It's earnings week, well it's more like a month now. Last week we had Google's earnings, right in the middle of all the Nexus news and the new version of Android being announced. Yesterday we had Verizon and next week is T-Mobile. But today, it's all about LG. Well it's actually LG Display right now. As some of you may know, LG makes their own displays. So the displays you see on most of their smartphones and tablets are ones that they make themselves. Much like Samsung makes their own AMOLED displays, in fact they are the only AMOLED manufacturer out there.
So let's get on with the Q3 earnings for LG Display. Because they look pretty good. Revenues for the quarter increased by 9%. They were 6,547 billion KRW, that's up from 5,979 billion KRW in the second quarter and a slight decrease from the third quarter of 2013. The operating profit was 474 billion KRW and that's a quarter-on-quarter increase of 191%. Net Income for the quarter was 354 billion KRW and that's up from 256 billion KRW from the second quarter of this year. Compared to last year, where they saw a net income of 240 billion KRW, that's also an increase.
Next question is, how did LG put together these types of increases? Well they build displays for TV's, smartphones, tablets, monitors and notebooks. TV's is obviously the major player here, but smartphones also saw a pretty big increase. About a 300 billion KRW increase in displays for smartphones. Which means that they are selling a ton of smartphones now. We'll have to wait for the LG Mobile earnings to see just how well their phones have been selling, but I know I've been seeing more and more phones around that are made by LG which is a nice change from seeing from Samsung everywhere.
How many of you are surprised by these increases from LG Display this past quarter? Let us know in the comments below.