LG Display Rides Higher TV Panel Prices to Report Over Triple Gain in Operating Profit


South Korea’s LG Display saw its third-quarter operating profit more than triple on Wednesday as strong television demand boosted panel prices, but said it expects the pandemic-induced buying spree to slow next year Will go

NS Apple The supplier posted operating profit of KRW 529 billion (about Rs 3,390 crore) or KRW 164 billion (about Rs 1,050 crore) versus the July-September quarter a year ago.

It missed the average analyst forecast of KRW 600 billion (about Rs 3,840 crore) compiled by Refinitiv SmartEstimate.

Revenue grew 7.2 per cent to KRW 7.2 trillion (about Rs 46,110 crore).

“Panel shipments in Q4 are expected to grow mid-10 percent compared to Q3, with shipment delays impacted by industry component shortages… while LCD TV panels prices are expected to show a declining trend. Is. , ” lg display said in a statement.

LG Display said the strong demand for screens seen during the pandemic is likely to begin next year.

Panel makers, including LG Display, have enjoyed strong demand for their panels for both TVs and IT equipment, including monitors and laptops, as people have spent extra time working together. covid shutdowns, but such demand is likely to decrease as vaccinated people have already started spending less time in front of screens,” said Park Sung, an analyst at Cape Investment & Securities.

Prices for LG Display’s 55-inch liquid crystal display (LCD) panels for TV sets rose nearly 57 percent year over year in the third quarter, market data from Trendforce’s Witsview showed.

According to WitsView, the prices of those panels decreased by 7 percent in the third quarter compared to the second quarter.

Analysts said growth has started to slow down and could weaken further in the current quarter on the back of increased supply and moderation in demand as more people get vaccinated and spend less time in front of screens.

Shares of LG Display ended 0.3 per cent lower, with benchmark KOSPI down 0.8 per cent.

© Thomson Reuters 2021