LG Display foots bill of falling prices

SEOUL, South Korea: LG Display Co, the world's second-largest manufacturer of thin panels used in flat screen televisions, said second-quarter net profit fell 60 percent from last year amid a decline in prices.

LG Display earned 302 billion won ($237 million) in the three months ended June 30, the company said in a statement yesterday. It posted net profit of 759 billion won in the same period in 2008 and a loss of 255 billion won in the first three months of this year.

Sales rose 16 percent to a quarterly record 4.89 trillion won from 4.21 trillion won last year.