LG Display reported its financial results for Q1 2023, with revenues of 4,411 billion Won ($3.3 billion USD), down 40% from the previous quarter and 32% from 2022.
The company says there is 'sluggish demand' for TV and IT products. The company plans to focus on automotive displays, smartphone OLEDs and IT OLEDs (mid-sized panels). LG also aims to increase its sales of OLED gaming monitor panels and transparent OLED displays.
LG's OLED TV panel sales are lower than the company aimed for, as demand for TVs is still low and its inventory levels are high. The company has reportedly decided to delay its 10.5-Gen P10 OLED fab in Paju - to 2028 (LGD did not confirm this timeline).