lg lcd panel manufacturer quotation

LG Electronics focused on developing new innovations across the globe. We are committed to providing electronic products that help customers live better. To support this, we have developed state-of-the-art products and appliances. We offer a wide range of products across areas including, TV & Home Entertainment, Kitchen, Laundry, Computers, Air Conditioning & Solar. Find out more about our unique and innovative products today. Contact your local LG representative for more information.

LG Display Co., Ltd. is a Korea-based company engaged in the development, manufacture and sale of display and related accessories. The Company mainly provides thin-film transistor liquid crystal display (TFT-LCD) panels, which are used in televisions (TVs), laptops, desktop monitors and other applications such as mobile phones, industrial devices, online stock trades, automobile navigation systems, aircraft instrumentation, medical devices and others. It also involves in the production of organic light-emitting diode (OLEDs) and monitors. Its products are under the brand name of LG Display. The Company distributes its products within domestic market and to overseas markets, including America, Germany, Japan, Taiwan, China and Singapore

South Korean display panel maker LG Display said it planned to cut costs in the first half of this year after posting a record quarterly loss, as global demand for smartphones, computers and televisions remains depressed. The Apple Inc supplier flagged a turnaround in the second half, pledging cost-cutting and inventory management until demand for its screens recovers later in the year. With the economic outlook uncertain, purchases of screens fell short of sales of tech devices as clients used up their inventories in the December quarter, a trend which is expected to continue in the first half, LG Display said.

SEOUL, Jan 27 (Reuters) - South Korean display panel maker LG Display (034220.KS) said it planned to cut costs in the first half of this year after posting a record quarterly loss, as global demand for smartphones, computers and televisions remains depressed.

With the economic outlook uncertain, purchases of screens fell short of sales of tech devices as clients used up their inventories in the December quarter, a trend which is expected to continue in the first half, LG Display said.

"We engaged in intense production adjustment in the fourth quarter," Kim Sung-hyun, CFO of LG Display said in an earnings call. "We expect to reduce costs by about 1 trillion won in the first quarter by reducing inventory and other activities."

To cut costs, the company stopped production of competition-heavy liquid-crystal display (LCD) TV panels in South Korea by end-2022 and reduced LCD TV panel production in China to 50% of capacity this month. It is also adjusting factory utilisation rates for its flagship OLED panels for TVs.

LG Display said it plans to boost its made-to-order business to increase stability in the face of uncertain market conditions, from 30% of sales currently to 50% of sales by 2024, including a client-ordered new smartphone panel production scheduled to be mass-produced starting second half of this year.

LG Display posted a 876 billion won ($711 million) operating loss for the October-December quarter, compared with a profit of 476 billion won in the same period a year earlier.

The company accounted for its large-sized OLED panel business as a separate unit during fourth quarter, which was reflected as an 1.3 trillion won asset loss, leading to a quarterly net loss of 2.1 trillion won.

LG Display Co Ltd is a Korea-based company principally engaged in the manufacture and sale of display panels. The Company produces and sells display panels for televisions (TVs), smart phones, monitors, notebooks and tablets. The Company holds liquid crystal display (LCD) and organic light emitting diodes (OLED) technology patents. In addition, the Company manufactures raw materials.

LG Display, a major Korean display maker, is expected to stop producing liquid-crystal display (LCD) panels for TV by the end of this year at the earliest, industry sources said Monday, amid falling profitability and fierce competition from Chinese rivals.

Japanese electronics giant Sony has increased its dependence on liquid crystal display (LCD) screens from Korean company LG, following a split from a previous partnership with Samsung Electronics in October last year.

It added that the partnership indicated Sony"s switch from relying on Samsung, and its battery-powered 3D technology, to LG which is pushing its cheaper film-based 3D technology, undercutting its Korean rival Samsung.

Sony terminated its previous LCD joint venture with Samsung in a bid to boost its loss-making TV business, as prices of LCDs dropped due to Japan"s move to digital terrestrial broadcast which stifled demand for TV sets. Sony sold back its stake to Samsung in October last year, ending the partnership.

According to The Korean Times report, LG is doubling production to fulfil Sony"s LCD panel needs. "Considering Sony"s aggressive drive for outsourcing in flat screens, LG will likely receive more orders," an unnamed LG source told the Korean newspaper. "It is better-positioned for product commitment, on-time delivery and pricing, than Taiwanese flat-screen suppliers."

LG Display said it expects global demand for 3D televisions to surpass 40 million by the end of this year and is increasing investment to boost the output of its premium flat screens, buoyed by its business partnership with Sony. The company"s panels have been adopted by Toshiba, Philips, Vizio and leading Chinese TV manufacturers, it added. The LG executive was quoted to say: "Major Japanese TV companies such as Panasonic displayed their latest 3D TVs, using LG"s film-based 3D technology at the recent technology exhibition in Las Vegas [Consumer Electronics Show]."

He also revealed that organic-light-emitting diode (OLED) panels were the next major revenue source. LG Display will invest some 400 billion won (US$356 million) this year to mass-produce OLED displays to replace the current industry mainstay LCDs, which is likely commence from 2014, he said.

"As Sony has already put LG Display on a list of key suppliers, future talks will cover its OLED panel outsourcing from the latter half of this year," said the executive who, however, declined to comment on whether LG would supply OLED panels to Sony.

Correction: The Korean Times article was later updated to reflect a change in the spokesperson quoted. It cited "LG sources" rather than LG CFO Jeong Ho-young. LG also sent ZDNet Asia an e-mail to say it could not confirm statements made in the article, adding that it was unable to comment on any information regarding its customers.