Drop In Phone, TV Sales Halves Profit At LG Display
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2022-04-27 HKT 13:41
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South Korea's LG Display Co Ltd on Wednesday reported a 93 percent plunge in first-quarter profit as pandemic-driven demand for TVs, smartphones and laptops dropped off, causing sharp declines in panel prices.
Operating profit at the Apple supplier came in at 38 billion won (US$30 million) for the January-March period, down from 523 billion won a year earlier.
It was the lowest quarterly operating profit since the second quarter of 2020 and missed an average forecast of 182 billion won from nine analysts polled by Refinitiv SmartEstimate. (Reuters)
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