LG Display's first quarter net loss of $113 million for the third consecutive quarter of losses

On April 25th, LG Display, the world's second-largest LCD manufacturer, released its latest quarterly earnings report. LG Display suffered a loss for the third consecutive quarter due to weak demand in the TV market and delayed development of new tablet panels.

LG's first quarter revenue was 6.18 trillion won, a year-on-year increase of 15.2%. However, the company's operating loss in the first quarter was 178 billion won, which is the sixth consecutive quarter of its operating losses. The net loss for the first quarter was 129 billion won ($113 million), which was slightly better than analysts' forecast of a net loss of $133 million.

LG said that the delay in new product development caused the company's first-quarter display shipments to decrease by 4% compared with the previous quarter, and the production of tablet panels had an accident and had a certain impact on the company's performance. LG expects the situation to start to improve in the second quarter, as many TV manufacturers plan to increase inventory before the start of major global sports events such as the London Olympics. As the growth rate of supply slows down, the problem of oversupply in the TV market will be alleviated in 2012.

The industry said LG Display has resumed supplying iPad panels to Apple earlier this month. The strong market demand for new iPad sales will help suppliers increase profits. But as the LCD market is becoming more mature, LG Display faces the problem of slowing business growth in this area. It intends to expand its investment in next-generation TV panels, OLED technology, without investing in existing LCD display lines.

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