LG Display Reports Q4 Net Loss
TWICE Staff -- TWICE, 1/21/2011
Seoul, South Korea - LG Display reported a net loss due to a price fixing fine and weaker demand in the fourth quarter.
The company reported that the net loss was due to a European
Union fine of 215 million euros for price fixing of LCD panels from 2001 to
2006.
The net loss was 268.4 billion won for the quarter, ended
Dec. 31, 2010, compared with a net profit of 502.1 billion won in the prior
year. Sales rose 10 percent to 6.48 trillion won, from 5.91 trillion won a year
earlier.
Lower panel prices also hurt the company in the final three
months of last year, but unit shipments increased.
LG Display's average selling price per square meter of
display area shipped was $695 in the fourth quarter, down from the third
quarter's $778 average price and lower from the prior year's fourth quarter of
$809 per panel.
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