SEOUL (Reuters) - Shares of South Korea's LG Display (KS:034220) slumped as much as 6 percent on Friday and were on track to snap a four-day winning streak despite the widely anticipated launch of key client Apple Inc's (O:AAPL) new iPhone next month.
IM Investment analyst Lee Min-hee said worries about weaker global television demand in the second half of the year may be weighing on the stock price, noting that shares of LG Electronics Inc (KS:066570), the world's No. 2 TV maker and a major shareholder in LG Display, were also underperforming the broader market.
"A lot of LG Display's key customers appear to have built up inventory during the first half of this year as well, which may also contribute to slower sales going forward," he added.
LG Display shares later pared losses and were down 3 percent in afternooon trade compared with a 0.3 percent rise for the broader market (KS11).
(Reporting by Hyunjoo Jin and Se Young Lee; Editing by Edwina Gibbs)