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SEOUL, Korea (Jan. 22, 2025) – LG Display today reported unaudited earnings results based on consolidated K-IFRS (International Financial Reporting Standards) for the three-month period ending December 31, 2024.

■ Revenues in the fourth quarter of 2024 increased by 15% to KRW 7,833 billion from KRW 6,821 billion in the third quarter of 2024 and increased by 6% from KRW 7,396 billion in the fourth quarter of 2023.
■ Operating profit in the fourth quarter of 2024 recorded KRW 83.1 billion. This compares with the operating loss of KRW 80.6 billion in the third quarter of 2024 and with the operating profit of KRW 132 billion in the fourth quarter of 2023.
■ EBITDA profit in the fourth quarter of 2024 was KRW 1,306 billion, compared with EBITDA profit of KRW 1,162 billion in the third quarter of 2024 and with EBITDA profit of KRW 1,272 billion in the fourth quarter of 2023.
■ Net loss in the fourth quarter of 2024 was KRW 839 billion, compared with the net loss of KRW 338 billion in the third quarter of 2024 and with the net income of KRW 50.5 billion in the fourth quarter of 2023.

LG Display reported its 2024 annual earnings results with consolidated annual revenues of KRW 26.6 trillion and an operating loss of KRW 560.6 billion, which was reduced by about KRW 2 trillion year-on-year.

Revenues increased by 25% year-on-year as the company’s OLED-centered business structure enhancement led to a visible performance improvement. The proportion of OLED products driving total revenues increased by 7%p year-on-year to reach 55%.

In terms of profitability, LG Display was able to significantly reduce its operating loss compared to the previous year by focusing on cost reduction and operational efficiency activities across the company alongside the raised performance of its OLED-centered business.

LG Display also recorded KRW 7,833 billion in revenues in the fourth quarter of 2024, up 15% quarter-on-quarter and 6% year-on-year. Its successful turnaround saw the company record a quarterly operating profit of KRW 83.1 billion.
In particular, the proportion of fourth-quarter revenues for which OLED products were responsible jumped to a record high of 60% amid rising OLED panel shipments for smartphones. TV panels accounted for 22% of revenues in the fourth quarter, those for IT devices including monitors, laptops, and tablet PCs accounted for 28%, panels for mobiles and other devices accounted for 42%, and automobile panels accounted for 8%.

LG Display plans to improve its business and management performance by enhancing core capabilities in all areas of its OLED business to increase customer trust and by continuing to carry out cost reduction and operational efficiency activities. 

In its small- and mid-sized OLED business, the company aims to solidify its business competitiveness based on stable supply capabilities and technological leadership. Regarding OLED for mobile devices, LG Display will secure differentiated competitiveness through the preparation of future technologies required by customers, making the most of its enhanced production capabilities to reduce seasonal variability, diversify products, and expand shipments. As for OLED for IT products, the company is committed to strengthening its long-standing Tandem OLED leadership as it will also establish an efficient production response system to be aligned with the changing market environment.

With regard to its large-sized OLED business, the company will further bolster its position in the premium market by diversifying product lineups that reflect the needs of consumers, including fourth-generation OLED TVs, gaming monitors optimized for the AI TV era, and ultra-large products. The strategy is to continue qualitative growth that improves profitability through operational structure innovation, such as efficient production and sales strategies and cost reduction linked to actual demand.

Moreover, LG Display will continue to operate its automotive display business in a stable manner through differentiated products and a technology portfolio comprising Tandem-based P-OLED, Advanced Thin OLED (ATO), and high-end LTPS LCD, as well as the expansion of its customer base. The company plans to strengthen its position as the world's top player in the ever-growing automotive display market and continue to generate stable profits by accelerating cost innovation with improved manufacturing and process technology.

"Despite greater market volatility than ever, we are focusing our capabilities on continuing to improve our business performance via advancing our OLED-centered business structure and strengthening profitability through intensive cost-innovation activities," said Sung-hyun Kim, CFO and Executive Vice President of LG Display. Kim added, "We will turn around our annual earnings by further enhancing our business competitiveness."

SEOUL, Korea (January 16, 2025) – LG Display, the world’s leading innovator of display technologies, continues to lead the way in large-sized OLED technology by unveiling its fourth-generation OLED TV panel. 33% brighter than the previous generation and optimized for the AI TV era, it is the industry’s first- ever OLED display to achieve a maximum brightness as high as 4,000 nits (1 nit is the brightness produced by a candle).

