AN screen maker LG Display has provided the latest indication of a slowdown in sales of iPhones, reporting its lowest quarterly profits for a year.
The firm, one of a number to supply screen panels for the iPhone and iPad, relies on Apple for around a third of its revenues, making it especially vulnerable to fluctuations in the US company’s fortunes.
Apple is expected to report its first year-on-year fall in quarterly profits for a decade this evening amid investor concern that its best days are behind it, and LG Display is just the latest company to hint at a slowdown.
Cirrus Logic, which provides audio chips for the iPhone and iPad, posted disappointing sales last week. The news sent shares in Apple to their lowest value for 16 months and knocked it off its perch as the world’s most valuable company.
LG Display said yesterday that operating profits had fallen to 151bn won (£88m), its lowest level since it returned to the black in the second quarter of last year.
However, TV screen sales were buoyed by growth in China.