LG Display posts profit but outlook dim

LG Display returns to profit in 4Q but outlook dim on lower iPhone sales

Associated Press

SEOUL, South Korea (AP) -- 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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