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LG Display, a leading innovator of TFT-LCD technology, reported today unaudited earnings results based on consolidated K-IFRS (International Financial Reporting Standards) for the three-month period ending 30 September, 2012.

• Sales in the third quarter of 2012 increased by 10% to KRW 7,593 billion from KRW 6,910 billion in the second quarter of 2012, and increased by 21% compared with KRW 6,269 billion in the third quarter of 2011.
• Operating profit in the third quarter of 2012 was KRW 253 billion. This compares with a loss of KRW 26 billion in the second quarter of 2012 and operating loss of KRW 492 billion in the third quarter of 2011.
• EBITDA in the third quarter of 2012 was KRW 1,441 billion, an increase of 39% from KRW 1,039 billion in the second quarter of 2012 and a year-on-year increase of 216% from KRW 456 billion in the third quarter of 2011.
• Net income was KRW 158 billion in the third quarter of 2012 compared with net loss of KRW 112 billion in the second quarter of 2012 and net loss of KRW 688 billion in the third quarter of 2011.

LG Display achieved record high quarterly sales and a turnaround mainly through an expanding portion of differentiated specialty products and some seasonal demand growth

“Although the macro-economic environment has been continually challenging, LG Display accomplished a turnaround and record high in quarterly sales through the strength of its differentiated specialty products such as FPR 3D, high resolution monitor panels and AH-IPS panels for smart devices,” said Dr. Sang Beom Han, CEO of LG Display. “With a focus on future display products such as ULTRA HD TV, OLED TV and plastic OLED, we will continue to strengthen our leadership in the industry and maximize customer value.”

The company shipped a total of 9.17 million square meters of net display area in the third quarter of 2012, an increase of 7% quarter-on-quarter.

TFT-LCD panels for TVs, monitors, notebook PCs, tablet PCs, and mobile applications accounted for 47%, 16%, 13%, 15% and 9%, respectively, on a revenue basis in the third quarter.

With KRW 2,500 billion of cash and cash equivalents and 22% of net debt to equity ratio as of September 30, 2012, the financial structure of the company remains sound and stable.

Outlook

The following expectations are based on information as of October 26, 2012. The Company does not expect to update its expectations until next quarter’s earnings announcement. However, the Company reserves the right to update its full business outlook, or any portion thereof, at any time and for any reason.

“In the fourth quarter, LG Display’s profitability will continue to improve based on expanded sales of high-end specialty products as shipments for new smart devices increase in earnest,” said Mr. James Jeong, CFO of LG Display. “LG Display’s total display area shipment is anticipated to increase by a high-single digit percentage compared to the third quarter. Also overall prices will remain stable while fluctuations are expected for some products.”

Earnings Conference and Conference Call

LG Display will hold a Korean language earnings conference on October 26, 2012, at 4 p.m. Korea Standard Time at the Auditorium (B1), Twin Towers, East Wing, Yeouido, Seoul, Korea. An English language conference call will follow at 9:00 p.m. Korea Standard Time, 8:00 a.m. EDT and 1:00 p.m. GMT. The call-in number is +82 (0)31-810-3061 both for callers in Korea and callers outside of Korea. The confirmation number is 9999#. Corresponding slides will be available at the Investor Relations section of the LG Display web site: www.lgdisplay.com.

Investors can listen to the conference call via the Internet at www.lgdisplay.com. To listen to the live call, please go to the Investor Relations section of the web site at least 15 minutes prior to the call to register and install any necessary audio software.

For those who are unable to participate in the call, a replay will be available for 30 days after the call. The call-in number is +82 (0)31-931-3100 both for callers in Korea and callers outside of Korea. The confirmation number for the replay is 109461#. Please receive your personal pincode prior to the conference call at http://pin.teletogether.com/eng; please insert 9999 on the main page to receive a personal pincode.