LG Display reports profit for July-September

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Seoul

South Korea’s LG Display reported a profit for July-September, ending a six-quarter run of loss, helped by shipments for Apple Inc’s new iPhone and stay-at-home trends boosting panel demand for TVs and laptops. LG Display expects rising panel shipments and sales in the current quarter as well and suggested it has pushed back plans to phase out all of its domestic liquid crystal display (LCD) TV panel production by year end to respond to TV demand. It also painted a positive outlook for its sales to Apple, which would offset the suspension of sales to China’s Huawei as a result of US sanctions. LG Display posted a third-quarter operating profit of 164 billion won ($145 million) versus a loss of 437 billion won a year earlier.—AN

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