{"id":23824,"date":"2023-04-26T05:43:07","date_gmt":"2023-04-26T05:43:07","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/lg-display-posts-4th\/"},"modified":"2023-04-26T05:43:40","modified_gmt":"2023-04-26T05:43:40","slug":"lg-display-talks-up","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/lg-display-talks-up\/","title":{"rendered":"LG Display talks up H2 recovery hopes after 4th straight quarterly loss"},"content":{"rendered":"<p>By Joyce Lee and Heekyong Yang<\/p>\n<p>SEOUL (Reuters) -South Korean display panel maker LG Display on Wednesday pinned hopes for a second-half turnaround on the tech sector replenishing depleted inventories after racking up a fourth straight quarterly loss that trailed estimates.<\/p>\n<p>Amid depressed global demand for devices like computers and monitors, LG Display slumped to a 1.1 trillion won ($823 million) operating loss for January-March, versus a profit of 38 billion won a year earlier. That missed a 660 billion won loss forecast from 18 analysts polled by Refinitiv SmartEstimate. <\/p>\n<p>With demand down, makers of tech devices actively sought to use up inventories during the first quarter, Apple Inc supplier LG Display said.<\/p>\n<p>&#8220;However, we now bottom out in the first half and plan to achieve a turnaround during the second half of the year, as the industry recovers its inventory level,&#8221; said Chief Financial Officer Sung-hyun Kim. <\/p>\n<p>Revenue also shrank by nearly a third, to 4.4 trillion won, as LG Display continues to downsize its less-competitive liquid crystal display (LCD) TV panel business.<\/p>\n<p>In a move designed to reduce volatility and reliance on short-term sales, LG Display plans to increase its longer-term order-based production to account for more than 70% of revenue in two to three years, up from 40% currently. <\/p>\n<p>Shares in LG Display fell as much as 4% after the results announcement before paring losses. At 0540 GMT they were down 1.4% versus a 0.1% drop in the wider market. <\/p>\n<p>($1 = 1,337.2400 won)<\/p>\n<p> (Reporting by Joyce Lee and Heekyong Yang; Editing by Himani Sarkar and Kenneth Maxwell)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/lg-display-posts-4th\/international-consumer-technology-fair-ifa-in-berlin\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3P04Z-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ3P04Z-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Joyce Lee and Heekyong Yang SEOUL (Reuters) -South Korean display panel maker LG Display on Wednesday pinned hopes for a second-half turnaround on the tech sector replenishing depleted inventories after racking up a fourth straight quarterly loss that trailed estimates. Amid depressed global demand for devices like computers and monitors, LG Display slumped to [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":23825,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[1223],"class_list":["post-23824","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3P04Z-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/23824","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=23824"}],"version-history":[{"count":3,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/23824\/revisions"}],"predecessor-version":[{"id":23897,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/23824\/revisions\/23897"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/23825"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=23824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=23824"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=23824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}