Panels with both high brightness and energy efficiency are essential for AI TVs, as they use upscaling that analyzes content in real time to deliver ultra-high picture quality of up to 8K. The industry also considers higher brightness to be a key picture quality factor because it enables more vivid images that are akin to natural human vision.

LG Display’s fourth-generation OLED TV panel meets the performance demands of the most advanced AI TVs, interacting in real-time with the TV's on-device AI to deliver the perfect picture in any environment.

The new panel’s innovation centers on a Primary RGB Tandem structure, which is LG Display’s proprietary technology that uses independent stacks of RGB elements to produce light. It had previously used a three- stack light source, with two layers of blue elements emitting relatively short energy wavelengths alongside red, green, and yellow elements in a single layer.

The Primary RGB Tandem structure applied to the fourth-generation OLED TV panel organizes the light source into four stacks by adding two layers of blue elements and independent layers of red and green elements. It improves maximum brightness by increasing the amount of light produced by each layer compared to the previous structure.

As well as increasing maximum brightness, LG Display has raised the latest OLED panel generation’s color brightness. Color purity is enhanced by separating the red, green, and blue elements - the three primary colors of light - into distinct layers, resulting in a color brightness of 2,100 nits, a 40% improvement over the previous generation (1,500 nits).

In addition, energy efficiency has been maximized in line with the significantly higher expected power consumption of AI TVs. By enhancing the fourth-generation OLED TV panel’s structure and power supply system, LG Display has reduced its temperature and achieved around 20% greater energy efficiency than the previous generation (in the case of a 65-inch panel).

It also delivers a customer experience that pushes the limits of display with stunning picture quality featuring perfect blacks and rich colors in any environment.
 
In general, a display’s color reproduction is affected by external light. As the screen reflects ambient light in a bright room, black may appear gray or overlapping reflections of nearby objects might disrupt the viewing experience. For example, while watching content featuring a night sky in a living room in the middle of the day, any sense of immersion would be broken if the sky appears foggy or if reflected furniture overlaps on the screen.

To solve this customer inconvenience, LG Display has developed a special film that offsets both light reflected from the display’s surface and light absorbed and reflected inside the panel. With the advantage of this ultra-low reflection technology, the company’s fourth-generation OLED TV panel blocks 99% of internal and external light reflections, realizing perfect black just like in a movie theater with the lights off even in a midday living room setting (500 lux).

A display’s color gamut and accuracy also decrease dramatically as the viewing environment gets brighter. However, this TV panel sees virtually no change in color gamut and offers 100% color accuracy at 500 lux. It is therefore the only display to overcome the viewing environment limitations of conventional displays.

Meanwhile, the fourth-generation OLED TV panel provides differentiated customer value through human- friendly technologies, such as by emitting only 45% blue light compared with the 70-80% level that would typically be produced by an LCD screen. Blue light is known to negatively affect users' vision and circadian rhythms.

It additionally stands out as a sustainable display by adopting eco-friendly methods in the entire product life cycle from development to mass production, including using more than 90% fewer plastic raw materials than LCDs and improving the recycling rate of end-of-life product parts to over 92.7%.

LG Display will apply its fourth-generation OLED TV panel to its top-of-the-line mass-produced lineup this year to consolidate its dominance in the premium TV market.

The company then plans to gradually apply its Primary RGB Tandem technology to its Gaming OLED lineup, targeting the high-end gaming market with a diverse range of panels. This already includes the world's fastest monitor panel equipped with the industry's highest response speed and refresh rate, which are important specifications for gaming monitors, as well as bendable panels that adjust their curvature according to the gaming content.

“The fourth-generation OLED panel is the essence of innovation that exceeds the limits of existing displays by applying LG Display’s unique technologies such as Primary RGB Tandem and ultra-low reflection technology,” said Hyeon-woo Lee, Senior Vice President and Head of the Large Display Business Unit at LG Display. He added, “We will provide an unprecedented customer experience along with superior picture quality and user-friendly technology while strengthening our OLED technology leadership.”

