LG Display Posts US$203 Million Q2 Loss
LG Display has fallen further into the red, posting a whopping US$203.6 million (KRW228 billion) operating loss in the second quarter of 2018.
According to Taiwanese-trade publication, DigiTimes, BOE has trumped LG Display to become the world’s largest TV panel supplier in Q1, with shipments totalling 25.84 million units.
By comparison, LG Display shipped 23.72 million units – down 3.4% versus a year ago.
Despite the quarterly decrease, LG Display has continued to lead in the large-TV segment, specifically 55-inch, 65-inch, and 75-inch models, as its ramps up OLED capacity.
For the period January to June, Samsung Display ranked in forth place on a unit shipment basis. The company has continued to expand shipments of large TV panels, specifically 65-inch models.
For Q2Y18, LG Display reportedly post a net loss of KRW300.5 billion (~US$ 268 million), versus a net profit of KRW736 billion (US$657 million) a year earlier.
Q2 revenues dropped 15% year-on-year, with TV panels representing 42% of revenue, followed by 22% for mobile devices and 19% for tablets and notebooks.
LG Display states it will focus on an OLED-centric business in the mid and long-term, with a turnaround expected for its OLED TV division in Q3.