LG Display's Net Nearly Doubles
South Korea’s LG Display Co. said its third-quarter net profit nearly doubled from a year earlier, thanks to a steady rise in prices for flat-panel screens.
Big producers of liquid-crystal displays, including LG Display, are currently reaping the benefits of higher prices. Prices have gotten a lift lately because of reduced production and robust demand from China, where a government stimulus package is pushing consumers in rural areas to purchase consumer electronics. A shortage of glass used to make LCD panels also contributed to the tightness of the panel market during the third quarter, further boosting prices and profits.
LG Display, one of the world’s largest makers of LCDs, said it expects its fourth-quarter shipments of liquid-crystal displays to rise by a high single-digit percentage from the third quarter, while it expects average selling prices to show a “gradual” decline from the third quarter.