{"id":64252,"date":"2024-04-25T05:00:00","date_gmt":"2024-04-25T00:00:00","guid":{"rendered":"http:\/\/myanmarnewsgazette.com\/?guid=3bfb7aafa7dc761194796391219d187b"},"modified":"2024-04-25T05:00:00","modified_gmt":"2024-04-25T00:00:00","slug":"lead-lg-display-remains-in-red-in-q1-but-narrows-net-loss-on-cost-saving-efforts","status":"publish","type":"post","link":"https:\/\/myanmarnewsgazette.com\/lead-lg-display-remains-in-red-in-q1-but-narrows-net-loss-on-cost-saving-efforts\/","title":{"rendered":"(LEAD) LG Display remains in red in Q1, but narrows net loss on cost-saving efforts"},"content":{"rendered":"
\nSouth Korea’s flat-screen maker LG Display Co. said Thursday it remained in the red in the first quarter of this year but the deficit narrowed on its cost-saving efforts.<\/p>\n
Its operating loss reached 469.4 billion won (US$341.1 million) for the January-March period, compared with a loss of 1.09 trillion won a year earlier, according to the company in a regulatory filing.<\/p>\n
LG Display posted operating profit in the fourth quarter of 2024 after six consecutive quarterly losses.<\/p>\n
Its sales jumped 19.1 percent on-year to 5.25 trillion won for the three-month period, while its net loss reduced to 761.3 billion won from 1.15 trillion won.<\/p>\n
The operating loss was 20.7 percent lower than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.<\/p>\n
LG Display said its weak bottomline is attributable to low seasonal cycles in the first quarter.<\/p>\n
But the quarterly loss reduced from a year ago as its efforts to change its business portfolio focusing on organic light emittin
\ng diode products and strict cost-saving activities.<\/p>\n
The company said its first-quarter sales rose thanks to an increase in shipments of TV and monitor panels.<\/p>\n
Sales of screens for IT products like monitors, laptops and tablets accounted for 40 percent of the company’s total sales for the January-March period, followed by mobile displays and others with 28 percent and TV panels with 22 percent.<\/p>\n
LG Display said it will expand the production of premium panels for TV, IT, mobiles and automobiles and streamline its cost structure in a way to improve its balance sheet.<\/p>\n
Source: Yonhap News Agency<\/p>\n","protected":false},"excerpt":{"rendered":"
South Korea’s flat-screen maker LG Display Co. said Thursday it remained in the red in the first quarter of this year but the deficit narrowed on its cost-saving efforts.<\/p>\n
Its operating loss reached 469.4 billion won (US$341.1 million) for the January…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"yoast_head":"\n