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LG Display Reports Q4 Net Loss

1/21/2011 11:40:10 AM Eastern

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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