LGD Returns to Profit in Q1

LG Display (LGD) returned to profit in the first quarter of the year, reporting a net profit of KRW476 billion ($439.8 million) having seen a net loss a year earlier of KRW82 billion ($75.7 million). However, turnover improved 26% to KRW7 trillion ($6.4 billion) from KRW5.8 trillion ($5.3 billion) and represents the company’s highest ever first quarter revenue. This was mainly due to favourable market trends for large-sized TV panels based on stable demand continuing from the fourth quarter of 2014.

The company said that TFT-LCD panels for TVs accounted for 41% of revenue in the first quarter of 2015, mobile device panels for 25%, tablet PCs and notebook PCs 17%, and monitors 17%. In the case of OLED panels, LGD expects that OLED market growth will accelerate this year with technology developments and improvements in productivity and says it is targeting the high-end market with diversified OLED panel products. LGD expects to sell 600,000 OLED TV units this year, with the figure to more than double to 1.5 million units in 2016.