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LG Display recorded Q1 sales drop by 31.8% turning into a loss, expecting profit in the 2nd half the this year

NSP NEWS AGENCY, By Eun-young Huh and Bok-hyun Lee, 2023-04-28 06:37 ENX7
#LG Display

(Seoul=NSP NEWS) = On April 26th, LG Display announced its Q1 2023 business results, reporting 4.41 trillion won in sales and 1.98 trillion loss in operating profit.

Its sales decreased by 31.8% compared to same period last year, turning its operating profit into a deficit.
The loss is due to a staggering demand on TV and IT products as well as aggressive inventory adjustments in the front industry. The company has downsized its LCD TV business to advance its business structure, which has also impacted the sales.

In terms of Q1 sales by each product, panels for TV accounted for 19%, IT products (for example, monitor, laptop, tablet, etc.) for 38%, smartphones and other products 32%, and vehicles 11%.


Net loss of the term and EBITDA(Earnings Before Interest, Tax, Depreciation and Amortization) recorded 1.1531 trillion won and 80.2 billion won, respectively.

LG Display said it will push forward with advancing order-based business structure to stably manage product volumes and prices through a close collaboration with customers.

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