LG Display Result 24/04/2018

LG Display reported its financial results for the first quarter ending March 31, 2018. Revenues for the Q1 2018 were KRW 5675 billion ($5.26 billion), a decrease of 20.3%, compared to KRW 7062 billion ($6.54 billion) in Q1 2017. The company has to bear a loss in Q1 2018 and the net loss was KRW 49 billion ($45 million), compared with the net income of KRW 679 billion ($630 million) in the first quarter of 2017. The decline in revenues for Q1 2018 was the result of weak demand in panels from typical low seasonality, a continued decline in panel prices and an unfavourable exchange rate.

In the first quarter of 2018, Revenues from TV panels accounted for 43% of its business, mobile devices for 22%, tablets and notebook PCs for 19%, and desktop monitors for 16%. The company said that it expects LCD panel prices to stabilise in Q2.