LG Display expects "a rise in demand for panels" as stockpiles of display panels have fallen during the first half of the year, CFO Sung-hyun Kim said.
The second-quarter result was in line with a forecast of an 889 billion won loss from 16 analysts polled by Refinitiv SmartEstimate, weighted toward analysts that are more consistently accurate.
Factory run-rates for organic light-emitting diode (OLED) displays used in high-end televisions remained relatively low due to weak sales in Europe, resulting in the poor performance in the second quarter, analysts said.
Mobile display panel orders are concentrated in the second half of the year, ahead of the holiday season.
However, the initial supply volume is unlikely to significantly impact the company's financials in the third quarter, analysts said.
Persons:
Sung, Kim, Refinitiv SmartEstimate, Joyce Lee, Tom Hogue
Organizations:
LG, Apple Inc, Revenue, LG Display, Apple, Samsung Electronics, Reuters, Thomson
Locations:
SEOUL, KS, Europe