Seoul, South Korea - LG Display reported that net profits almost doubled during the fiscal third quarter based on higher demand for its LCD panels.

For the quarter, ended Sept. 30, net income was $482 million, up from the prior year's third-quarter profit of $254 million.

Sales also grew dramatically during the quarter, to $5.15 billion, up from the prior year's fiscal third-quarter sales of $3.33 billion.

LG Display believes that panel prices will fall in the fourth quarter, but the drop will be slight, according to various online reports.