Seoul: LG Display Co. reported a net profit of 1.2 billion won (US$875,641) for the third quarter, marking a significant turnaround from a loss of 338.1 billion won in the same period last year. This shift highlights the company’s efforts to regain profitability amid challenging market conditions.
According to Yonhap News Agency, LG Display’s operating profit for the July-September period reached 431 billion won, compared to a loss of 80.6 billion won in the previous year. The company’s sales also saw a 2 percent increase, totaling 6.95 trillion won.
The reported operating profit was 3.0 percent lower than the average estimate from a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. However, the estimate for net profit was not available, making the precise financial expectations unclear.