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LG Display hoping to boost business as display market improves

LG Display hoping to boost business as display market improves

By BizLED Bureau

July 15, 2016: As the display panel industry is now showing signs of steadiness, LG Display, the leading display panel provider, is hoping to boost its business performance in the second quarter of 2016.  Addressing the media in an event, Han Sang-beom, the CEO of LG Display said that is a signal of things shifting slightly in the second half of 2016. The company is making a range of price-related efforts and is hopeful to see better business performance in the second quarter, added Han.

Sales of display panels to rise

In recent quarters, the manufacturers of panel display suffered price declines owing to poor sales of consumer electronic goods like TVs and smartphones. However, in the second quarter, the display panel sales for some tablets, monitors and TVs are picking up in a steady manner.

READ ALSO: LG Display unveils wallpaper thin TV

The bottom could not approach early enough for LG, the South Korea based panel provider, which is likely to post a 96% decline in April-June operating income to $15.72 million, according to an estimate by industry experts. Lacklustre sales for chief client Apple’s  iPhones have also impaired the bottom line for the company. LG Display will report its second-quarter incomes on July 27, 2016.

Popularity of OLED displays

Flexible organic light-emitting diode (OLED) screens have become extremely popular and the company is all set to supply them to key Chinese clients for for mobile products, said Han. At present, LG Display supplies such screens, mostly for smartwatches to Apple and Electronics Inc.

READ ALSO: LG Display to invest $1.6 bn in new OLED plant

As far as the display market is concerned, plastic OLED is a growing trend. While the smartphone market is in an idle position, it is still a development market, so the company is set to concentrate on preparing capacity and, introducing and expanding products accordingly, Han added.

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