- LG Display, a South Korean flatscreen maker, expects to return to profit in the current quarter after reporting a sixth consecutive quarterly loss.
- Weakness in premium TV sales and reduced demand for personal computers, TVs, and mobile phones contributed to its recent losses.
- Rising living costs and economic uncertainties have caused device makers to purchase fewer components for their products.
- However, LG Display anticipates a rebound in demand for display panels used in mobile phones, as stockpiles have been decreasing throughout the year.
- The company expects a turnaround in profit in the fourth quarter, as it anticipates easing of excessive panel inventory adjustments in downstream industries. Increased shipments of mid- and large-sized OLED displays and new mobile devices to meet year-end seasonal demand are also expected.
- LG Display’s shares rose as much as 8% after the earnings announcement, signaling market confidence in the company’s potential for profitability.