LG Display reported its financial results for Q3 2022 - with a net loss of 774 billion Won (around $540 million USD) and a decrease of 6.3% in its revenues.
LGD says that demand for its panels is low - and in fact the company says that demand for premium OLED panels is dropping at an "unprecedented level" - especially in Europe. The market for OLED TVs is especially low.
This isn't surprising - only yesterday we reported that LG Display has reportedly decided to halt OLED TV production at its 8.5-Gen fab in Paju, for about a month or maybe more as the company's inventories are too high.
Even though there is current weakness in the OLED sector, LGD is confident in its general strategy, and aims to accelerate its reduction of LCD capacity in China, and accelerate its shift to OLED technologies.
