LG Chem Full-Year Report 2023

LG Display recorded KRW 7.396 trillion in revenues and KRW 132 billion in operating profit in the fourth quarter of 2023.

• This 55% quarter-on-quarter revenue increase was driven by the rise in panel shipments for OLED mobile devices, TVs, and IT products in response to seasonal demand.

LG Display successfully achieved a turnaround and has returned to profitability for the first time in seven quarters thanks to the improved profitability spurred on by the expansion of high-value-added products centered on OLED, as the results of the advancement of the business structure became visible. This increase was also driven by the company’s continued pursuit of intensive cost reduction activities, such as efforts in cost innovation and enhancing operational efficiency.

Panels for TVs accounted for 18% of revenues in the fourth quarter. Panels for IT devices, including monitors, laptops, and tablet PCs, accounted for 31%, while panels for mobiles and other devices

accounted for 44% and panels for automobiles accounted for 7%. All in all, OLED’s overall revenue contribution rose to 57%.

LG Display plans to focus its capabilities on substantially strengthening its competitiveness and business base in all areas of its OLED business sectors, including large-sized panels as well as panels for IT, mobile devices, and automobiles. The company will also focus on securing a stable profit structure and creating customer value.