South Korea's LG display company reported on Wednesday that its third-quarter operating profit more than tripled from 164 billion won a year earlier to 529 billion won ($449 million), as demand for televisions during the outbreak pushed up the price of large-screen flat-panel displays.
The company said third-quarter revenue rose 7.2 per cent to 7.2 trillion won.
The price of 55-inch liquid crystal display (LCD) panels, a pillar of TrendForce, rose about 57 per cent year-on-year in the third quarter, according to market data from LG Display's WitsView.
But analysts say the pace of growth is likely to slow further this quarter as more people are vaccinated and spend less time watching TV, supply is rising, demand is weak and the pace of growth has begun to slow.
"due to the shortage of parts in the industry, panel shipments are expected to increase by about 10 per cent in the fourth quarter compared with the third quarter, while the price of LCD TV panels is expected to remain on a downward trend," LG said in a statement.