LG Display has announced its fifth consecutive quarterly loss, citing weak seasonal demand for mobile display panels and continued sluggish demand for high-end televisions in its main market, Europe. As a supplier to Apple, LG Display reported an operating loss of 881 billion Korean won (approximately 4.9 billion Chinese yuan) for the April-June quarter, compared to a loss of 488 billion Korean won in the same period last year. The company's operating loss for the first quarter of 2023 was 1.098 trillion Korean won (approximately 6.17 billion Chinese yuan).

Data shows that LG Display's revenue for the second quarter of 2023 increased by 7% from the first quarter to 4.739 trillion Korean won (approximately 26.57 billion Chinese yuan), but decreased by 15% compared to the second quarter of 2022, which was 5.607 trillion Korean won. TV panels accounted for 24% of the second-quarter revenue, IT equipment panels such as monitors, laptops, and tablets accounted for 42%, mobile and other device panels accounted for 23%, and automotive panels accounted for 11%.

LG Display's performance in the second quarter improved compared to the previous quarter, benefiting from increased revenue and ongoing efforts to reduce costs through innovative cost structures, inventory management, and operational efficiency. Sung-hyun Kim, CFO of LG Display, stated in a statement that with the decrease in display panel inventory in the first half of this year, they expect "panel demand to increase" in the second half of the year. LG Display also expects to return to profitability in the final quarter of this year.

Since last year, as downstream industries, especially TVs and IT products, have continued to adjust their inventories, the panel inventory levels in the entire ecosystem of LG Display have decreased. The demand and shipments of large-size panels, including OLED TVs, increased in the second quarter. As a result, the shipment volume and revenue of area-based substrates in the second quarter increased by 11% and 7% respectively compared to the first quarter.