South Korean flat-screen maker LG Display has faced an operating loss in the first quarter of 2023 due to declining demand for large display panels used in televisions and small panels utilized in smartphones. Despite outperforming the projected loss, the company has experienced a significant setback compared to its previous profit in the fourth quarter of 2023.
LG Display, a leading South Korean flat-screen maker, reported an operating loss of 469 billion won ($341 million) in the first quarter of 2023. This marks a reversal from the previous quarter’s profit and reflects the ongoing challenges faced by the industry due to weakening demand for large display panels used in televisions and small panels used in smartphones. Despite the loss, the result was an improvement compared to the 1.1 trillion won loss incurred in the same quarter a year ago and surpassed analyst expectations of a 630 billion won loss. The company had previously reported six consecutive quarterly losses before posting a profit in the fourth quarter of 2023, driven by increased seasonal demand during the year-end holidays.
LG Display, a global leader in display innovation, announces the development of the first-ever Gaming OLED panel with switchable refresh rate and resolution. Its 31.5-inch panel, now in mass production, offers users the flexibility to prioritize refresh rate for fast-paced gameplay (FHD∙480Hz) or high resolution for immersive visuals (UHD∙240Hz). This groundbreaking technology, Dynamic Frequency & Resolution (DFR), empowers users to tailor their display experience to specific content and genres.
