Demand for flatscreen TVs pushes LG to profit
SOUTH Korea’s LG Display returned to profit after two quarters of losses, spurred by robust demand for flat-screen TVs that is expected to power the industry through most of the year.
The LCD sector, one of the few bright spots in the weak global technology sector, is benefiting from the popularity of liquid crystal display (LCD) TVs in North America and China, and makers are scrambling to restart plants and secure raw materials.
LG Display, which competes with such rivals as Samsung and Taiwan’s AU Optronics, posted a 302bn won (£145.2m) net profit in the second quarter, beating forecasts.
The figure compares with a net profit of 759bn won in the year-ago period but marks a rapid turnaround from a 255bn won net loss posted in the January-March quarter. Operating profit was 218 bn won.