Beijing time, January 23 morning news, the world's largest LCD TV panel manufacturer LGDisplay announced that the company's operating profit in the fourth quarter of last year fell 95% year-on-year, the lowest level in nearly two years.
The company said that the performance did not meet market expectations, due to the decline in panel prices, coupled with the development and production of small-size OLED screens exceeded expectations.
The Apple supplier achieved an operating profit of 44 billion won (US $ 41.2 million) from October to December last year. According to a Thomson Reuters I / B / E / S survey, 12 analysts on average expected the company ’s operating profit for the quarter to be 250 billion won.
This is LG Display ’s lowest quarterly operating profit since the second quarter of 2016.
"The downward trend in panel prices is expected to continue, but prices are expected to stabilize at the end of the first quarter." The company's CFO Don Kim said in a statement that he also added that panel shipments in the first quarter may decline due to off-season factors Almost 10%.
Analysts said that due to weak demand and Apple's latest iPhone models replaced LCD panels with OLED panels, the company's LCD panel sales in the quarter were lower than the previous year.
Jibang Consulting Optoelectronics Research Center (WitsView) said that the price of LCD TV panels fell by 20% to 40% last year, while the previous year saw a price increase due to tight demand for large-size TVs.
However, WitsView said that with the rebound in TV shipments, coupled with lower panel prices spurring TV manufacturers to step up their stocks, the price reduction trend may ease in 2018. In addition, as new production lines of companies such as BOE gradually improve production quality, supply and demand will become more balanced.
LG Display also dominates the TV OLED panel market, but its competitor Samsung Electronics ’display business dominates the small-size OLED panel market for mobile phones-LG Display now hopes to penetrate into this area.
South Korea approved LG Display ’s plan to build an OLED panel factory in China last December. The company hopes to use this to expand its OLED business and enter the smartphone OLED panel market.
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