Small Q1 profit for Korea's LG Display

LG Display has reported a small profit for the first three months of the year, reflecting slackening orders from its key client, Apple, during a typically slow period for the consumer electronics market.

The South Korean company said today that its net income for the January-March period was 3.5bn won (€2.35m), compared with a net loss of 129.2bn won (£74 million) a year earlier.

Although the Korean panel giant made a turnaround from a year earlier, its profit missed market forecasts.

Analysts said LG Display probably sold fewer iPhone and iPad screens, outweighing increased panel sales to LG Electronics, its biggest shareholder.

LG Display’s first quarter sales rose 10% to 6.8tn won. Operating profit stood at 151.3bn won, compared with a 211.1bn won loss a year earlier.