(Seoul=NSP News Agency) soon ki Lee Journalist = LG Display announced its business results in the second quarter of 2022 with sales of 5,607.3 billion won and operating loss of 488.3 billion won.
In the second quarter, shipments decreased compared to plans due to the prolonged impact of COVID-19 lockdown in China and the contraction in demand in ront industries due to economic volatility and increased uncertainty.
In particular, China’s Corona blockade disrupted the production of finished products by global IT companies and the supply of parts by suppliers, leading to a situation of supply chain issues in which panel shipments were reduced.
Due to the contraction of front industries, set makers reduced purchases to minimize inventory, and LCD panel prices continued to fall, which affected earnings.
Net loss for the current term was 382 billion won and EBITDA(operating profit before amortization) was 661.7 billion won(profit margin of 12%). The sales ratio by product(based on sales) is 31% for TV panels, 45% for IT panels(monitors, notebook PCs, tablets, etc.), and 24% for mobile panels and other products.
LG Display plans to focus its capabilities on making up for the setbacks in shipments in the first half of the year due to supply chain issues while expanding its performance centering around OLED in the second half of the year.
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