LG Display

SEOUL, Korea (Jul. 25, 2024) – LG Display today reported unaudited earnings results based on consolidated K-IFRS (International Financial Reporting Standards) for the three-month period ending June 30, 2024.

- Revenues in the second quarter of 2024 increased by 28% to KRW 6,708 billion from KRW 5,253 billion in the first quarter of 2024 and rose by 42% from KRW 4,739 billion in the second quarter of 2023.
- Operating loss in the second quarter of 2024 was KRW 94 billion. This compares with the operating loss of KRW 469 billion in the first quarter of 2024 and with the operating loss of KRW 881 billion in the second quarter of 2023.
- EBITDA profit in the second quarter of 2024 was KRW 1,287 billion, compared with EBITDA profit of KRW 810 billion in the first quarter of 2024 and with EBITDA profit of KRW 130 billion in the second quarter of 2023.
- Net loss in the second quarter of 2024 was KRW 471 billion, compared with the net loss of KRW 761 billion in the first quarter of 2024 and with the net loss of KRW 699 billion in the second quarter of 2023.

LG Display recorded KRW 6.708 trillion in revenues and KRW 94 billion in operating loss in the second quarter of 2024.

Revenues increased 28% quarter-on-quarter and 42% year-on-year, growing in all areas of its business, including TV, IT, mobile, and automotive displays. In particular, the proportion of OLED products rose by 10%p year-on-year to make up 52% of revenues.

Profitability improved significantly through the achievement of an advanced business structure, including the start of full-scale mass production of OLED panels for IT products, the expansion of large-sized OLED panel production, and the impact of favorable exchange rates.

Panels for TVs accounted for 24% of revenues in the second quarter. Panels for IT devices, including monitors, laptops, and tablet PCs, accounted for 44%, while panels for mobiles and other devices accounted for 23%, and panels for automobiles accounted for 9%.

LG Display plans to focus its capabilities on securing a stable profit structure and create differentiated customer value by continuing to advance its business structure in order to strengthen its OLED-oriented business competitiveness and expand the proportion of its high value-added products, as well as increasing the company’s responsiveness to market conditions through operational efficiency.

Regarding its large-sized OLED business, LG Display is aiming to further strengthen its position in the premium TV market by expanding its differentiated and high-end product lineups based on close collaboration with customers as well as securing profitability through product competitiveness and cost innovation.

In the small- and mid-sized OLED business, the company plans to increase its share in the high-end market by expanding panel shipments compared to the previous year based on the active utilization of its enhanced capability and capacity to produce OLED panels for mobile devices. In regard to OLED panels for IT devices, it has started stable mass production and smooth shipments of Tandem OLED for IT products, which feature excellent durability and performance including long life, high luminance, and low power consumption.

As for the automotive display business, LG Display seeks to strengthen its position as the world's leading player in the market by continuously expanding its orders and customer base. The company is aiming to achieve this by using its differentiated products and technologies such as Tandem technology-based P-OLED, Advanced Thin OLED (ATO), and high-end LTPS LCDs, as well as leveraging solid customer relationships.

Regarding its LCD business for IT products, the company will continue to enhance profitability by focusing on high-end products such as those featuring low power consumption along with differentiated design and picture quality.

"We are improving our performance and solidifying our financial stability year-on-year through the advancement of our business structure, cost structure improvement, cost innovation, and operational optimization activities," said Sung-hyun Kim, CFO and Executive Vice President of LG Display. Kim added, "Although we expect ongoing uncertainty and volatility in the market and external environment in the second half of the year, we will continue to expand our business structure advancement and to improve our performance through operational efficiency."

SEOUL, Korea (July 22, 2024) – LG Display, the world’s leading innovator of display technologies, announced today that its OLED TV panels have been confirmed to be excellent for helping viewers maintain healthy sleep patterns.  

The company recently completed a clinical study to verify the impact of TV panels on sleep, in conjunction with researchers from Seoul’s Kookmin University. During the two-week study, they measured levels of the sleep-inducing hormone melatonin in 40 adult men and women divided into groups watching the same content on either LCD or OLED TVs.  

While the LCD TV group's melatonin secretion fell 2.7% over two hours, it increased 8.1% in the OLED TV group.

The human body needs melatonin to rise in the evening to prepare for sleep. However, blue light emitted from displays is known to disturb melatonin secretion, potentially leading to sleep disorders.

In general, LCD panels emit 70-80% blue light due to their continuous reliance on a strong backlight, compared with just 36% blue light from LG Display's self-emissive, and therefore backlight-less, OLED TV panels.

