LG Display has reported that its revenues in the first quarter of 2015 decreased by 16% to KRW7.022 trillion (US$650 million) from KRW8.342 trillion in the fourth quarter of 2014 and increased 26% from KRW5.588 trillion in the first quarter of 2014.

Operating profit in the first quarter of 2015 recorded KRW744 billion, an on-quarter increase of 19% from an operating profit of KRW626 billion and an on-year increase of 689% from the operating profit of KRW 94 billion in the first quarter of 2014.

Net income in the first quarter of 2015 amounted to KRW476 billion, an on-quarter increase of 22% from KRW389 billion in the fourth quarter of 2014 and an on-year improvement from a net loss of KRW 82 billion in the first quarter of 2014.

Additionally, LG Display said although the first quarter of the year is normally regarded as an off-season, the company was able to achieve higher-than-expected earnings results. This is mainly due to favorable market trends for large-size TV panels based on stable demand continuing from the fourth quarter of 2014. In addition, the company's continuous cost reduction efforts contributed to the results.

TFT-LCD panels for TVs accounted for 41% of revenues in the first quarter of 2015, mobile device panels for 25%, tablets and notebook PCs 17%, and monitors 17%, said LG.