LG Display said on Wednesday it posted third-quarter consolidated revenue of 6.277 trillion won and operating profit of 250.6 billion won. Revenue rose 12 percent from the previous quarter and operating profit swung to a profit from a loss.

Compared with a year earlier, results fell. Revenue declined 10 percent and operating profit dropped 42 percent. The company said this reflected reduced shipments of mid-sized LCD (liquid crystal display) products in line with a profitability-focused product portfolio strategy.

The quarterly rise in revenue was driven by seasonal peak demand. Shipments increased as large-size and mobile OLED (organic light-emitting diode) products entered the peak season. Operating profit was affected by a decline in the won-dollar exchange rate and chipflation. It improved from the previous quarter as the company expanded the share of high value-added OLED products and continued operational efficiency efforts.

EBITDA (earnings before interest, taxes, depreciation and amortisation) came to 1.2144 trillion won, with a margin of 19 percent. It rose 39 percent from the previous quarter and fell 15 percent from a year earlier. Net profit for the period was 755.6 billion won. The company said foreign-currency translation gains and losses improved sharply due to a decline in the exchange rate at period-end.

LG Display plans to strengthen a stable profit structure by advancing its OLED-focused business structure. In its small and mid-sized business, it will reinforce its market position in mobile, while boosting profitability in IT by focusing operations on high value-added products and strengthening cost competitiveness. In its large-size business, it will enhance competitiveness in its premium TV OLED product lineup while responding to customer demand with products that have price competitiveness. For monitor OLED, it will strengthen its gaming product lineup applying proprietary technology.

It is also developing technology. The company recently succeeded in developing FLIPP, a next-generation OLED patterning technology. It said it will focus on strengthening technological competitiveness based on proprietary capabilities and accumulated know-how and linking this to business performance.

Chief Financial Officer Seong-hyun Kim (김성현) said, "In the third quarter as well, amid continued uncertainty in the external management environment such as exchange rates and fluctuations in component prices, we focused on strengthening business competitiveness and improving operational efficiency." He added, "Going forward, we will continue to push for differentiated technological competitiveness and cost innovation to enhance our ability to respond to changes in the external environment and further strengthen the foundation for stable profit creation."