On the 11th, LG Innotek shares rose more than 3% intraday. Analysts said expectations that LG Innotek's fourth-quarter results will grow on the back of higher iPhone 17 sales have buoyed investor sentiment.
As of 9:24 a.m. that day, LG Innotek was trading at 298,500 won on the Korea Exchange, up 9,500 won (3.29%) from the previous session.
The securities industry analyzed that LG Innotek will also post strong results as iPhone 17 sales increase.
Park Sang-hyun, a researcher at Korea Investment & Securities, said, "Even though the iPhone 17's specifications and design have few major differences from the previous model, cumulative sales in September–October rose 18% from the same period for the previous model thanks to expanded marketing in China channels and the arrival of the replacement cycle (52 months)," adding, "As a result, increased sales volumes of LG Innotek's camera modules will feed into fourth-quarter results."
Park expects LG Innotek's consolidated sales in the fourth quarter of this year to be 7.8463 trillion won and operating profit to be 399.3 billion won. Those figures are up 46.1% and 96%, respectively, from a year earlier.
Demand for package substrates is also expected to increase. Park said, "While maintaining its position as a major package substrate supplier to a North American client, applications are diversifying into artificial intelligence (AI) memory such as PC central processing units (CPUs) and next-generation graphics memory (GDDR7)," adding, "The contribution of the substrate materials business to operating profit will expand from 9.6% in 2024 to 18.4% in 2025 and 28.4% in 2026."