LG Display posts 3rd consecutive quarterly loss on weak panel demand

FILE PHOTO: People visit the LG display at the international consumer technology fair IFA in Berlin, Germany September 2, 2022. REUTERS/Lisi Niesner

SEOUL (Reuters) - South Korean display panel maker LG Display posted on Friday its third consecutive quarterly loss, as global demand for electronic gadgets such as smartphones, computers and televisions remain depressed amid an uncertain economic outlook.

The Apple Inc supplier posted a 876 billion won ($711.13 million) operating loss for the October-December quarter, compared with a profit of 476 billion won in the same period a year earlier.

It missed an average forecast of a 797 billion won loss from 10 analysts polled by Refinitiv SmartEstimate, which is weighted toward analysts that are more consistently accurate.

($1 = 1,231.8400 won)

(Reporting by Joyce Lee)

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