LG Display’s operating loss in the third quarter was 80.6 billion won… “OLED conversion performance”

Sales KRW 6.8213 trillion
Increased shipment of small products such as those for mobile devices

LG Display reduced its deficit compared to the previous year as it promoted the advancement of its business structure centered on organic light-emitting diodes (OLEDs).

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

During the same period, sales recorded KRW 6.8213 trillion, an increase of 2% compared to the previous quarter and 43% compared to the same period last year.

Sales had a positive impact due to increased shipments of small product lines such as mobile products. The proportion of OLED products in total sales also increased by 16 percentage points compared to the same period last year, reaching 58%.

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

LG Display plans to continue to expand its management performance by improving its structure by upgrading its OLED-centered business structure, and focus its capabilities on improving profitability by promoting operational efficiency and cost innovation activities.

In the small and medium-sized OLED business, we strengthen business competitiveness based on stable supply capabilities and technological leadership. OLED for mobile devices will actively utilize its strengthened production capacity and production capacity to increase sales and secure profitability by expanding shipments and diversifying products. For IT OLED, we plan to further solidify the technological leadership of Tandem OLED, which has excellent durability and performance such as long lifespan, high brightness, and low power, while establishing an efficient response system such as measures to maximize production infrastructure in line with the changing market environment. am.

Based on close collaboration with customers, the large OLED business further expands the lineup of differentiated and high-end products that reflect consumer needs, such as ultra-large and ultra-high definition, as well as human-friendly products and gaming monitors that take the user’s health into consideration, and provide efficient products linked to actual demand. We plan to pursue qualitative growth that improves profitability through innovation in the operating structure, such as production and sales strategies and cost reduction.

The automotive business sells not only electric vehicles but also internal combustion 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 and solid customer relationships. Order-taking activities will proceed without a hitch across all vehicles, including vehicles. We plan to build a stable profit structure by continuously expanding our customer base and improving the proportion of OLED products and cost competitiveness.

LG Display CFO (Chief Financial Officer) Kim Seong-hyun said, “We are continuing to improve business performance by focusing the company’s capabilities on upgrading business structure, improving cost structure, and cost innovation activities.” He added, “Uncertainty in the market and external environment and volatility in actual demand continue.” “However, we will continue to see gradual performance improvement by operating a business focused on profitability based on the expansion of business structure advancement and operational efficiency.”

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