LG Display on Monday reported a lower-than-expected operating profit because flagging demand for iPhones and iPads have hurt sales of its LCD screens. LG Display (LPL) gets about 30% of its revenue from Apple (AAPL), Reuters said.
Apple is due to report its fiscal second-quarter financial results on Tuesday. Wall Street is expecting Apple to post an 8% increase in sales year over year for the March quarter and an 18% decline in earnings per share. Here’s IBD’s preview.
In a research note Sunday, Citigroup Capital Markets analyst Glen Yeung said Apple’s next smartphone, the iPhone 5S, will be delayed to August or September from July because of “volume production issues,” CNet reported. Last week, Jefferies analyst Peter Misek said the iPhone 5S as well as the rumored low-cost iPhone likely would be delayed.
Earlier this month, KGI Securities analyst Ming-Chi Kuo said issues with coating materials for the fingerprint sensor said to be included on the iPhone 5S were likely to push its release to September or later, vs. a planned June or July launch, MacRumors reported.
Apple’s low-cost iPhone, and a second-generation iPad mini, will launch later than market consensus expects, Kuo said, according to Apple Insider.