Korean LCD maker LG Display announced yesterday that they recorded a profitable fourth quarter as a result of price hikes and increased demand for flat-screen TVs. In a regulatory filing, the company revealed that net profits for the October-December period reached 478 billion won, while for the same period last year they recorded a 684 billion won loss. Sales figures stood at 6.08 trillion won, a whopping 46% increase when compared to last year.
LG Display chief financial officer Choi Hyung-suk said that they estimated that the demand for LCD panels in the first quarter of 2010 will mirror that of the previous quarter. Speaking at an investor meeting, the financial adviser said that TV makers will make sure that the panels are restocked before the Chinese lunar new year and the major sports events of the coming year and that demand will further increase in the emerging markets due to the declining LCD TV prices.
