LG Display, the world's second-largest flat panel maker, yesterday reported record earnings in the third quarter owing to strong demand from China, but warned that the industry could face modest over-supply in coming months.
LG is the first of the Asian flat-screen makers to report earnings this season. Net profit at LG Display almost doubled to Won559bn ($483m) in the three months to October from the same period a year earlier , while operating profit almost quadrupled to Won904bn. Sales rose 55 per cent to Won5,974bn.
The robust results indicate that the sector is on the way to a full recovery thanks to Beijing's stimulus package, which has encouraged rural Chinese consumers to buy new consumer electronics goods.
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