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July 25, 2017This post was originally published on this site
SEOUL (Reuters) – South Korea’s LG Display Co Ltd (034220.KS) said on Tuesday it will invest 7.8 trillion won ($7 billion) in production facilities to make both large and small organic light-emitting diode (OLED) panels.
LG Display said in a separate filing it will also increase capacity for large OLED panels in China through a joint venture.
It also said second-quarter operating profit soared to 804 billion won ($721 million) from 44.4 billion won a year earlier.
That compared with an average forecast of 862 billion won from a Thomson Reuters I/B/E/S survey of 17 analysts.
($1 = 1,114.4200 won)
Reporting by Joyce Lee; Editing by Edwina Gibbs