LG Display Reports Operating Loss of 1.3594 Trillion KRW Last Year, Returning to Deficit

[Asia Economy Reporter Oh Ju-yeon] LG Display reported an operating loss of 1.3594 trillion KRW on a consolidated basis last year, turning to a deficit compared to the previous year, the company announced on the 31st. Sales amounted to 23.4756 trillion KRW, a 3.54% decrease from the previous year, and the net loss widened to 2.872 trillion KRW.

The company explained, "Operating profit turned to a loss due to intensified competition within the industry and a continued annual decline in panel prices," adding, "The net loss expanded as an asset impairment of approximately 1.6 trillion KRW was reflected."

It continued, "Although the net loss temporarily increased due to asset impairment, this is a book asset write-down without cash outflow, so it does not directly affect cash flow or operating profit," and "We expect a positive effect in the future from the perspective of reducing anticipated uncertainties."

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