LG Display profits in third quarter on Apple demand, panel price boost

South Korea’s LG Display Co Ltd on Thursday reported a profit for July-September, ending a six-quarter run of loss, helped by shipments for Apple Inc’s new iPhones and stay-at-home trends lifting panel demand for TVs and laptops.

The display maker posted operating profit of 164 billion won ($144.77 million) for the third quarter, versus a loss of 437 billion won in the same period a year earlier.

The result compared with the 64 billion won Refinitiv SmartEstimate derived from 17 analyst estimates.

Revenue rose 16% to 6.7 trillion won, LG Display said in a regulatory filing.

Prices for LG Display’s main product, 55-inch liquid crystal displays (LCDs) for television sets, climbed 20% in the third quarter from a year earlier, showed data from WitsView, part of research provider TrendForce.