LG Display

SEOUL, Korea (May 13, 2024) – LG Display, the world’s leading innovator of display technologies, announced today that its research paper on OLEDoS for virtual reality (VR) has been selected as a Distinguished Paper of the Year by the Society for Information Display (SID), the world’s most prestigious display organization, at SID Display Week 2024. The company has been recognized for its technical leadership in the next-generation of displays.

LG Display’s paper is focused on examining ultra-high brightness and ultra-high resolution OLEDoS for VR, having developed OLEDoS by introducing major technologies that have significantly improved its performance.

Out of more than 500 papers submitted by display researchers around the world, only the top 5% that publicize truly outstanding results are recognized for their excellence each year by SID.

As it is OLED deposited on a silicon wafer substrate, OLEDoS is attracting attention as a way to deliver AR and VR in high definition even on the micro scale. In particular, VR displays require higher screen brightness and resolution than general displays to increase the viewer’s sense of immersion when external light is blocked.

LG Display’s research team has been recognized for successfully achieving a brightness of 10,000 nits, a 40% enhancement over the existing standard, by combining its newly developed high-performance OLED elements with its own development of OLED light extraction maximization technology called Micro Lens Array (MLA).

If a high-performance OLEDoS display is used in VR devices, it is expected to provide a more vivid and lifelike virtual reality experience.

LG Display will present fifteen next-generation display research papers at Display Week 2024, including the results of its OLEDoS research. It will propose a technology that improves the three-dimensional effect of a glasses-free light field display and a performance measurement method for stretchable displays that can be stretched up, down, left, and right.

In addition, the company plans to present its production process optimization research results while also promoting its differentiated technological leadership. These results will feature a high-efficiency OLED light emitting element design and defect prediction system, both of which were developed using artificial intelligence.

“We will continue to create new customer value and strengthen our technological competitiveness through next-generation display research and development that implements ultra-high brightness and resolution,” said Soo-young Yoon, CTO and Executive Vice President at LG Display.

Seoul, Korea (Apr. 29, 2024) – LG Display Co., Ltd. (NYSE: LPL) filed its annual report on Form 20-F for the year ended December 31, 2023 with the U.S. Securities and Exchange Commission on April 29, 2024 EDT. The report can be downloaded at www.lgdisplay.com or at www.sec.gov. Investors may request a hard copy of the company’s complete audited financial statements, included in the report, free of charge by emailing ir@lgdisplay.com.

About LG Display

LG Display Co., Ltd. [NYSE: LPL, KRX: 034220] is the world’s leading innovator of display technologies, including thin-film transistor liquid crystal and OLED displays. The company manufactures display panels in a broad range of sizes and specifications primarily for use in TVs, notebook computers, desktop monitors, automobiles, and various other applications, including tablets and mobile devices. LG Display currently operates manufacturing facilities in Korea and China, and back-end assembly facilities in Korea, China, and Vietnam. The company has approximately 66,418 employees operating worldwide. For more news and information about LG Display, Please visit www.lgdisplay.com

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SEOUL, Korea (Apr. 28, 2024) – LG Display, the world’s leading innovator of display technologies, announced today its supply of Transparent OLED displays to a train for the first time in Korea, as they have been installed on the country’s newly launched Great Train eXpress (GTX).

As one of the world's fastest underground rail services, operating at approximately three times the speed of conventional subway trains, GTX connects major hubs in Seoul with the greater metropolitan area.

LG Display’s groundbreaking 55-inch Transparent OLEDs, installed as GTX-A cabin windows, are expected to create a comfortable and smart on-board experience by displaying varied content such as the route map, announcements, and other convenient information. 

In particular, the crisp, large-sized displays provide new customer experiences for passengers, from increased visibility for easier access to information to a variety of entertainment options for long journeys.

Unlike ordinary displays, Transparent OLEDs used as train windows can function like conventional glass to provide a sense of open space and increased safety by being able to check outside in emergency situations.

Special tempered glass has been used to make the Transparent OLEDs more resistant to shocks and vibrations compared to the past so that they can operate stably even on trains running at speeds of more than 150 kph, and they have passed the standard Korean railway test.

LG Display and SG Rail, GTX-A’s project operator, have initially introduced and piloted 16 Transparent OLEDs on a train made up of eight cars running on the inaugural GTX line between Suseo and Dongtan., Going forward, they plan to install Transparent OLED panels across all of the trains servicing the GTX-A line after collecting feedback from passengers.

LG Display's Transparent OLED track record on railways since 2020 includes subway systems in major Chinese cities such as Beijing, Fuzhou, and Shenzhen, as well as JR East services in Japan.

The company’s Transparent OLED is the world’s only technology of its kind that has reached mass-production capabilities while maximizing the advantages of OLED’s self-emissive pixels. It has been actively adopted in various areas such as retail, signage, architecture, and mobility because it generates less heat than traditional LEDs, making it ideal for indoor use and transparent enough to replace glass windows while remaining thin and light. 

"Through collaboration with a wide variety of different industries, we will continue to create new markets based on the innovative customer experience that only Transparent OLEDs can provide." said an official from LG Display. 

SEOUL, Korea (Apr. 25, 2024) – LG Display today reported unaudited earnings results based on consolidated K-IFRS (International Financial Reporting Standards) for the three-month period ending March 31, 2024.

