LG Display reports its financial results for Q3 2023, expects to return to profitability next quarter

LGD reported its financial results for Q3 2023, saying that revenues were almost flat from last quarter as the industry faces an intense inventory correction and demand is slow to recover.

LG Display 17-inch foldable tandem OLED display demo

LGD's revenues were 4.785 trillion Won (around $3.5 billion USD) with an operating loss of 662 billion Won (or around $490 million USD).


LG Display is optimistic about the current quarter (2023 Q4), saying that it "expects  to achieve a turnaround in profit in the fourth quarter as excessive panel inventory adjustments are eased in downstream industries". The company sees increased shipments of mid- and large-sized OLED displays as device makers are increasing orders to meet year-end seasonal demand.

Posted: Oct 27,2023 by Ron Mertens