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Decline in LG Display profits because of Apple

by on23 April 2013 1251 times
LG Display

LG Display announced operating results for the first three months of the year and they are worse than in the previous quarter.

As the main reason for poor business they blame the decrease in orders from Apple, which makes about 30% income of the company. These results are yet another indicator of fall of global demand for Apple's devices, which directly lowered the value of the shares of many Apple suppliers. Apparently shipments of display panels for iPhone 5 fell for 42%, while at the same time shimpents for iPad 4 also fell for huge 66%.

In the first quarter, LG Display has reported a profit of $135 million, which is far better than last year's loss of about $189 million, but still a decrease of 74% compared to the previous quarter. At the same time the total revenues rose 10% from a year before to 6.1 billion dollars.

[Ed - We are pretty sure there is more to this than just reduced orders from Apple. However it does not hurt to throw some mud at you competition if you are having a bad day too. By making this statement LG can also how that Apple is not doing so well. The simple statement is sure to add to concerns that some investors have in Tim Cook and Apple. It was a smart move...]

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Last modified on 02 May 2013
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