Hey, remember Monday? Remember how Bloomberg said that LG Display’s profits were a miss among analysts because of poor Apple sales? Well, I think we found out where those sales went:
LG’s profit fell 22 percent year-on-year as a stagnant TV market offset the company’s resurgent mobile business. Despite shipping 10.3 million smartphones in Q1 2013 in what the company describes as its best performance since entering the market, low sales of plasma TVs meant that operating profit fell to 350 billion won ($322.88 million) from 448 billion won ($400 million) a year ago.
What’s to bet LG’s television business uses LG Display panels? That’s a stupid question, obviously. Of course they do, and of course Apple didn’t cause LG Display to falter.