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LG Display logs first profit in more than 1 year

SEOUL, SOUTH KOREA (AP) - LG Display Co. returned to profit for the first time in over a year as strong demand for the iPhone 5 and tablet computers increased sales of its display panels.

The South Korean company earned 158 billion won ($144 million) in the July-September third quarter, turning around from a loss of 688 billion won a year earlier. It was its first quarterly profit since the April-June quarter of 2011.

The result fell short of analysts' forecasts, according to financial information provider FnGuide.

LG Display's third-quarter operating profit of 253 billion won was its first operating profit in two years. Revenue totaled 7.6 trillion won.

Analysts said the supplier of display panels for Apple's iPad and iPhone benefited from launches of new mobile products.

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