SEOUL, KOREA - LG Displayposted profits in the first quarter of this year thanks to its cost saving efforts. The company has remained profitable for eight consecutive years.Despite a decline in sales and operating profit compared to a year ago, the company is viewed by many analysts as having performed relatively well, particularly considering the sluggish trend in the prices of LCD panels.
LGDisplay announced on April 23 that it posted sales of 5.58 trillion won and operating profit of 94.3 billion won for the first quarter of this year, down 17.9 percent and 37.6 percent, respectively, from a year ago. The company suffered a net loss of 81.9 billion won, in a turnaround from a net profit a year before.
The company’s LCD sales for the first quarter stood at 8.33 million square meters, down 13 percent from a quarter ago. The share of TV panels accounted for 41 percent in total sales, followed by monitor panels with 20 percent and mobile panels with 17 percent.