LG Display: Strong Q2, As LCD Display Demand Rebounds

LG Display (LPL) posted a sharp rebound in the second quarter, as demand for LCD displays improved dramatically in the quarter.

The Korean display maker posted Q2 sales of 4.89 trillion Korean won, up 33% from 3.67 trillion in Q1, and ahead 16% from the 4.21 trillion posted a year ago. Net profit was 302 billion won, up from a loss of 255 billion in Q1, but off from 889 million a year ago.

LG Display said it shipped 5.01 million square meters of display area in the quarter, up 33% sequentially. Factory utilization in the quarter was near 100%. Days of inventory is below two weeks. ASP per meter of display area shipped was up 11% sequentially, while cost of goods sold was down 5% from Q1.

The company said it expects total display area shipments in Q3 to increase by a mid-teens percentage from Q2; LG Display said it expects pricing to “climb gradually” in the period.

LPL today is up 13 cents, or 0.9%, to $14.13.