"In addition to minimizing the negative impact on melatonin secretion during viewing time, OLED TVs have been shown to be effective in maintaining viewers’ healthy sleep patterns through greater activation of their parasympathetic nerves, which are responsible for feelings of comfort," said Prof. Kim Chang-wook, who led the research team.

The results of the study confirm previous recognition of LG Display’s OLED panels as supportive of eye and body health, including being optimized to protect viewers’ circadian rhythms. Last year, the company’s OLED TV and monitor panels were the first in the industry to be certified as “Circadian Friendly” by TÜV Rheinland, a leading global independent testing, inspection and certification body.

Moreover, with the lowest level of blue light emissions among all existing TV panels and absence of screen flicker, a phenomenon that can cause vision loss, the company’s OLED TV panels have earned the “Eyesafe” certification created by U.S.-based Eyesafe in association with TÜV Rheinland, along with “Flicker Free” and “Discomfort Glare Free” verifications from UL, a leading global safety science company.

"We will introduce products and technologies that can provide differentiated customer value based on OLED panels that are safe for the human body while offering the best image quality," said Soo-young Yoon, CTO & Executive Vice President at LG Display.

SEOUL, Korea (June 24, 2024) – LG Display, the world’s leading innovator of display technologies, announced today that it has started mass production of the industry’s first 13-inch Tandem OLED panel for laptops. 

The company is targeting the OLED market with the higher performance and lower power consumption of Tandem OLED technology. First commercialized by LG Display in 2019, Tandem OLED’s advantages are achieved by combining two stacks of red, green, and blue (RGB) organic light emitting layers. Working together in tandem, these layers offer superior durability and performance compared to single-layer OLED panels, including a longer life span and higher brightness.

Tandem OLEDs were first applied to automotive OLEDs, which have particularly high quality standards, to disperse energy and allow them to operate more reliably for longer periods of time. They are also considered optimal for IT products that require a relatively high amount of screen time, such as laptops, monitors, and tablets.

Now applied to laptops for the first time, LG Display’s new Tandem OLED panel has been tailored for laptop use. It can deliver double the lifespan and triple the brightness of a conventional single-layer OLED display, while reducing power consumption by up to 40%, making it ideal for high-performance IT devices like AI laptops as well as regular laptops.

By designing the components and enhancing the structure of the 13-inch Tandem OLED panel, LG Display has been able to make it around 40% thinner and 28% lighter than existing OLED laptop screens, enabling sleek design and greater portability.

The new panel combines convenience and performance with high definition. It boasts a WQXGA+ (2880x1800) high resolution and accurate color expression that meets 100% of the DCI-P3 standard color area established by the Digital Cinema Initiatives (DCI), allowing high-definition content to be presented with increased clarity.

With OLED’s characteristic self-emissive pixels and infinite contrast ratio, it has also been certified as Display HDR (High Dynamic Range) True Black 500 by the Video Electronics Standards Association (VESA). This confirms its ability to show both bright and dark images so well that it enhances their three-dimensionality and produces a display quality that is as close as possible to what the human eye naturally sees.

In addition, LG Display embedded a touch sensor inside the panel to improve touch performance and realized a highly sensitive total touch solution. As a result, it provides a precise touch experience.

"We will continue to strengthen the competitiveness of OLED products for IT applications and offer differentiated customer value based on distinctive strengths of Tandem OLED, such as long life, high brightness, and low power consumption," said Jae-Won Jang, Vice President and Head of the Medium Display Product Planning Division at LG Display.

SEOUL, Korea (May 14, 2024) – LG Display, the world’s leading innovator of display technologies, announced today the unveiling of a large number of its next-generation OLED and cutting-edge display technologies at SID Display Week 2024 in San Jose, California from May 14-16.

LG Display is allowing visitors to experience new OLED technologies under the theme “A Better Future,” ranging from OLEDoS for VR to large-sized OLED panels that go beyond the limits of picture quality and automotive display solutions that are optimized for Software Defined Vehicles (SDV).

The company’s latest innovations include a new technology, OLEDoS for VR, which is being shown to the public for the first time and features dramatically increased screen brightness and resolution compared with the existing standard. Despite being the size of a coin at 1.3-inch, it achieves an ultra-high brightness of 10,000 nits and an ultra-high resolution of around 4,000 ppi, which is in the 4K class. In addition, its color expression accuracy is realized by meeting more than 97% of the DCI-P3 standard color area of the Digital Cinema Initiatives (DCI).  All these enable more lifelike virtual reality with industry-leading picture quality.

Made up of 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.

