LG Display logs small profit in Q1

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Associated Press

Posted on April 22, 2013 at 2:07 PM

SEOUL, South Korea (AP) — LG Display Co. reported a small profit in the first three months of the year, reflecting slackening orders from its key client, Apple Inc., during a typically slow period for the consumer electronics market.

LG Display said Monday its net income for the January-March period was 3.5 billion won ($3.1 million), compared with a net loss of 129.2 billion won a year earlier.

Although the Korean panel giant made a turnaround from a year earlier, its profit missed market forecasts. Analysts said LG Display probably sold fewer iPhone and iPad screens, outweighing increased panel sales to LG Electronics Inc., its biggest shareholder.

LG Display's first quarter sales rose 10 percent to 6.8 trillion won. Operating profit stood at 151.3 billion won, compared with a 211.1 billion won loss a year earlier.

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