Brutal profit loss by LG Display

World secon display producer reported a 44 percent drop in third-quarter net profit to $244.1 million.

 The flat panel market could recover
from the second quarter of next year when oversupply eases, the chief
executive of LG Display Co Ltd said, adding that the company would
use production cuts to weather the downturn.

The global economic downturn following the financial sector crisis
will be "very difficult", said Kwon Young-soo, CEO at the
world's No.2 liquid crystal display (LCD) maker. "We assume the
worst-case scenario and plan to act accordingly," Kwon said.
"There will be output cuts naturally."

Although the number came above
expectations, analysts remain worried about the industry's outlook as
the sluggish economy hits demand for flat TVs and personal computers.