What you need to know
- LG has reported earnings of $622 million for Q4, the biggest quarterly profit in three years driven in part by shipments of the iPhone.
Lg has today reported bumper Q4 earnings and its biggest profit in three years thanks to sales and demand for the iPhone 12.
From Nikkei Asia:
As the report notes, that's LG's highest quarterly profit since the second quarter of 2017, and well ahead of market expectations. In a statement, LG stated that the global work-from-home situation had continued to drive strong demand for TV and It products. Shipments of OLED panels rose for both smartphones and TVs, and earnings were buoyed by full-scale production at its OLED plant in Guangzhou.
The report notes how increased OLED panel shipments for iPhone 12 and higher LCD prices have also helped LG.
Nikkei notes recent Counterpoint data suggesting iPhone shipments in Q4 are likely up some 21% compared to last year. It is expected this strong demand and performance will also help LG in the coming quarter.
The news comes just hours ahead of Apple's own earnings call, where it is expected to post quarterly revenue in excess of $100 billion for the first time ever. From recent reports:
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Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.
Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple. Follow him on Twitter @stephenwarwick9
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