LG Display Reports Q3 Operating Loss of 80.6 Billion KRW..."OLED Transition Success"

Sales of 6.8213 Trillion KRW
Increase in Shipments of Mobile and Other Small Devices

LG Display reduced its deficit compared to the previous year as it pursues the advancement of its business structure centered on organic light-emitting diode (OLED) technology.

LG Display announced on the 23rd that it recorded an operating loss of 80.6 billion KRW in the third quarter of this year, reducing the deficit compared to the previous quarter and the same period last year. The company has sustained losses for three consecutive quarters, but the deficit has decreased from 469.4 billion KRW in the first quarter to 93.7 billion KRW in the second quarter of this year.

During the same period, sales reached 6.8213 trillion KRW, up 2% from the previous quarter and 43% from the same period last year.

The increase in shipments of small-sized products, including those for mobile use, positively impacted sales. The proportion of OLED products in total sales also expanded by 16 percentage points compared to the same period last year, reaching 58%.

The sales composition by product (based on revenue) is 23% for TV panels, 33% for IT panels (monitors, notebook PCs, tablets, etc.), 36% for mobile panels and other products, and 8% for automotive panels.

LG Display plans to focus its capabilities on improving profitability by continuously expanding management performance through business structure advancement centered on OLED, as well as promoting operational efficiency and cost innovation activities.

In the small- and medium-sized OLED business, the company will strengthen its business competitiveness based on stable supply capabilities and technological leadership. For mobile OLEDs, it will actively utilize enhanced production capacity and capabilities to expand shipments and diversify products, aiming for sales growth and securing profitability. For IT OLEDs, LG Display plans to further solidify its technological leadership in tandem OLEDs, which offer excellent durability and performance such as long lifespan, high brightness, and low power consumption, while establishing an efficient response system that maximizes the use of production infrastructure in line with changing market conditions.

In the large OLED business, based on close collaboration with customers, LG Display will further expand its differentiated and high-end product lineup that reflects consumer needs, including ultra-large and ultra-high-definition displays, human-friendly products considering users' health, and gaming monitors. The company plans to pursue qualitative growth by enhancing profitability through efficient production and sales strategies linked to actual demand and innovations in operational structure such as cost reduction.

In the automotive business, LG Display will steadily carry out order activities across the entire vehicle sector, including electric vehicles and internal combustion engine vehicles, based on a differentiated product and technology portfolio such as tandem technology-based P (plastic)-OLED, ATO (Advanced Thin OLED), and high-end LTPS (low-temperature polycrystalline silicon) LCD, as well as solid customer relationships. The company plans to continuously expand its customer base, increase the proportion of OLED products, and enhance cost competitiveness to establish a stable profit structure.

Kim Seong-hyun, CFO (Chief Financial Officer) of LG Display, stated, "We are focusing the entire company's capabilities on business structure advancement, cost structure improvement, and cost innovation activities to continuously improve management performance." He added, "Although uncertainty in the market and external environment and volatility in actual demand persist, we will continue to pursue profitability-centered business operations based on the expansion of business structure advancement results and operational efficiency, maintaining a gradual improvement trend in performance."

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