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LG Display, the world's No. 2 LCD screen maker, said on Thursday its notebook PC panel sales in June rose 20 percent from a year ago, suggesting strong results next week when the company posts quarterly earnings.
LG Display said in a statement notebook panel sales reached 4.06 million units last month as its newly added production line helped meet increasing demand. When including panels used in smaller "netbook" PC models, the monthly number increased to 4.5 million units.
LG did not provide figures for other recent months, but data from DisplaySearch showed its notebook panel sales have grown rapidly from a trough of 2.38 million units in January.
The South Korean company, which competes with global No. 1 Samsung Electronics, is expected to swing back to a profit in the second quarter after suffering sharp losses in the prior two quarters amid the global downturn. Its April-June earnings announcement is due July 16.
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Robust sales of flat-screen TVs and shortage of glass used in liquid crystal display (LCD) panels have been leading the sector's faster-than-expected recovery.
BNP Paribas on Thursday upgraded its rating on LG Display to "hold" from "reduce", saying a more severe-than-expected glass shortage led to faster gains in panel prices and bolstered earnings forecasts.
BNP set the target price on LG Display at 32,000 won per share. The company's shares traded at 34,600 won at 0226 GMT, up 0.6 percent and in line with the broader market.
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