ESG Impact
Latest News
-
PR
LG Display’s OLED TV and Transparent OLED Displays Receive Eco-Friendly Product Certifications in Succession
SEOUL, Korea (Feb. 25, 2024) – LG Display, the world’s leading innovator of display technologies, announced today that its OLED TV and Transparent OLED displays have received one eco-friendly certification after another from global verification institutions, as the company further reduced the use of plastics while ramping up the use of recycled materials.
Through these latest certifications, OLED’s all-round technological leadership has been recognized for superb eco-friendliness on top of innovative picture quality, as proven by the company’s latest OLED TV panels with new ‘META Technology 2.0’ along with the world’s only Transparent OLEDs.
UL Solutions, a global independent safety science company, has granted its ‘Low Plastic Content’ verification to all of LG Display's OLED TV and Gaming OLED panels. Representing a first for display panels, this verification is only granted to products with plastic contents of less than 5% of a product’s total weight.
When measured internally, LG Display’s 65-inch OLED TV panel’s plastic content rate was found to be approximately 4% of the total weight, representing more than 90% less plastic usage than LCD TV panels of the same size.
Unlike LCD panels, the company's OLEDs do not require a backlight unit to emit light behind the screen, as each pixel in an OLED display emits light on its own. Moreover, OLED panels minimize the use of film sheets, allowing a significant plastic reduction. LG Display has additionally cut plastic usage by replacing major OLED panel parts with recyclable materials, while increasing its recycling rate of parts to 92.7% when disposing of products.
Moreover, the company’s third-generation OLED TV panels with advanced 'META Technology 2.0' maximize light emission from organic light-emitting components, resulting in approximately 22% higher energy efficiency than conventional OLEDs of the same brightness, thus reducing power consumption.
Meanwhile, LG Display's Transparent OLED, mass-produced only by LG Display in the world, obtained the Eco-Product Certification Mark from SGS, a Swiss-based global leader in inspection, verification, testing, and certification.
This certification is only granted to products that comply with global environmental regulations and meet SGS's eco-friendly evaluation criteria spanning across the entire product life cycle, from production to
consumer use to disposal. This marks the first eco-friendly certification for Transparent OLED and is an achievement that will help shape the industry’s environmental standards for next-generation displays.
LG Display’s Transparent OLED panel received high scores in the resource efficiency, energy efficiency, and minimal use of harmful substances categories, with all its components comprising up to 23% recycled materials, while also adhering to the EU’s REACH regulations on chemical substance management by refraining from using any of over 200 types of high-risk substances.
Since 2021, LG Display's efforts to develop eco-friendly products has seen it implement a life cycle evaluation (LCA) technique that comprehensively assesses all environmental impacts that may occur in the product life cycle. Through this approach, the company has achieved reduction in material and component usage, minimized greenhouse gas emissions and, energy consumption during manufacturing, and waste reduction in disposal stages, on top of the development of highly energy-efficient products.
Furthermore, the company has established a roadmap for developing mid- to long-term energy-saving products to enable consumers to further reduce power consumption, while also continuously developing low-carbon OLED technology processes and component reduction techniques.
“We are committed to proactively advancing environmental-friendly OLED development in response to ESG trends, while simultaneously actively promoting the technological excellence of LG Display's OLED panels, which not only offer outstanding picture quality but also demonstrate a focus on environmental,” said Min-kyu Jin, Head of the Large Display Promotion Division at LG Display.
2024-02-25 -
PR
LG Display’s Automotive OLED Displays Receive ‘Product Carbon Footprint’ Certification
SEOUL, Korea (Jan. 25, 2024) – LG Display, the world’s leading innovator of display technologies, announced today that its automotive OLED displays have become the first to receive the ‘Product Carbon Footprint (PCF)’ certification for automotive OLED displays from TÜV Rheinland, a leading global independent testing, inspection and certification body.
This certification has been granted to two models (Auto Display Module – Base Model) for complying with the International Standard for Carbon Emission Measurement (ISO 14067:2018) and undergoing TÜV Rheinland’s critical evaluation of carbon emissions generated from design to production and disposal.
By incorporating LG Display’s independently developed ‘Light Control Film Integration Technology,’ the film enhances visibility by controlling the direction of light within the panel, which also reduces its carbon emissions by up to 18% compared to previous standards. Added benefits of this technology include production simplification, reduced weight, and enhanced energy efficiency compared to conventional panels that use external films.
LG Display’s Light Control Film Integration Technology is being applied to the company’s automotive display products such as P-OLED and Advanced Thin OLED (ATO). P-OLED utilizes a flexible plastic substrate to achieve a slim, lightweight, and flexible panel that consumes 60% less power and is 80% lighter than most LCD displays. Meanwhile, ATO aims to expand the automotive OLED market with its competitive price point by replacing P-OLED’s plastic substrate with a glass substrate.
