LG Display does rather well

old-school-tvTelly-maker LG Display has reported a record fourth-quarter operating profit of $778.33 million due to a pickup in TV panel prices.

The profit was caused by the upward trend of panel prices and a favourable foreign exchange rate.

Chief Financial Officer Don Kim said that the upwards trend of panel prices is anticipated to continue thanks to the low inventory level in the industry and the trends towards large-size panels.

The price of television LCDs larger than 32 inches has been rising for 10 months, according to data provider WitsView last week.

Analysts said the rise was mainly due to supply-side factors such as rival Samsung’s shutdown of an LCD fabrication plant last year, causing a tight supply-demand environment.

The company said its October-December operating profit rose 1,392 percent from the same period previous year, beating what the cocaine nose jobs of Wall Street had predicted.

Revenue for the quarter rose 18 percent from a year earlier, LG said.