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LG Display posts USD73.7m in net loss over Q2
(MENAFN) LG Display Co., South Korea's major flat-screen creator recorded loss in the second quarter from a year earlier mainly on the back of weak panel prices and lower shipments.
In detail, the world's largest LCD panel maker suffered a net loss of USD73.7 million for the cited period, compared with a profit of USD318.9 million for the same quarter last year.
Moreover, sales for the three months to June also decreased 12.7 percent on-year to USD5.1 billion; however, the firm expects its profitability to improve in the second-half of this year.
Furthermore, the Seoul based giant will spend USD1.7 billion to build a new production line for small and medium-sized organic light-emitting diodes (OLED) used for mobiles and smartwatches.
In detail, the world's largest LCD panel maker suffered a net loss of USD73.7 million for the cited period, compared with a profit of USD318.9 million for the same quarter last year.
Moreover, sales for the three months to June also decreased 12.7 percent on-year to USD5.1 billion; however, the firm expects its profitability to improve in the second-half of this year.
Furthermore, the Seoul based giant will spend USD1.7 billion to build a new production line for small and medium-sized organic light-emitting diodes (OLED) used for mobiles and smartwatches.
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