South Korea's panel maker Lejin Display (LGD) released its fourth-quarter earnings report last year. Due to the global economic recession and the continued impact of China's panel makers, panel prices fell sharply. LGD turned into a loss of 14 billion won in the fourth quarter of last year. This is the first loss of LGD since the second quarter of 2012.
South Korean panel maker Lejin Display (LGD) released its fourth quarter earnings report last year.
According to LGD's financial report, revenue in the fourth quarter of 2015 was 7.49 trillion won, up 5% in the quarter, but the operating profit declined to 61 billion won and turned into a loss of 14 billion yuan after tax.
In 2015, LGD's revenue was 28.38 trillion won, with an annual growth rate of 7%. The operating profit was 1.62 trillion won, an annual increase of 20%. The profit for the quarter was 1.02 trillion won, which was also 12% higher than that of 2014.
LGD Finance Don Kim said that due to oversupply in the panel industry and the impact of off-season factors, panel prices in the first quarter of 2016 will remain weak, but it is expected that high-end market demand will not fall, LGD will continue to improve its product portfolio, focusing on bringing Profitable high-end products, including OLED.
LGD is the main supplier of Apple's various panel products. In the fourth quarter of last year, the TV panel accounted for 34% of the revenue in the LGD product portfolio, and the mobile device was increased to 32% based on mobile phone panels. 19%, the display accounted for about 15% of revenue.
LGD unexpectedly turned into a loss last year. Taiwanese AUO will hold an online law conference tomorrow (28th). As AUO proposed a loss of 6.75 billion yuan in one-time assets of its subsidiary M.Setek in the fourth quarter of last year, it is expected that AUO last year. The fourth quarter will also turn into a loss, ending the 10 consecutive quarters of profit since the second quarter of 2013.
