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LG Display has posted a record operating profit for the first quarter of this year. In a briefing on Thursday, LG Display said its sales totaled W4.036 billion (US$1=W976), operating profit was W881 billion, and net profit was W717 billion during the January-to-March quarter.
The first quarter is normally a low-demand season for LCDs. Nonetheless LG Display managed a record quarterly operating profit, up 1 percent from the previous quarter and a major turnaround from a loss of W208 billion in the same period last year.
First quarter sales fell 7 percent from the previous quarter, but swelled 44 percent compared with the first quarter of last year.
Experts speculated that the company's earnings were boosted as Chinese consumers rushed to replace their TVs ahead of the Beijing Olympics. Earnings are expected to increase further as U.S. consumers buy digital TVs to keep up with a nationwide shift to purely digital TV broadcasting slated for February 2009.
(englishnews@chosun.com )
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