LG Display Q1 profit drops 93% on falling panel prices

LG DISPLAY

27/04/2022 05:49

SEOUL, April 27 (Reuters) - South Korea's LG Display Co Ltd
 034220.KS  on Wednesday reported a 93% plunge in first-quarter
profit as pandemic-driven demand for TVs, smartphones and
laptops dropped off, causing sharp declines in panel prices. 
    Operating profit at the Apple Inc  AAPL.O  supplier came in
at 38 billion won ($30 million) for the January-March period,
down from 523 billion won a year earlier. 
    It was the lowest quarterly operating profit since the
second quarter of 2020 and missed an average forecast of 182
billion won from nine analysts polled by Refinitiv
SmartEstimate. 

    ($1 = 1,263.0100 won)

 (Reporting by Joyce Lee; Editing by Tom Hogue)
 ((joyce.lee@tr.com;))