LG Display Reports Operating Profit of 131.7 Billion KRW in Q4 Last Year... First Profit in 7 Quarters

Effect of Supplying Panels for iPhone and TV·IT Devices

LG Display, which had been experiencing consecutive losses, returned to profitability in the fourth quarter of last year after seven quarters.

LG Display announced on the 16th that it recorded provisional consolidated annual sales of KRW 21.3308 trillion and an operating loss of KRW 2.5102 trillion for last year. Compared to the previous year, sales decreased by 18.4%, and the loss increased by approximately KRW 425.2 billion.

LG Display Paju Plant exterior view. [Photo by LG Display]

However, in the fourth quarter of last year, the company recorded sales of KRW 7.3959 trillion and an operating profit of KRW 131.7 billion, successfully turning a profit for the first time in seven quarters since the second quarter of 2022. The fourth-quarter operating profit slightly exceeded market expectations (KRW 120.6 billion). LG Display's cumulative sales for the first to third quarters of last year were KRW 13.935 trillion, with an operating loss of KRW 2.642 trillion.

The return to profitability in the fourth quarter is attributed to a significant increase in the supply of organic light-emitting diode (OLED) products for smartphones, as well as a seasonal peak effect that boosted demand and shipments of medium-to-large-sized products such as TV and IT panels.

LG Display plans to announce detailed results and status for the fourth quarter and the full year through a conference call on the 24th.

Meanwhile, this disclosure is in accordance with the obligation for large corporations to submit to the stock exchange on the day the initial internal settlement is finalized if annual sales or profit and loss structure changes by 15% or more compared to the previous fiscal year. The announced results are estimated figures based on Korean International Financial Reporting Standards (K-IFRS).

This content was produced with the assistance of AI translation services.