LG Display has just announced its financial results for the third quarter of this year. These results apply for the three-month period ending with September 30, in case you were wondering, and the results are based on consolidated K-IFRS (International Financial Reporting Standards). That being said, LG has announced that its revenues for the third quarter of this year increased by 4 percent to KRW 6,973 billion ($6.02 billion), while LG Display’s revenue was KRW 6,724 billion ($5.96 billion) in the third quarter of last year. If we compare the company’s revenues with the results from the second quarter of this year, we will see an increase of 5 percent, as LG Display’s revenue in Q2 was KRW 6,629 billion ($5.88 billion).
Now, as far as the company’s operating profit is concerned, LG Display recorded KRW 586 billion ($519 million) in profit for the third quarter of this year, which is an 81 percent increase compared to the same period of last year, as the company’s operating profit in Q3 2016 was KRW 323 billion ($286 million). Now, the company’s operating profit in Q2 this year was KRW 804 billion ($713 million), which means that its Q3 operating profit increased by 27 percent compared to the previous quarter. LG Display also shared its net income for the third quarter of this year, by disclosing that its net income was KRW 477 billion ($423 million) for the third quarter of this year, which is a whopping 152 increase compared to the same period last year, while the company’s net income rose 35 percent compared to Q2 this year. Now, it’s also worth noting that this is LG Display’s 22nd straight quarterly operating profit.
LG Display said that panels for TVs accounted for 40 percent of the company’s revenues in the third quarter of 2017, while mobile devices sit at 27 percent. Tablets and notebooks accounted for 17 percent of the company’s revenue in Q3 2017, while desktop monitors contributed with 16 percent. LG Display has actually managed to increase OLED TV panel shipments, as the company expanded its OLED production capacity, even though the display industry is stagnating, says LG. LG Display also notes that its Wallpaper OLED and Crystal Sound OLED displays have also been quite popular in the market this year.