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LG Rakes In $915 Million For Display Tech

LG’s Display division has reported a record quarterly profit of 1.03 trillion won (approximately $915.08 million US) for the January-March period, reflecting increased demand for the company’s high-end displays.

The company also reported a 17.9% bump in revenue.

This trend has led to tightening in the supply for larger sized panels – both OLED and LCD – has pushed the prices of said display panels upwards, to the benefit of companies like LG.

That said, both LG Display execs and analysts are cautious about how much higher prices can go.

According to LG Display CFO Don Kim, “panel shipments by area in the second quarter of 2017 are expected to reach a similar level as the first quarter.”

In addition, the shift by mobile phone vendors towards OLED displays is also expected to have an impact in the coming years.

Although its parent company was one of the first to market with OLED TVs, LG Display only accounts for less than 5% of the global supply chain for panels using the new display technology.

Reports say that one of LG Display’s biggest clients – Apple – recently cut a deal with one of its biggest rivals – Samsung – to supply over 70 million OLED panels for its next iPhone.

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