LG Display: No one buys TVs any more, but mobe screens? KerCHING
Q4 won't be as good, as telly display demand plummets
LG Display has reported its highest quarterly profit this year as smartphone screens for mobes like the iPhone continue to prop up poor returns in TV displays.
The screen firm said that operating profit jumped 31 per cent to 389bn Korean won ($365m) in the third quarter compared to the same period last year. But TV's proportion of revenue continued to slip, down to 44 per cent from 47 per cent, while smartphone and fondleslab displays lifted to 25 per cent from 24 per cent.
Chief financial officer James Jeong told analysts that fourth quarter profit wouldn't be as high as this quarter, because TV revenue would still be under pressure.
"Given the weak profitability that TV manufacturers are having right now, it'll be difficult to expect panel prices to rebound any time soon, but their rate of decline is likely to slow down," he said. "It's inevitable that our operating profit will decline in the fourth quarter."
LG Display reported revenues in the third quarter had fallen from last year, down 13 per cent to 6.5trn won ($6.1bn). Net income in the quarter was 239bn won ($225m), compared to 158bn won ($148m) in July to September 2012. ®