LG Display has seen its third-quarter net income leap an outstanding 4,067.5 per cent from the same time last year to A$525.85 million, driven by strong OLED demand.

Operating income jumped 221.8 percent to A$600 million in the September quarter, as sales grew 7.2 per cent year-on-year, to A$8.18 billion.

Despite this brilliant showing from Korea’s largest panel-display marker, the company is expecting a muted fourth quarter, due to declining LCD prices, and increased competition from Chinese rivals.

“As LCD panel prices keep going down, the company is expected to speed up its portfolio restructuring efforts to put more focus on high-margin products,” Kim Chan-woo, a researcher at Shinhan Investment Corp, wrote in his latest report, explaining how OLED business should offset the declines in LCD revenue.