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.
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