LG Display returned to profit after 6 years of losses

LG Display

LG Display, which is one of the world's largest manufacturers of screens for various electronics, returned to profit due to its favorable currency fluctuations and a small increase in prices on the LCD panel.

In July–September 2018, the net profit of LG Display amounted to 17.5 billion won (about $15.4 million), which is 96.3% less than the profit recorded in the same period of 2017. Operating profit also significantly decreased during this time-by 76.1% to 140 billion won ($123.2 million).

In the first quarter of 2018, LG Display received its first loss in six years. Monetary losses persisted in the second quarter.

However, market observers, referred to by Yonhap, warn that a return to profit does not necessarily mean that the company is on the path to recovery, as the average cost of television LCD displays in the fourth quarter should be reduced.

In July–September 2018, sales of LG Display reached 6.1 trillion won ($5.4 billion), which is 12.5% less than a year ago. About 41% of this volume was on TV screens, 21 % - on the panel for mobile devices. The share of products for laptops and tablets in the turnover of the South Korean company is 20 %, and the share of displays for monitors is 18 %.

LG Display reported the first quarterly profit in the OLED business since the start of production of such products in January 2013.
Category: Business | Views: 44 | Tags: LG, LG Display
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