Beijing time on January 23 morning news, the world's largest LCD TV panel maker LGDisplay announced that the company's fourth quarter last year, operating profit fell 95% year-on-year, the lowest level in nearly two years.
The company said that the performance did not meet market expectations, due to panel price declines, coupled with more than expected development and production of small-size OLED screens.
The Apple supplier achieved operating profit of 44 billion won ($41.2 million) from October to December last year. According to the Thomson Reuters I/B/E/S survey, 12 analysts on average expected the company's operating profit for the quarter was 250 billion won.
This is the lowest quarterly operating profit of LG Display since the second quarter of 2016.
“The downward trend in panel prices is expected to continue, but prices are expected to stabilize at the end of the first quarter,†the company’s CFO Don Kim said in a statement. He added that panel shipments in the first quarter may fall due to off-season factors. Nearly 10%.
Analysts said that due to weak demand, and Apple's latest iPhone model replaced the LCD panel with OLED panels, the company's LCD panel sales in the current quarter was lower than the previous year.
The Wisdom Consulting Optoelectronics Research Center (WitsView) said that LCD TV panel prices fell 20% to 40% last year, and the previous year was due to the tight demand for large-size TV sets.
However, WitsView said that with the rebound in TV shipments and the lower panel prices spurring TV manufacturers to step up their stocking, the price cuts may ease in 2018. In addition, with the new production lines of BOE and other companies gradually improving production quality, supply and demand will be more balanced.
LG Display also dominates the TV OLED panel market, but its rival Samsung Electronics' display business dominates the small-size OLED panel market for mobile phones. LG Display now also wants to penetrate this area.
South Korea approved LG Display's plan to build an OLED panel factory in China last December. The company hopes to expand its OLED business and enter the smartphone OLED panel market.
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