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LG Display posts worse-than-expected Q3 loss

LG Display posts worse-than-expected Q3 loss
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First Published: Thu, Oct 20 2011. 12 24 PM IST

File photo Bloomberg
File photo Bloomberg
Updated: Thu, Oct 20 2011. 12 24 PM IST
Thursday, as tepid demand for TVs and PCs hit panel prices and one-off losses weighed.
The South Korean company, which vies with home rival Samsung Electronics Co for the top position in LCD flat screens globally, said its July-September operating loss was 492 billion won ($434 .6 million ) , versus an average forecast of a 196.5 billion won loss in a poll by Thomson Reuters I/B/E/S.
File photo Bloomberg
That marked its fourth consecutive quarterly loss and compared with an operating loss of 48 billion won in the previous quarter and an operating profit of 182 billion won a year ago.
LG Display is a key panel supplier for Apple Inc’s popular iPad and iPhone. Apple on Tuesday reported quarterly results that missed expectations for the first time in years, blaming rumors of the new iPhone for hurting demand in the September quarter.
Shares in the panel maker ended down 0.22% before the results, in a wider market that was down 2.74 %.
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First Published: Thu, Oct 20 2011. 12 24 PM IST