SEOUL, Korea (November 10, 2024) – LG Display, the world’s leading innovator of display technologies, announced today its unveiling of the world’s first Stretchable display capable of expanding up to 50%, the highest rate of elongation in the industry. At LG Science Park in Seoul on Nov. 8, the company demonstrated the panel at a meeting of more than 100 South Korean industry, academia, and research stakeholders involved in a Stretchable display national project.

Stretchable displays are seen as the ultimate free-form screen technology because they can be freely transformed into any shape, including by stretching, folding, and twisting.

The new prototype features a 12-inch screen that stretches up to 18 inches, while simultaneously delivering a high resolution of 100ppi (pixels per inch) and full red, green, and blue (RGB) color.

Compared to the first Stretchable display prototype unveiled in 2022, the new panel’s maximum elongation rate has more than doubled from 20% to 50%. This enhanced stretchability enables various display design possibilities, raising the technology’s potential competitiveness when commercialized.

By applying a number of new technologies, such as improving the properties of a special silicon material substrate used in contact lenses and developing a new wiring design structure, LG Display improved the panel’s stretchability and flexibility, exceeding the original national project’s target of 20% elongation.

In addition, by using a micro-LED light source of up to 40μm (micrometers), the new prototype’s strengthened durability means it can be repeatedly stretched over 10,000 times, maintaining clear image quality even in extreme environments such as exposure to low or high temperatures and external shocks.

Stretchable displays are not only thin and lightweight but also capable of adhering to irregularly curved surfaces like clothing and skin. They are expected to be widely applied in various industries, from fashion and wearables to mobility.

The company showcased numerous concepts for the application of Stretchable displays, including an automotive panel that stretches out into a convex shape and can be operated by hand as well as a wearable display attached to firefighters' uniforms that provides real-time information.

LG Display was selected as the lead company for the national project to develop Stretchable displays in 2020 and since then has been conducting joint R&D with 19 domestic industry and research institutes. It is one of the major tasks of a wider project to develop core technologies for next-generation displays promoted by South Korea’s Ministry of Trade, Industry and Energy (MOTIE) along with the Korea Planning & Evaluation Institute of Industrial Technology.

By successfully completing the project, LG Display has not only secured core technologies that can lead the next-generation display market but also contributed to localizing materials, components, and equipment as well as building an R&D infrastructure. 

“We will continue to build a sustainable future display ecosystem through close cooperation between South Korean industry, academia, and research stakeholders,” said Soo-young Yoon, CTO and Executive Vice President of LG Display.

SEOUL, Korea (October 31, 2024) – LG Display, the world’s leading innovator of display technologies, announced today that its “color perception difference measurement method” has been adopted as the international standard technical Specification by the International Electrotechnical Commission (IEC). The company was the first in the industry to develop the measurement method.

The IEC is one of three major international standards organizations recognized by the World Trade Organization, and major global manufacturers measure product performance according to its standards.

In this context, differences in color perception refer to a phenomenon in which different viewers perceive the same color differently when it is shown on a display, resulting in color distortion. It is mainly caused by viewers’ visual characteristics, but the difference can be greater depending on the type of display. For example, the same white color can be perceived by different viewers to have either a blue or yellow tone.  

The smaller the difference, the more accurately the average viewer can see colors as they were intended to be viewed by the content creator. This makes them more reliable for tasks in industries that prioritize high color accuracy, such as image reading in the medical industry or the video production industry’s need for multiple people to collaborate on the same scene. 

Until now, the general opinion has been that the better a display’s color reproduction, the higher its color accuracy. But this does not reflect differences in viewers’ color perception. The significance of the new standard is that it provides consumers with a way to select displays that express consistent and accurate colors. 

LG Display's measurement method quantifies and calculates the difference between the machine-measured color of seven standard colors and that seen by the human eye under conditions similar to natural light. 

According to the new standard, LG Display’s large-sized OLED panels have high color accuracy, with a color perception difference of only about 10%, the lowest in the industry.

While some high-definition displays potentially cause differences in color perception by overemphasizing red, green, and blue (RGB) pixels, depending on the eye sensitivity of viewers, LG Display’s OLED panels alleviate this phenomenon by using with white organic light emitting elements to create a light spectrum that is close to natural light.

Meanwhile, Research Fellow Jang-jin Yoo from LG Display received the IEC 1906 Award on Oct.15 for his leadership in establishing the new color perception difference measurement method. The IEC grants the award annually to experts based on their outstanding achievements.