LG Display’s automotive displays incorporate the company’s pioneering Tandem OLED, a groundbreaking two-stack OLED technology that adds an extra organic emitting layer for brighter screens, optimal stability, and longer lifespans compared to single-layer OLEDs. The company’s second-generation Tandem OLED, which has been in production since last year, features higher brightness and enhanced durability while reducing power consumption by 40%.
In alignment with the world’s growing preference for eco-friendly automotive components, LG Display is actively developing automotive display technologies and products that minimize their environmental impact.
This latest certification comes after the company’s automotive OLED and LTPS LCD displays obtained the Eco-Product Certification Mark from SGS, a global inspection and certification organization, for minimizing the use of hazardous substances and realizing greater energy efficiency.
"By making our differentiated technologies, such as Tandem OLED and SPM (Switchable Privacy Mode), more environmentally friendly, we are further cementing our position as the global leader of automotive displays,” said Keuk-sang Kwon, Vice President and Head of Auto Product Development Division at LG Display.
2024-01-25 -
PR
LG Display Reports Fourth Quarter 2023 Results
SEOUL, Korea (Jan. 24, 2024) – LG Display today reported unaudited earnings results based on consolidated K-IFRS (International Financial Reporting Standards) for the three-month period ending December 31, 2023.
* Revenues in the fourth quarter of 2023 increased by 55% to KRW 7,396 billion from KRW 4,785 billion in the third quarter of 2023 and increased by 1% from KRW 7,302 billion in the fourth quarter of 2022.
* Operating profit in the fourth quarter of 2023 recorded KRW 132 billion. This compares with the operating loss of KRW 662 billion in the third quarter of 2023 and with the operating loss of KRW 876 billion in the fourth quarter of 2022.
* EBITDA profit in the fourth quarter of 2023 was KRW 1,272 billion, compared with EBITDA profit of KRW 382 billion in the third quarter of 2023 and with EBITDA profit of KRW 209 billion in the fourth quarter of 2022.
* Net income in the fourth quarter of 2023 was KRW 51 billion, compared with the net loss of KRW 775 billion in the third quarter of 2023 and with the net loss of KRW 2,094 billion in the fourth quarter of 2022.LG Display recorded KRW 7.396 trillion in revenues and KRW 132 billion in operating profit in the fourth quarter of 2023.
This 55% quarter-on-quarter revenue increase was driven by the rise in panel shipments for OLED mobile devices, TVs, and IT products in response to seasonal demand.
LG Display successfully achieved a turnaround and has returned to profitability for the first time in seven quarters thanks to the improved profitability spurred on by the expansion of high-value-added products centered on OLED, as the results of the advancement of the business structure became visible. This increase was also driven by the company’s continued pursuit of intensive cost reduction activities, such as efforts in cost innovation and enhancing operational efficiency.
Panels for TVs accounted for 18% of revenues in the fourth quarter. Panels for IT devices, including monitors, laptops, and tablet PCs, accounted for 31%, while panels for mobiles and other devices
accounted for 44% and panels for automobiles accounted for 7%. All in all, OLED’s overall revenue contribution rose to 57%.LG Display plans to focus its capabilities on substantially strengthening its competitiveness and business base in all areas of its OLED business sectors, including large-sized panels as well as panels for IT, mobile devices, and automobiles. The company will also focus on securing a stable profit structure and creating customer value.
In the large-sized OLED business, LG Display will strengthen its customer base to expand shipments and enhance business competitiveness through cost innovations in yield, productivity, and materials. Meanwhile, it also plans to further improve profitability by reinforcing its position in the premium TV market by applying its groundbreaking “META Technology 2.0” to large-sized and ultra-large-sized OLED TV panels. This new technology significantly enhances key aspects of image quality such as luminance.
For the small- and mid-sized OLED business, the company will make full-fledged efforts to expand its order- based business and strengthen competitiveness. LG Display also aims to develop a seamless production and supply system of OLED panels for IT devices featuring Tandem technology, which offers enhanced durability and brightness. In addition, the company will steadily expand shipments of OLEDs for mobile devices through its increased production capacity.
In the automotive display business, LG Display plans to solidify its number one position in the global market by expanding its customer base, securing more orders, and facilitating revenue growth by leveraging its differentiated products and technological competitiveness, including Tandem technology-based P-OLED, Advanced Thin OLED (ATO) and high-end LTPS LCD. LG Display has already secured ten premium global automakers within just four years of initiating the mass production of its automotive displays in 2019.
“Although market volatility will continue this year due to prolonged unstable macroeconomic conditions, we will focus on creating customer value and securing profitability by strengthening the competitiveness of our OLED businesses and future growth bases. We will also continue to secure preemptive funds, carry out enterprise-wide cost innovation activities, and strive to achieve operational efficiency in order to secure financial soundness and further enhance business stability, which will lead to improved performance compared to last year,” said Sung-hyun Kim, CFO and Executive Vice President at LG Display.
2024-01-24