LG Display reports Q4 profit
January 25, 2024
By Chris Forrester
LG Display has reported its Q4 numbers bouncing back into positive territory with its first operating profit in seven quarters, helped by rising shipments of panels for TVs and smartphones.
LG Display, a major manufacturer of display panels, reported an operating profit of 131.7 billion won (€90.2 million) for Q4 2023, compared with an operating loss of 875.7 billion won the previous year.
Fourth-quarter sales jumped 55 per cent, thanks to the increased demand for TV panels and cellular and laptop OLED products during the period, LG Display said in a regulatory filing.
However, when rolled into its numbers on an annual basis, LG Display reported a net loss of 2.57 trillion won in 2023, compared with a net loss of 2.62 trillion won in 2022.
LG Display said it would be strengthening its competitiveness and business foundation in all areas of the OLED business, including those involving large displays, mobile and automotive, to secure a stable revenue structure and focus its capabilities on creating customer value.
“Although market volatility will continue this year due to prolonged unstable macroeconomic conditions, we will [be] strengthening the competitiveness of our organic light-emitting diode (OLED) businesses,” said CFO Sung-hyun Kim.