LG Display, the South Korean firm that supplies components to Apple, said that it expects strong final quarter earnings due to the growth in shipments to a key customer.
The firm said that the revenue boost would be generated from sales of medium to small-sized panels.
According to analysts Apple is LG Display’s largest customer by revenues.
But LG Display remained tight-lipped on the name of the customer that would be bolstering its performance in the final three months of the year.
“The upwards trend of panel prices is expected to continue in the fourth quarter… Profits in the fourth quarter are anticipated to further improve significantly,” said LG Display’s finance chief Don Kim.
Panels and display sales volumes are measured in surface area terms. LG Display said third quarter surface area shipments had grown nine per cent on the previous quarter. It expects surface area sales quantities to remain at similar levels in the final three months of the year.
Research by IHS Markit shows that panel prices for products such as smartphones, televisions and monitors have been on the up in recent months. Average prices in certain categories have risen more than 10 per cent during October.