Seoul, South Korea – LG Display reported lower sales and a
dramatic drop in net profit in its fiscal second quarter, ended June 30.
Sales in the quarter were 6.01 trillion won, down from 6.45
trillion won in the same quarter last year.
Net income was 21.3 billion won, down year on year from
554.8 billion won a year ago.
The operating loss was 48.3 billion won compared with the
prior year’s 725.9 billion won operating profit.
LG Display reported it shipped a total of 7.45 million square meters of
net display area in the second quarter of 2011, an increase of 11 percent
quarter on quarter.
The company said TFT-LCD panels for TVs, monitors, notebook PCs,
smartbooks and mobile applications accounted for 48 percent, 20 percent, 14
percent, 10 percent and 8 percent, respectively, on a revenue basis in the
second quarter.
Young Soo
Kwon, CEO of LG Display, said in a statement, “Despite the rapidly changing
market conditions, we were able to maintain our competitive industry position
due to a strong business structure that is highly resilient to market
fluctuation. We will focus
on increasing the proportion of differentiated products … and executing
efficient operation strategies to overcome uncertainties in the second half of
the year.”
