On Monday, LG Display reported earnings that continue to point to a weakening demand for Apple products.
LG has just revealed its smallest profits since it returned to profitability during the second quarter of 2012. The story that today's earnings report tells is that there's a strong potential for weakened demand for iPhone and iPad screens in the 2013 mobile device market.
Analyst estimates suggest that Apple provides approximately 30 percent of LG Display's revenue today, so it's easy to infer that LG's earnings could be impacted by waning consumer interest in iDevices. For example, Reuters confirms, LG Display's sales of tablet and smartphone panels, which primarily go to Apple, accounted for 27 percent of LG Display's total screen shipments in Q1 2013. That's down from 31 percent in the fourth quarter of 2012.
Jay Yoo, an analyst at Korea Investment & Securities, estimated before the results announcement that LG Display's panel shipments for the iPhone 5 and the latest iPad had fallen 42 percent and 66 percent, respectively, from the prior quarter as Apple struggles with slowing sales growth.