- Revenues in the first quarter of 2024 decreased by 29% to KRW 5,253 billion from KRW 7,396 billion in the fourth quarter of 2023 and increased by 19% from KRW 4,411 billion in the first quarter of 2023.
- Operating loss in the first quarter of 2024 was KRW 469 billion. This compares with the operating profit of KRW 132 billion in the fourth quarter of 2023 and with the operating loss of KRW 1,098 billion in the first quarter of 2023.
- EBITDA profit in the first quarter of 2024 was KRW 810 billion, compared with EBITDA profit of KRW 1,272 billion in the fourth quarter of 2023 and with EBITDA loss of KRW 80 billion in the first quarter of 2023.
- Net loss in the first quarter of 2024 was KRW 761 billion, compared with the net income of KRW 51 billion in the fourth quarter of 2023 and with the net loss of KRW 1,153 billion in the first quarter of 2023.

LG Display recorded KRW 5.253 trillion in revenues and KRW 469 billion in operating loss in the first quarter of 2024.

Revenues fell quarter-on-quarter due to slow seasonality but rose 19% year-on-year as shipments of panels for TVs and monitors expanded and mass production of OLEDs for IT devices began.

Meanwhile, LG Display reduced its losses compared with the same period last year by continuously advancing its OLED-centered business structure and implementing intense cost-reduction activities.

Panels for TVs accounted for 22% of revenues in the first quarter. Panels for IT devices, including monitors, laptops, and tablet PCs, accounted for 40%, while panels for mobiles and other devices accounted for 28%, and panels for automobiles accounted for 10%.
LG Display plans to expand the proportion of high value-added products in all areas of its business, including TV, IT, mobile, and automotive panels, while continuing efforts to improve its cost structure and operational efficiency, and focusing on strengthening its business performance and earnings.

Regarding the large-sized OLED business, LG Display is aiming to solidify its OLED leadership position in the premium TV market. In order to achieve this goal, the company will expand its customer base centered around ultra-high definition and ultra-large-sized OLED TV panels featuring “META Technology 2.0,” which increases screen brightness by about 42% compared with conventional OLED TV panels. It will also expand its portfolio of high value-added products such as gaming monitors and deploy cost innovation efforts.

In the small- and mid-sized OLED business, mass production of OLED panels for IT devices has been carried out without a hitch based on LG Display’s stable supply capabilities and technological leadership through innovations such as Tandem OLED technology with excellent durability and performance including long life, high luminance, and low power consumption. In the case of OLED panels for mobile devices, the company plans to grow shipments by actively utilizing its expanded production capacity and continue to increase its market share in the high-end market.

In the automotive display business, LG Display will maintain efforts to strengthen its status as the world's leading company by expanding its customer base and growing orders and sales based on its competitive advantages in differentiated products and technologies such as Tandem technology-based P-OLED, Advanced Thin OLED (ATO), and high-end LTPS LCDs.

"Despite the continued uncertainty and volatility of the market and external environment, we will increase the proportion of high-end products and focus our company's capabilities on improving our cost structure and enhancing operational efficiency to strengthen our business competitiveness as well as future business base and secure a stable profit structure," said Sung-hyun Kim, CFO and Executive Vice President at LG Display.

SEOUL, Korea (Apr. 23, 2024) – LG Display, the world’s leading innovator of display technologies, announced today that it has developed the first-ever Gaming OLED panel with a switchable refresh rate and resolution. The company has begun mass production of the 31.5-inch panel this month, accelerating its push into the high-end gaming display market with new concept products.

This groundbreaking Gaming OLED panel allows users to freely choose between a high refresh rate (FHD∙480Hz) and a high-resolution mode (UHD∙240Hz) depending on the content. 

In high refresh rate mode, users can enjoy games where speed and screen changes are particularly important, such as first-person shooter (FPS) or racing genres. Switching to high-resolution mode offers an exceptionally immersive experience watching movies with rich visual effects or high-definition 4K content. By comparison, conventional panels have a fixed resolution even when the refresh rate is changed, limiting their versatility for multiple applications.

Refresh rate refers to the number of images displayed on a monitor per second, while resolution represents the number of pixels that a screen can show. The higher the refresh rate, the smoother and sharper the images appear even during fast screen transitions, while a higher resolution enables more precise video and image quality. 

LG Display’s advanced solution is Dynamic Frequency & Resolution (DFR), its own independently developed new technology. With the arrival of DFR, users can choose which to prioritize between refresh rate and resolution by adjusting the image processing speed. IT has been applied for the first time with LG Display's 31.5-inch Gaming OLED panel.

The company’s Gaming OLED panel is also equipped with other LG Display technologies to enhance its immersive experience. These include META Technology 2.0 based on the company's Micro Lens Array (MLA) innovation, which maximizes the emission of light from organic materials to elevate image quality. Also, Thin Actuator Sound technology, which directly generates sound from the screen without a separate speaker, has been adopted to provide more vivid sound. 

LG Display plans to supply its new 31.5-inch Gaming OLED panel to global gaming gear brands, starting with LG Electronics. The company is accelerating its expansion into the high-end gaming display market from this year with a full lineup of Gaming OLED panels spanning 27, 31.5, 34, 39, and 45 inches.

Unlike LCDs, which require backlighting, the company’s Gaming OLED panels are self-emissive, enabling each pixel to produce perfect blacks and lifelike image quality. With an ultra-high refresh rate (480Hz), they also have the fastest response time (0.03ms) of any panel on the market. 

Moreover, Gaming OLEDs have less potential to cause eye fatigue than LCD screens even during long gaming sessions, as they emit half the amount of blue light and produce no headache-associated flicker.

"We will create new customer value with OLED's differentiated technologies - such as by offering perfect blacks, fast response times, and ultra-high refresh rates - and strengthen our leadership in the high-end gaming display market," said Won-seok Kang, Vice President and Head of the Large Display Product Planning Division at LG Display.