LG Display LCD Sales Increase 8% Q/Q in Q4’08

LG Display (LPL) announced earnings results for Q4’08 on January 16, 2009. Sales in Q4’08 increased 8% Q/Q and decreased 4% Y/Y to KRW 4,156 billion. LPL experienced an operating loss of KRW 288 billion in Q4’08 from an operating profit of KRW 254 billion in Q3’08. Net loss in Q4’08 was KRW 684 billion a complete reversal from a KRW 295 billion net profit.

The net loss in Q4’08 included the entire US$400 million fine related to the antitrust investigation of the LCD industry in the US market. The fine will be paid over five years starting in 2009.

LPL shipped 3.86 million square meters of net display area in Q4’08, up 5% Q/Q. LCD panel shipments for LCD TV applications accounted for 57% of the total revenue, LCD monitors 20%, notebook PCs 18% and mobile applications 5%. LCD fab utilization rates averaged 80% in Q4’08. In terms of future investments toward capacity, on January 16, 2009 the Board of Directors approved  KRW 577 billion for a new LTPS (Low Temperature Poly-Silicon) LCD fabrication plant in Korea for themanufacture of LCDs geared for mobile applications.

LPL expects a decrease by “a low single digit percentage” of total net display area shipment in Q1’09. The company expects a limited possibility for further price declines compared to the end of 2008.

Source: LG Display

[tags]LG Display, LPL, Display Manufacturer, LCD Manufacturer[/tags]

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