LG Display reports stronger profit on iPhone demand, rising panel prices

South Korea’s LG Display Co Ltd reported its highest quarterly profit in over three years on Wednesday, with help from increased shipments of Apple Inc’s new iPhones. The Apple supplier posted an operating profit of 685 billion won ($622 million) in the fourth quarter of 2020, compared with loss of 422 billion won in the same period a year earlier.

It was the display panel firm’s highest quarterly profit since the second quarter of 2017, and soundly ahead of market expectations for a 286 billion won profit, according to a Refinitiv SmartEstimate derived from 12 analyst estimates.”As the global work-from-home situation continued in the fourth quarter, demand for TV and IT products remained strong,”LG Display said in a statement.