According to foreign media reports, South Korea's LG Display turned losses into profit in the third quarter, driven by the rise in display panel prices before the end of the holiday sales season.
LG Display announced on Wednesday that its third-quarter operating profit was 140 billion won (about $123.2 million), higher than analysts' average estimate of 79 billion won.
LG Display's third-quarter revenue increased 9% to 6.1 trillion won from the previous quarter, but still fell 12% year-on-year.
Driven by sales growth, the organic light-emitting diode (OLED) TV panel business turned around in the third quarter; but LG Display did not disclose the profit amount.
Compared with LCD, OLED is no backlight, no liquid crystal self-luminous display. Due to the thinner and lighter material, OLED can realize a variety of designs, and its perfect black and more accurate color performance ensures it. The perfect picture quality in display. In the field of innovative TV panels, OLEDs have given more possibilities to modern TVs, such as wallpaper TVs and self-sounding TVs. LG Display said that at present, the OLED camp has expanded to 14 in the world. Home, including Hisense, Skyworth, Changhong, Konka and other Chinese manufacturers.
This is the first time that LG Display has achieved quarterly profit this year, but analysts expect that the upturn may not last long, as panel prices may fall again after the holiday sales season.