LG Display posts first profit in 2 years on phone, tablet panels

SEOUL, Oct 26:LG Display Co Ltd reported its first quarterly profit in two years on Friday as sales of its screens used in Apple Inc�s iPad and iPhone offset weak demand from TV manufacturers, the South Korean panel maker�s biggest revenue source.LG Display, which vies with Samsung Electronics Co Ltd�s panel unit for the top position in liquid crystal display (LCD) flat screens globally, reported 253 billion won ($230 million) in operating profit for its July-September third quarter.That was a tad below an average forecast for a 265 billion won profit in a poll of 13 analysts by Thomson Reuters.The profit, LG�s first after seven straight quarters of losses, compared with a 492 billion won loss a year earlier and a 26 billion won loss in the preceding three months.LG Display shares have jumped about 37 percent over the past three months, propelled by expectations for better fourth-quarter earnings as the company ties its fortunes more tightly to Apple. The benchmark KOSPI index has gained 6 percent during the same period. ($1 = 1098.2000 Korean won) (agencies)