LG Display posts 1st profit in 7 quarters

LG Display, South Korea’s flatscreen maker, posted its first profit in seven quarters amid increasing shipments of smartphone screen and TV panels, Reuters reported on Wednesday.

“Although market volatility will continue this year due to prolonged unstable macroeconomic conditions, we will… (be) strengthening the competitiveness of our organic light-emitting diode (OLED) businesses,” said Chief Financial Officer Sung-hyun Kim.

The company posted operating profit of 132 billion won ($98.67 million) during the October-December quarter.

This comes after the Apple supplier recorded a loss of 876 billion won the year before.

LG Display is supplying screens for Apple’s new headset Vision Pro, which is set to start sales in February.

According to analysts cited by Reuters, shipments of small and large OLED panels are both expected to increase in 2024.