognise their true strength: Rahul Gandhi
- Who was Birsa Munda, whose 'Ulgulan' declared the end of British rule in Jharkhand?
- Logistic firm Delhivery’s profit tanks over 80 pc in April-Sep period
LG Display reports record Q4 profits; panel prices seen rising further
South Korea\'s LG Display Co Ltd (034220.KS) said on Tuesday it reported a record fourth-quarter operating profit of 904.3 billion won ($778.33 million) due to a pickup in panel prices.
South Korea's LG Display Co Ltd (034220.KS) said on Tuesday it reported a record fourth-quarter operating profit of 904.3 billion won ($778.33 million) due to a pickup in panel prices.
The world's biggest liquid crystal display (LDC) maker said the profit was caused by the upward trend of panel prices and a favourable foreign exchange rate.
"The upwards trend of panel prices is anticipated to continue thanks to the low inventory level in the industry and the trends towards large-size panels," Chief Financial Officer Don Kim said in a statement.
The price of television LCDs larger than 32 inches has been rising for 10 months, according to data provider WitsView last week.
Analysts said the rise was mainly due to supply-side factors such as rival Samsung Display Co Ltd's shutdown of an LCD fabrication plant last year, causing a tight supply-demand environment.
The company said its October-December operating profit of 904.3 billion won rose 1,392 percent from the same period previous year, beating a Thomson Reuters StarMine SmartEstimate of 845 billion won drawn from a survey of 27 analysts.
Revenue for the quarter rose 18 percent from a year earlier to 7.9 trillion won, LG said.
LG Display, which supplies screens for Apple Inc's (AAPL.O) iPhones and LG Electronics Inc's (066570.KS) TV sets, said earlier this month it was in talks with Samsung Electronics Co Ltd (005930.KS) about a supply agreement for TV panels.
