LG Display Announces Q2 Financial Results

LG Display revealed its second-quarter consolidated financial results on July 24, reporting sales of 5.587 trillion won and an operating loss of 116 billion won. This marks a significant shift from the previous quarter's performance.

Year-on-Year Performance Decline

The company experienced a 16.7% decrease in Q2 sales compared to the same period last year, with operating profit dropping by 23.9%. This downturn is attributed to the discontinuation of the LCD TV business and unfavorable exchange rate trends.

Strategic Focus on OLED Technology

Despite the challenges, LG Display is doubling down on its OLED technology, which now accounts for 56% of total sales. The company is committed to cost innovation and operational efficiency to strengthen its market position.

Future Outlook

Kim Sung-hyun, CFO of LG Display, expressed optimism for a performance rebound in the latter half of the year, citing improvements in the OLED business and financial structure.