LG Display Co., a flat panel maker, said Tuesday that it swung to the black in the fourth quarter from a year earlier, largely thanks to a rise in panel prices and a diversified product portfolio.

Its net profit reached 825 billion won ($706 million) in the October-December period, compared with a loss of 13.5 billion won a year earlier, it said in a regulatory filing.

Operating income shot up to 904 billion won in the fourth quarter from 60.6 billion won a year earlier, and sales increased 5.9 percent on-year to 7.94 trillion won, it said.

LG Display said it logged an operating income of 1.3 trillion won on sales of 26.5 trillion won last year.

"Sales increased during the latter part of last year and a diversified portfolio helped improve profitability," a company official said.