[Concall] LG Display "Plan to Reduce Costs by About 1 Trillion Won in Q1"

[Asia Economy Reporter Han Yeju] LG Display, which reported a deficit due to sluggish front-end business, announced plans to reduce costs by approximately 1 trillion KRW in the first quarter of this year.

During the Q4 earnings conference call held on the 27th, LG Display stated, "The most fundamental principle is to generate the most profit through business operations," but added, "We will accelerate the exit strategy for the LCD TV segment, which has been judged as an underperforming business, to minimize potential future losses. Additionally, we will secure an operational system that fits market conditions through bold reductions and efficiency improvements in investments and costs. We are implementing measures to minimize expenditures through minimal inventory management and working capital management."

They continued, "The closure of the 7th generation LCD fab and the gradual reduction of the 8th generation fab in China are not simply about reducing production but about cutting the costs involved," adding, "We are executing a plan to reduce about 1 trillion KRW in the first quarter alone through working capital management and cost efficiency."

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