LG Display reported its financial results for the first quarter of 2024, highlighting a mix of challenges and strategic advancements. The company’s revenues for the period were KRW 5.253 trillion ($3.82 billion), marking a decrease of 29% from the previous quarter but an increase of 19% compared to the same period last year.
The company experienced an operating loss of KRW 469 billion ($340 million) in the first quarter, contrasting with the operating profit seen in the last quarter of 2023 and showing improvement from the larger loss reported in the first quarter of the previous year.
EBITDA for the quarter was positive at KRW 810 billion ($590 million), recovering from an EBITDA loss in the same period the previous year, despite falling from the previous quarter. This suggests an underlying ability to generate cash through operations despite the current loss.
Revenue distribution by product category shows that IT device panels, including monitors, laptops, and tablets, made up the largest segment, accounting for 40% of total revenues. TV panels contributed 22%, while mobile devices and other products accounted for 28%. Automotive panels made up the remaining 10%.
As for what the company is telling the market, it is looking ahead, focusing on strengthening its OLED technology offerings. The company is pushing forward with its large-sized OLED segment, aiming to secure a strong position in the premium TV market, and is expanding its portfolio to include gaming monitors and other high-value products.
