Apple supplier LG Display posts sixth straight quarterly loss

Apple supplier LG Display posts sixth straight quarterly loss

Apple Inc supplier LG Display Co Ltd reported its sixth consecutive quarterly operating loss on Thursday, as people shied away from buying new TV sets in the middle of the pandemic and panel prices remained weak.

A man walks out of the headquarters of LG Display in Seoul
A man walks out of the headquarters of LG Display in Seoul, October 20, 2011. REUTERS/Jo Yong-Hak/File Photo

SEOUL: Apple Inc supplier LG Display Co Ltd reported its sixth consecutive quarterly operating loss on Thursday, as people shied away from buying new TV sets in the middle of the pandemic and panel prices remained weak.

The South Korean panel maker said its operating loss for the April-June period widened to 517 billion won (US$431.96 million)from a loss of 369 billion won a year earlier. That compared with analysts' forecast for a loss of 449 billion won, according to Refinitiv SmartEstimate.

Revenue fell 1per cent to 5.3 trillion won, the company said in a regulatory filing.

(US$1 = 1,196.8600 won)

(Reporting by Heekyong Yang and Hyunjoo Jin; Editing by Jacqueline Wong)

Source: Reuters

Bookmark