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LG issues profit prophecy

by on17 October 2013

Doom, doom all doomed

LG Display warned that fourth-quarter profit will not match the third due to falling TV panel prices. LG hopes to counter that downtrend by pushing out bigger-ticket products such as ultra high-definition panels.

The outfit is not the only one to suffer from a fall in television set sales. New technology that could spark a demand cycle has been constrained by production challenges. LG Display chief financial officer James Jeong told analysts that it'll be difficult to expect panel prices to rebound any time soon, but their rate of decline is likely to slow down. It's inevitable that LG operating profit will decline in the fourth quarter, he said. 

TV displays generated 44 percent of revenue in July-September compared with 47 percent in the same period a year earlier, LG Display said in a statement on Thursday. Mobile telephone and tablet computer displays yielded 25 percent from 24 percent.

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