Driven by rising display panel prices and a surge in demand for pre holiday mobile devices, Korea Companies LG Display's operating profit increased by 80% in the third quarter, exceeding market expectations.
LG Display also expects that the current quarter's demand for display panel will ring up.
In the third quarter from July to September, the operating profit of LG Display was 586 billion won (about 519 million US dollars). According to Thomson Reuters data, this is better than the average of 15 analysts expected 567 billion won.
Last year, strong TV market demand drove the price of display panel soaring, helping LG Display achieve record profit level in the first quarter of 2017. But this year, the price of display panel began to decline.
According to data provider WitsView data show that the price of 43 inches LCD panel used in TV began to decline in May this year, and accelerated down from the end of the second quarter.
However, LG Display said it expects the panel price decline to slow down in the fourth quarter.