LG Display Second Quarter 2010 Results

LG Display (LGD) reported its second quarter 2010 results on July 22nd:

  • Panel Shipments: Up 5% Q/Q to 6.45 million square meters of display area.
  • Revenue Share by Application: TV (53%), monitor (23%), notebook (19%), mobile (5%)
  • Average Utilization Rate: Almost 100%.
  • Inventory: About two weeks.
  • Average Selling Price: Up 3% Q/Q to US$863 per square meter.
  • Cash + Cash Equivalents: KRW3,212 billion
  • Liability to Equity Ratio: 107% as of June 30, 2010

Expectations for third quarter 2010:

  • Panel Shipments: Up low- to mid-teens percentage Q/Q.
  • Average Selling Price: Gradual decline, stabilize or rebound from around September

No doubt LGD’s position of primary LCD source for Apple’s iPad and iPhone 4 has benefited the company but it is hard to tell how much the company is benefiting just by looking at the announcement. For more details here is the link to the full press release.