LG Display Turns Another Quarterly Operating Profit, Despite ‘Significant’ Panel Price Declines

For LG Display, Q4 ended Dec. 31 was the 15th straight quarter of operating profits, it said in a Wednesday earnings announcement. “Despite the significant panel price decline resulting from global economic recession and the expanded supply by Chinese panel makers,” LG Display was able to turn another quarterly operating profit “through expansion of differentiated products,” such as Ultra HD TV panels, advanced in-cell touch panels and in-plane switching panels, it said. “Given the continuing economic uncertainty, we are not in a favorable situation to expect demand to recover in the first quarter of 2016,” the company said. “However, the company aims to sustain market credibility and create value focusing on differentiated technology competitiveness. We will continue preparing for the future of OLED and invest in differentiation including in new OLED facilities.” LG Display is investing about $1.6 billion to build a new OLED panel plant in Paju, Gyeonggi Province, South Korea, with production expected to begin in the first half of 2018, the company said in a late-November announcement (see 1511290002).