LG Display reported its financial results for Q3 2020, with a net profit (of $9.8 million) - which was the company's first profitable quarter since 2018. Revenues in the quarter were $5.9 billion, up 27% from the previous quarter and up 16% from Q3 2019.
LG Display says that its turnaround was due to increased demand for IT displays and OLED displays - both OLED TV panels and flexible OLEDs for smartphones. Profitability was also assisted by the mass production that finally began at LGD's new OLED TV fab in Guangzhou. Next year LGD says it aims to ship over 7 million OLED TV panels.