Seoul, South Korea — Increased sales of LCD panels for TVs and displays for Apple mobile devices help LG Display reach its highest quarterly profit in almost four years, the company reported Wednesday.
LG Display said operating profit rose to $580 million for its fourth quarter (October through December period) from a year earlier.
In the period, LG Display said revenue increased 18 percent over the same period last year and 27 percent from the prior quarter.
Net income in the fourth quarter of 2014 rose 10 percent from the prior quarter to $357 million and registered a year-on-year increase of 448 percent.
LG Display recorded an annual net income of 917 billion Korean won in 2014, a year-on-year increase of 119 percent from 2013.
LG Display said it expects panel shipments to fall slightly in the January to March period, while the average selling price will remain stable.
“TFT panels for TVs accounted for 36 percent of revenue in the fourth quarter of 2014, mobile device panels for 23 percent, tablet PCs 19 percent, monitors 14 percent, and notebook PCs 8 percent,” the company said in a statement on the results.
