LG Display swings to Q4 profit

SEOUL, S.KOREA: South Korea's LG Display Co Ltd swung to a quarterly operating profit thanks to healthy demand for flat screens, but results weakened from a peak in the previous quarter due to a seasonal slump.

The world's No. 2 maker of liquid crystal display (LCD) screens reported on Wednesday a 357 billion won ($315.2 million) operating profit in the October-December quarter, lower than a forecast of 445 billion won from Thomson Reuters I/B/E/S.

It marked a turnaround from a year-earlier operating loss of 288 billion won, but fell sharply from a record 904 billion won in July-September as weak seasonality dented panel prices and the stronger Korean won KRW= weighed.

Despite the slowdown, the LCD industry is headed for a strong first half this year thanks to strong Chinese demand for flat-screen televisions and the improving global economy.

Shares of LG Display, which competes with home rival Samsung Electronics Co Ltd and Taiwan's AU Optronics Corp, rose 16 per cent in the fourth quarter, against the wider market's .KS11 0.6 percent gain, unperpinned by the bright sector outlook.