LG Display, along with LG Electronics and Disney Studio LAB, will additionally be presenting a joint research paper on color perception difference at the world’s most prestigious computer graphics technology conference, SIGGRAPH ASIA 2024, which will be held in Japan this December.

“We will continue to introduce products and technologies that provide differentiated customer value through LG Display’s OLED, which features industry-leading high brightness, infinite contrast ratio, and accurate color expression,” said Soo-young Yoon, CTO and Executive Vice President of LG Display.

SEOUL, Korea (Oct. 23, 2024) – LG Display today reported unaudited earnings results based on consolidated K-IFRS (International Financial Reporting Standards) for the three-month period ending September 30, 2024.

- Revenues in the third quarter of 2024 increased by 2% to KRW 6,821 billion from KRW 6,708 billion in the second quarter of 2024 and rose by 43% from KRW 4,785 billion in the third quarter of 2023.

- Operating loss in the third quarter of 2024 was KRW 81 billion. This compares with the operating loss of KRW 94 billion in the second quarter of 2024 and with the operating loss of KRW 662 billion in the third quarter of 2023.

- EBITDA profit in the third quarter of 2024 was KRW 1,162 billion, compared with EBITDA profit of KRW 1,287 billion in the second quarter of 2024 and with EBITDA profit of KRW 382 billion in the third quarter of 2023.

- Net loss in the third quarter of 2024 was KRW 338 billion, compared with the net loss of KRW 471 billion in the second quarter of 2024 and with the net loss of KRW 775 billion in the third quarter of 2023.

LG Display recorded KRW 6.821 trillion in revenues and KRW 81 billion in operating loss in the third quarter of 2024.

Revenues increased 2% quarter-on-quarter and 43% year-on-year, as the company’s small-sized panel shipments grew, including panels for mobile devices. In particular, the proportion of OLED products rose by 16%p year-on-year to make up 58% of revenues as LG Display continually pursued an advanced business structure centered around its OLED business.

Profitability continued to improve quarter-on-quarter and year-on-year thanks to the expanded achievement of the company’s advanced business structure and its focus on enterprise-wide cost innovation along with operational efficiency activities, although there was some impact from one-off costs due to its efforts to improve manpower management efficiency.

Panels for TVs accounted for 23% of revenues in the third quarter. Panels for IT devices, including monitors, laptops, and tablet PCs, accounted for 33%, panels for mobiles and other devices accounted for 36%, and panels for automobiles accounted for 8%.

LG Display plans to continue to expand its management performance by improving its structure through the advancement of its OLED-oriented business and focusing its capabilities on improving profitability based on operational efficiency and cost innovation activities.

In its small- and mid-sized OLED business, the company plans to solidify its competitiveness based on stable supply capabilities and technological leadership. It will seek revenue growth and secure profitability for OLED for mobile devices through rising shipments and product diversification by actively utilizing its enhanced production capacity and capabilities. Regarding OLED for IT products, the company is committed to strengthening its leadership in Tandem OLED, which features excellent durability and performance including long life, high luminance, and low power consumption. Also, it will establish an efficient response system such as ways to maximize production infrastructure in line with the changing market environment.

Regarding its large-sized OLED business, LG Display is aiming to pursue qualitative growth by improving profitability. Based on close collaboration with customers, the company will further expand its lineup of differentiated and high-end products that reflect consumer needs. These include not only ultra-large and ultra-high-definition displays but also human-friendly products that offer health benefits to users as well as gaming monitors. It will also seek innovation in its operating structure, including efficient production and sales strategies as well as cost reduction linked to actual demand.

As for its automotive display business, LG Display will continue to pursue orders related to all vehicles, such as internal combustion and electric vehicles, through its differentiated products and technology portfolio comprising P-OLED based on Tandem technology, Advanced Thin OLED (ATO), and high-end LTPS LCD. It plans to build a stable profit structure by continuously expanding its customer base, increasing its proportion of OLED products, and enhancing cost competitiveness.

"We are continually improving our performance by focusing our enterprise-wide capabilities on the advancement of our business structure, cost structure improvement, and cost innovation activities," said Sung-hyun Kim, CFO and Executive Vice President of LG Display. Kim added, "Although we expect ongoing uncertainty in the market and external environment as well as volatility in actual demand, we will continue to improve our performance gradually by focusing on profitability based on the expansion of our business structure advancement and operational efficiency."