LG Display reported its financial results for Q3 2021. Revenues increased 7% from Q3 2020 to reach 7,223 billion KRW ($6.2 billion USD) while net income was 463 billion KRW ($396 million USD).
LGD says that it enjoyed high demand for IT panels, and its large-size OLED business continues to "strengthen its position in the market as the premium TV sector continues to grow". LGD expects to ship 8 million OLED TV panels in 2021, with record annual profit.
LGD also comments that its small to mid-size p-OLED business has been stabilized, after suffering large losses in 2020. By increasing production volume, LGD hopes to turn its p-OLED business into profits soon.
LGD made an interesting remark on future customers for its OLED TV panels. The company has been focused on traditional TV set makers, but it is now looking with other potential customers, and it believes it will be able to acquire new customers who are not TV makers.