OLEDoS for VR combines a newly developed high-performance OLED element with the company’s Micro Lens Array (MLA), a technology that maximizes light emittance, to improve brightness by about 40% compared with the standard level.

MLA enhances brightness by allowing a layer of micrometer-sized convex lenses, which are so tiny that they are invisible to the naked eye, to emit light that would otherwise have been lost in the panel’s internal reflection.

LG Display is additionally exhibiting OLEDoS for smartwatches, the first of its kind. At 1.3-inch in size, it features a 4K resolution that allows content to be displayed clearly even on the wrist. It is also equipped with glasses-free 3D technology called light field technology, which has holographic-like effects.

Also at SID Display Week 2024, the company is emphasizing its unrivaled large-sized OLED leadership by demonstrating 83-inch OLED TV and Gaming OLED panels. Both of these products feature LG Display’s META Technology 2.0, which delivers 42% brighter images than conventional OLEDs. With brightness representing one of the key elements of picture quality, META Technology 2.0 realizes 3,000 nits, the brightest level among existing OLED TV panels.

META Technology 2.0’s performance is underpinned by the META Multi-Booster and Detail Enhancer display enhancement algorithms in combination with MLA+, made up of 42.4 billion micro lenses. Together, they make it possible to clearly and vividly express abundant natural colors and brightness in any environment as if seen with real eyes.

In addition, visitors can witness LG Display’s 27-inch 480 Hz QHD Gaming OLED panel. This first OLED display to implement a 480 Hz refresh rate provides an optimal gaming experience through exceptionally smooth and clear screen transitions in fast-paced games.

Moreover, the company is showcasing a 39-inch Ultra-Wide Gaming OLED panel. Its 21:9 ratio screen with a curvature of 800R (about the curvature of a circle with a radius of 800mm) maximizes immersion by providing the same viewing distance from both the center and edges of the screen.

LG Display is also exhibiting automotive display solutions optimized for SDVs, including high-definition OLEDs for vehicles and LTPS LCDs, which are the company’s differentiated technologies. Advanced Thin OLED (ATO) for vehicles is 20% thinner than general glass substrate OLEDs. This enables a sleek design and increases price competitiveness while maintaining the excellent picture quality of OLEDs.

LG Display’s OLEDs for vehicles additionally feature Tandem OLED technology, which it developed as an industry first in 2019. Tandem OLED is a method of stacking two organic light emitting layers and is characterized by superior durability with high brightness and a long life compared to the one-layer standard.

Meanwhile, the company has introduced a Glassless 3D Dashboard that maximizes a driver’s visual satisfaction based on high-performance LTPS LCDs.

LG Display’s exhibits in San Jose furthermore include a new technology that can raise the transparency of Transparent OLEDs from 45% to 60% by optimizing their pixel structure and operating parts.

"We will continue to introduce innovative products that can provide new value to customers through constant research and development, while solidifying our technological leadership," Soo-young Yoon, CTO and Executive Vice President at LG Display.

SEOUL, Korea (May 13, 2024) – LG Display, the world’s leading innovator of display technologies, announced today that Joon-young Yang, head of the company's Precedence Technology Laboratory, has been selected to win the Special Recognition Award at SID Display Week 2024 organized by the Society for Information Display (SID).

As the world's most prestigious display organization, SID annually conducts a rigorous judging process to recognize experts who have contributed to display technology innovation and industry development.

SID explained that "Dr. Yang has provided the direction of future displays by developing core technologies for next-generation displays." 

Yang has been working in the display industry for more than 30 years and has contributed to the development of new technologies such as OLEDoS and Stretchable, Flexible and Transparent displays, as well as ultra-high-resolution LCDs and large-sized TV panel technologies. He received a commendation from the President of South Korea in 2018 for his contributions to the development of these new technologies.

He also optimized the OLEDoS design for Extended Reality (XR) devices and conducted research on high-performance OLED element stacking structure technology. In doing this, he has led the development of ultra-high brightness and ultra-high resolution OLEDoS.

In addition, Yang contributed to the development of an innovative technology for the first time in the world in 2022 that enables a 12-inch screen to be able to stretch to 14 inches while simultaneously maintaining high resolution (100 ppi) and full-color RGB at the level of general monitors.

In addition, he played a key role in researching and developing new technologies and new products in various display areas, from small to large, based on his expertise in device and process fields. These include amorphous silicon (a-Si), low-temperature polycrystalline silicon (LTPS), and oxide semiconductor TFTs.

The SID Display Week 2024 award ceremony will be held in San Jose, California, on May 13.