LG Display Returns to Loss in Q1... Operating Loss of 469.4 Billion KRW

The Deficit Halved Compared to Last Year
Sales of 5.253 Trillion KRW... 19% Increase YoY

LG Display recorded an operating loss of 469.4 billion KRW in the first quarter of this year. Although it posted a profit in the fourth quarter of last year for the first time in seven quarters, it returned to a loss after just one quarter.

LG Display announced on the 25th that it recorded sales of 5.253 trillion KRW and an operating loss of 469.4 billion KRW in the first quarter of this year. Sales increased by 19.1% compared to the same period last year, and the operating loss decreased by 57.3%.

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

An LG Display official explained, "Sales decreased compared to the previous quarter due to the seasonal off-season, but shipments of panels for TVs and monitors expanded, and mass production of IT (Information Technology) OLED (Organic Light Emitting Diode) began, resulting in a 19% increase compared to the same period last year."

He added, "Regarding profitability, we reduced the loss scale compared to the same period last year by advancing the business structure centered on OLED and continuing intensive cost-cutting activities."

The sales proportion by product (based on sales) is ▲ TV panels 22% ▲ IT panels (monitors, notebook PCs, tablets, etc.) 40% ▲ mobile panels and other products 28% ▲ automotive panels 10%.

LG Display plans to improve business performance and management results by expanding the proportion of high value-added products across all business areas including TV, IT, mobile, and automotive, and by continuously promoting cost structure improvement and operational efficiency activities.

In the large OLED sector, LG Display will strengthen its customer base centered on ultra-high-definition, extra-large products applying the 'Meta Technology 2.0' that increases screen brightness by about 42% compared to existing technology, and further strengthen its position in the premium TV market through expanding the high value-added product portfolio such as gaming monitors and cost innovation.

In the small and medium OLED sector, based on technological leadership and stable supply capabilities such as Tandem OLED technology with long lifespan, high brightness, and low power consumption, LG Display is steadily progressing with mass production of IT OLED, and plans to continuously increase market share in the high-end market by actively utilizing expanded production capacity and increasing shipments of mobile OLED.

In the automotive display sector, LG Display will continue to strengthen its status as the world’s number one company by expanding its customer base and growing orders and sales based on differentiated products and technological competitiveness such as P-OLED based on Tandem technology, ATO (Advanced Thin OLED), and high-end LTPS LCD.

Kim Sung-hyun, CFO (Chief Financial Officer) of LG Display, said, "Although uncertainty and volatility in the market and external environment continue, we will strengthen business competitiveness and future business foundation and secure a stable profit structure by expanding the proportion of high-end products centered on OLED, improving cost structure, and focusing company-wide capabilities on operational efficiency."

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