LG Display posted a net profit of 891 billion won ($663 million) in the second quarter, reversing from losses in previous periods despite revenue declining 8% quarter-over-quarter to 5.59 trillion won ($4.2 billion) as smartphone demand weakened during the traditional off-season.
The company recorded an operating loss of 116 billion won, compared with an operating profit of 33.5 billion won in the first quarter. However, the net profit turnaround came from foreign exchange gains and proceeds from selling its stake in a Guangzhou LCD factory.
For the first half, LG Display’s operating loss narrowed significantly to 82.6 billion won from 563.1 billion won a year earlier, while revenue dropped 3% to 11.65 trillion won. The Seoul-based panel maker has been restructuring around OLED technology, with OLED products now representing 56% of total sales, up 4 percentage points from the same period last year.
The quarterly results reflect the company’s ongoing transition away from LCD television panels while facing seasonal headwinds in mobile display shipments. LG Display has begun mass production of its fourth-generation OLED panels featuring Primary RGB Tandem technology, which delivers up to 1,500 nits brightness for gaming monitors.
Chief Financial Officer Kim Sung-hyun said the company expects “a sharp rebound in earnings with expanded performance across our OLED business” in the second half, citing improvements in cost structure and operational efficiency. The company is accelerating debt reduction ahead of schedule while targeting a return to annual profitability.
