Revenue fell 8 percent to 6.4 trillion won, LG Display said in a regulatory filing.
Apple's iPhones will also likely feature triple-lens rear camera arrangements come 2020.
The supply deal from Apple will mark Japan Display’s foray into the OLED display market.
Overall planned production volume of old and new iPhones is likely to be cut to 40-43 mn units.
LG Display ranks second by unit shipments in the large LCD panel market after China’s BOE Technology Group.
LG Display said its operating profit was 140 billion won ($123.2 million) for the July-September quarter.
Foldable displays are a good fit for tablets because it could help make the devices easier to carry.
Samsung Display, a unit of Samsung Electronics, was the sole supplier of OLED displays for Apple.
LG Display will ship 20 million LCD displays and 3 to 4 million OLED displays to Apple.
LG Display is trying to increase its production capabilities in order to meet Apple's requirements.
HMD Global reportedly began working on the phone in February 2018 and might release it at IFA 2018.
The development is significant as complex computing for high-resolution videos has been cited as major causes for such delay
LG Display just patented a full-screen display module with a hole cut out for the camera and earpiece
It must also be kept in mind that LG Display is also commissioned for various third-party parts including panels for two of Apple's upcoming iPhones.
The ministry said in a statement that the approval was conditional on LG Display boosting the use of local materials and equipment.
Korean giant LG is all set to release its Nano IPO technology sporting 5K UltraWide monitor next year. This monitor lineup is aimed at video editors.
Apple could be working with LG on a foldable display sporting iPhone, reveals a patent application filed recently
This follows earlier rumours that the company was working with LG on a future foldable iPhone.
Google Inc has offered to invest at least $880.29 million so that it can help South Korea's LG Display boost output of organic light-emitting diode (OLED) screens for smartphones.
Joining the ever-growing list of companies with foldable phone patents is Microsoft with its own take on the concept.
LG Display has unveiled a 5.7-inch display for the LG G6; it features an 18:9 aspect ratio and QHD+ resolution
LG’s display arm has unveiled an interesting new 5.7-inch display that will possibly make its way to the upcoming LG G6.
According to a recent report, HMD Global will launch four new smartphones in addition to one that will launch during MWC 2017.