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LG Display posts profit but outlook dim
(Associated Press Via Acquire Media NewsEdge) SEOUL, South Korea -- LG Display reported a profit for the fourth quarter as its key customers including Apple Inc. launched new products.
The South Korean panel maker said Thursday its October-December net income reached 319.7 billion won ($299 million), lower than the 352 billion won median forecast by analysts polled by FactSet.
It had a loss of 6.3 billion won a year earlier when the European Union fined LG 215 million euros for price fixing.
Sales rose 32 percent to 8.74 trillion won. Operating profit totaled 587.3 billion won, compared with a 154.7 billion won loss a year earlier.
Analysts expect a lower profit in the current quarter due to slower sales of iPhones and iPads.
(c) 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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