LG Display Q4 operating profit more than halves, beats analyst estimates

Reuters News
Posted: Jan 23, 2014 1:40 AM

SEOUL (Reuters) - South Korea's LG Display Co Ltd said operating profit more than halved in the fourth quarter as soft demand for TVs continued to compress screen prices, outweighing a sales rebound in displays for Apple Inc's iPhones.

The world's biggest maker of liquid crystal displays on Thursday posted operating profit of 257 billion won ($241 million) for October-December, down 56 percent from a year earlier.

That compared with a 238 billion won mean estimate of 31 analysts polled by Thomson Reuters I/B/E/S.

Shares of LG Display, worth $11.15 billion, closed down 0.4 percent ahead of the earnings release, compared with the benchmark index which was 1.2 percent lower. ($1 = 1067.3000 Korean won)

(Reporting by Miyoung Kim; Editing by Christopher Cushing)