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 oversupply 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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