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Biz News Korea(Eng)
LG Display stock rallies on strong 4Q earnings expectations
- Collected
- 2016.12.13
- Distributed
- 2016.12.14
- Source
- Go Direct
According to financial analysts at FN Guide Monday, LG Display is estimated to have raked in 650 billion won ($557 million) in operating profit during the October-December period, up 970.5 percent over the same period of last year. It will likely end the year with an annual operating income of more than 1 trillion won for the fourth year in a row.
At 1:00 p.m. Tuesday, shares of LG Display were up 2.9 percent at 30,400 won, gaining 16 percent from 26,200 won closing of Nov.9.
The average selling prices of LCD panels have gained more than 20 percent from the previous quarter. Moreover, reduced capacity after Samsung Display decided to close down its fab dedicated to turn out 2 million to 3 million 42-inch LCD TV panels by the end of this month to shift the facility to bump up output of organic light-emitting diode (OLED) panels has sent set players fighting to secure supplies for the year-end seasonal peak. The two Korean display makers took up 52.7 percent of global panel supplies as of the end of September. LG Display that supplies nearly 80 percent of the TV panels in 42 inch or bigger will likely benefit most from Samsung Display’s phase-out from LCD business.
By Lee Yong-gun
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]