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Edition: U.S. Article Comments (0) Technology LG Display flags sector recovery on steadier prices RIM studies bid for Nortel wireless patents: report Samsung eyes sale of hard-disk-drive unit: report Americans reluctant to share sex, salaries on Web "Technology can't replace God": Pope Common budget mistakes for tech startups Video: Slide's Keith Rabois: Send Me an Angel Follow Reuters Facebook Twitter RSS YouTube Read IRS offers tips to avoid mistakes on deadline day 9:43am EDT Palin returns with feisty, anti-establishment speech 16 Apr 2011 U.S. credit outlook cut by S&P on deficit concerns 11:27am EDT Citi profit falls 32 percent as bond trading weakens 11:33am EDT Philips CEO turns off TV in search of profit 9:43am EDT Discussed 83 Obama to lay out deficit plan with focus on tax, spending 82 White House warns on debt limit, says Obama regrets vote 82 Palin returns with feisty, anti-establishment speech Watched Cupless bra combats cleavage crinkle Fri, Apr 15 2011 South Korean "super gun" packs hi-tech killing power Mon, Feb 14 2011 Deadly tornadoes pound southern U.S. Sun, Apr 17 2011 LG Display flags sector recovery on steadier prices Tweet Share this By Miyoung Kim SEOUL (Reuters) - LG Display, the world's No.2 flat-screen maker, is starting to see signs of recovery in depressed TV panel prices as it forecast a return to profitability in the current quarter after reporting its second consecutive... Email Print Related News BofA profit drops as foreclosure delays hurt bank Fri, Apr 15 2011 Cost surge under new Google CEO unnerves Street Thu, Apr 14 2011 Nikkei edges higher; Isuzu soars on VW acquisition report Thu, Apr 14 2011 JPMorgan making fewer loans but profit still surges Wed, Apr 13 2011 Deficit-cutting plan boosts U.S. bonds, dollar Wed, Apr 13 2011 Analysis & Opinion What to expect from the IMF, World Bank meetings Outspoken South Korean singer taps populace sentiment Related Topics Technology » Media » iPad » Stocks By Miyoung Kim SEOUL | Mon Apr 18, 2011 6:18am EDT SEOUL (Reuters) - LG Display, the world's No.2 flat-screen maker, is starting to see signs of recovery in depressed TV panel prices as it forecast a return to profitability in the current quarter after reporting its second consecutive quarterly loss. Panel makers, led by Sharp Corp, are reducing production, after the powerful earthquake and tsunami in Japan last month, but demand from television and computer makers is too weak to absorb even lowered supplies, sending prices of large-sized LCD panels down more than one third over the past year. But the pace of decline has been easing in recent months, raising hopes that demand from TV makers has finally improved. So far, booming demand from smartphones and tablets has been a rare bright spot in the LCD market, which has been in a glut since the summer of 2010. "A meaningful recovery in the sector is not in sight yet. But panel restocking is expected to begin in late May because of seasonal demand in the third quarter," Ji Mok-hyun, an analyst at Meritz Securities, said on Monday. The positive outlook by LG Display, which kicked off earnings for major Asian LCD makers ahead of results due from Samsung Electronics and AU Optronics, bodes well for the sector as most panel makers including Samsung are widely expected to report heavy losses for January-March. "There are several signs that indicate overall price trend has now turned upside and we expect even depressed TV panel prices to rebound from the mid second quarter as TV makers are preparing to build up inventory ahead of new model launches," LG Display Chief Financial Officer Jung Ho-young told analysts. LG Display, a key panel supplier for Apple's iPhone and iPad, expects TV panel prices to stop sliding and rebound from the mid second quarter, while overall shipment volume of flat screens was likely to rise by late-teen percentage from the previous quarter. DEMAND IMPROVES "We are seeing real demand pick up and also very encouraged by strong sales data from China, although it may not be felt by the same degree across the overall panel makers...But the overall condition is improving and our positive growth guidance for both volume shipment and price is a conservative one taking into account potential disruptions in supply from Japan," said LG Display's Jung. Highlighting soft demand from TV makers, Philips Electronics said on Monday it would transfer its TV business into a joint venture with TPV Technology after reporting weaker-than-expected quarterly net profit. The Dutch consumer electronics company is one of the main clients of LG Display along with LG Electronics and Toshiba Corp. "Japan's earthquake will have a positive impact on panel supply-demand balance by curtailing production. But it is not good in terms of LCD parts supply, leading to a parts shortage. The impact is neutral," said Ji. LG Display, which competes with Samsung, Sharp and Taiwan's Chimei Innolux, said January-March operating loss was 239 billion Korean won ($220 million), worse than the consensus forecast of a loss of 123 billion won polled by Thomson Reuters I/B/E/S. But the result was broadly in line with StarMine's SmartEstimates, which places more weight on recent forecasts by top-rated analysts and expected a downside surprise of 92 percent to 235 billion won in the first-quarter operating loss. Last week, HSBC lowered its growth forecast for the global LCD TV market to below 10 percent for this year, as most households in advanced countries have already traded their bulky tube TV sets to flat-screens. 1 2 Next Technology Media iPad Tweet this Share this Link this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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