AfterDawn: Tech news

LG Display see smaller profit due to falling sales of Apple devices

Written by Andre Yoskowitz (Google+) @ 23 Apr 2013 15:09

LG Display see smaller profit due to falling sales of Apple devices LG Display, the second biggest maker of flat-panel displays, posted a profit this quarter that missed analyst expectations.
The company reported a profit of just $3.1 million, compared to expectations of $68 million, for the Q1.

A weaker currency, mixed in with falling sales of displays sold to Apple, led to the disastrous quarter.

LGD is not the first to cite Apple in its reports. Hon Hai, the parent of Foxconn, and the biggest manufacturer of iOS devices, reported their largest revenue decline in 13 years this quarter. Cirrus Logic, another maker of Apple chips, reported a huge amount of oversupply.

Apple is set to report earnings tonight, and is expected to see its first quarter of smaller profits in almost a decade.

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