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LG Display reports strong Q4 profit on iPhone demand, rising panel price

SEOUL, Jan 27 (Reuters) - South Korea’s LG Display Co Ltd on Wednesday reported a market-beating profit for October-December, its second consecutive quarterly profit, helped by increased shipments for Apple Inc’s new iPhones and strong TV demand.

The display maker posted an operating profit of 685 billion won ($622.16 million) in the fourth quarter of 2020, compared with a loss of 422 billion won in the same period a year earlier.

The result beat expectations for a 286 billion won profit, according to a Refinitiv SmartEstimate derived from 12 analysts’ estimates.

$1 = 1,101.0000 won Reporting by Joyce Lee and Heekyong Yang Editing by Chris Reese

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