LG Display Co. reports Q1 loss: Q2 will be better

LG Display Co. (SEO:034220) has posted its second consecutive quarterly net loss in Q1 in the three months ending March 31, this is a direct result of weak panel prices. LG have said that things look set to improve in the months ahead due to rising prices; this should help with a better Q2.

The Wall Street Journal has said that LG expects its second-quarter shipments of LCDs to increase by more than 20 percent after the first quarter of this year. LG Display, the second largest maker of Liquid Crystal Displays after Samsung Electronics Co. (005930.SE) by revenue has incurred a net loss of KRW255 billion for the first quarter; this is a lot different to its net profit of KRW717 billion in the same period last year.

This result was better than had expected, a number of analysts had predicted that the average forecast would be a net loss of KRW269 billion. LG are not being put off by these poor sales figures, the company still plan to purchase a 29.8% stake in Wooree LED Co. for KRW11.9 billion ($8.9 million).