LG Display revenue dips 12% despite LCD price hike

South Korea’s LG Display said its revenue fell 12 percent in third-quarter from a year earlier to 6.1 trillion won despite increase in LCD price.
LG Display has posted 76 percent fall in third-quarter profit on Wednesday compared with a year earlier, after two quarters of consecutive losses, helped by higher seasonal panel prices.

The Apple supplier said operating profit was 140 billion won ($123.2 million) for the July-September quarter.

Recovering Liquid-Crystal Display (LCD) prices ahead of the year-end holiday period boosted the bottom line but the firm said the trend was not expected to continue into the fourth quarter.

The Organic Light-Emitting Diode (OLED) TV panel business turned to profit in the third quarter, supported by sales volume growth. The firm did not disclose the size of the profit, Reuters reported.

Prices for 50-inch (127 cm) LCD television panels began to rebound in August to $117 after hitting a record low of $109 in June, according to data provider WitsView, part of research provider TrendForce.