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LG Display's earnings suggest stronger iPhone 8 sales

Published 10/25/2017, 09:07 AM
© Reuters.  LG Display's earnings suggest stronger iPhone 8 sales
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  • LG Display’s (NYSE:LPL) Q3 report hints at stronger sales of Apple’s (NASDAQ:AAPL) iPhone 8 than estimated.
  • The iPhone 8 supplier and world’s largest LCD panel provider reported an 80% growth in profits in the quarter.
  • LG CFO Don Kim brushed aside questions about weak demand by saying client demand was strong in Q3.
  • The company forecasts LCD shipments increasing by “mid-single digit percent” in Q4.
  • Analysts predict that OLED panels will soon replace LCDs for mobile devices. Samsung (KS:005930) supplied the OLEDs for the iPhone X, but Apple is working with LG to become a secondary supplier by 2019.
  • LG Display shares are up 4.09% premarket.
  • Previously: OLED panel revenue could grow 57% to $23.2B this year (Oct. 16)
  • Previously: LG Display reports Q3 results (Oct. 25)
  • Previously: Apple Watch discounts for life insurance holders; iPhone 8 underperforming 6S (Oct. 23)
  • Now read: Editors' Picks Daily - October 12, 2017


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