LG Display Posts 27% Q3 Revenue Jump on Spike in Demand for Laptop Panels

Q3 revenue at LG Display increased 27% sequentially from Q2, “driven by a continuous rise in panel shipments” for laptops and tablets, due to the “growing trends of working from home and online schooling,” it said Thursday. “Strong global TV sales,” plus the start of full-scale mass production at LGD’s OLED panel plant in Guangzhou, China, also contributed to the revenue increase. LGD switched some Korea-based LCD production lines from TVs to laptop panels to “respond flexibly to customer needs and the short-term supply and demand situation,” it said. Industry shortages of laptop LCD panels and components impeded sales as the supply chain struggles to meet spiking consumer demand for notebook PCs as “essential” work-from-home and remote-learning connectivity tools, said market leaders Dell and HP in late August (see 2008280012).