SEOUL-- South Korea's tech player LG Display Co. said Tuesday it swung to the black in the second quarter from a year earlier on diversified product line-up.
Net profit came to 736.6 billion won (US$660 million) in the April-June period, compared with a net loss of 83.9 billion won posted a year earlier, LG Display said in a regulatory filing.
Operating profit also climbed sharply to 804.2 billion won in the April-June period from an operating income of 44.3 billion won in the year earlier period. Sales advanced 13 percent to reach 6.6 trillion won over the cited period.
By sector, TV panels accounted for 46 percent of its revenue, followed by the mobile and monitor sectors with 22 percent and 17 percent, respectively. Panels for laptops and tablet PCs accounted for 15 percent.
The company said it was able to post profits despite falling seasonal demand on the back of a strong product line-up.
Market watchers said LG Display is expected to post 800 billion won-level operating profit for the third and fourth quarters as well, allowing the company to post a profit of 3.5 trillion won for all of 2017.
The expected annual bottom line will set a fresh high by beating the previous record of 1.6 trillion won posted in 2015.
Shares of LG Display closed at 32,800 won Tuesday, down 1.35 percent from the previous session. The earnings results were announced after the market closed.
Source: Yonhap News Agency