LG Display announced its financial results for Q1 2021. The company reported sales of $6.2 billion, an operating income of $469.5 million and net profit of $238 million. Sales were lower (by 8%) compared to Q4 2020, but higher by 46% from Q4 2020. LGD remained profitable for the third consecutive quarter.
LG Display announced its financial results for Q1 2021. The company reported sales of $6.2 billow, an operating income of $469.5 million and net profit of $238 million. Sales were lower (by 8%) compared to Q4 2020, but higher by 46% from Q4 2020. LGD remained profitable for the third consecutive quarter.
LGD reported strong OLED TV sales, despite the seasonality - 1.6 million OLED TV panels shipped in the quarter, similar to Q4 2020 (which represents a peak season). LGD is on track to ship 8 million OLED TV panels in 2021. Mobile OLED panel shipments were lower than Q4 2020.
LGD says that its current view on the OLED TV market is positive, but it is not ready yet to commit to capacity expansion. LGD's management says that in Q2 or Q3 2021 it will likely to make a decision whether to increase capacity or not. For mobile OLEDs, its current plan is to maximize its productivity from its existing capacity (30,000 monthly substrates in its Paju fab, and 15,000 in Kumi). It has no immediate plans to expand mobile OLED production.
An interesting remark was made on the IT market. LGD sees OLED adoption increasing - in laptops and monitors. It is looking at the market, and plans to enter this market in the future, when it has technological advantages over other companies.
Posted: Apr 29,2021 by Ron Mertens
