LG Display’s 4th Quarter Margins Improve But Revenue Down Y/Y
February 04, 2019
LG Displayreported 4Q results of 6.95t won, up 14% sequentially but down 2.5% Y/Y. Gross margin was 17.0%, up Y/Y and sequentially from 14.6% and 12.3% respectively. The operating margin was 4%, up sequentially and Y/Y from 2.3% and 0.6% respectively. LGD reported a blended ASP up 12% sequentially with area shipments essentially flat a result of a shift in product mix, away from TV and monitor panels, and toward notebook, tablet, and mobile panels, which carry a higher ASP/m2. TVs reached a three year low of 36% of total revenue as LG shifts from unprofitable LCDs to OLEDs.