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Samsung Display sees profit, LG Display reports loss in 2Q22

South Korean panel maker Samsung Dispaly (SDC) generated operating profit of nearly KRW1,100 billion (US$842 million) on consolidated revenues of KRW7,700 billion in second-quarter 2022, while fellow maker LG Display (LGD) suffered operating loss of KRW488 billion on consolidated revenues of KRW5,607 billion, according to media reports.

LGD suffered quarterly operating loss for the first time since third-quarter 2020, reports from South Korea indicated.

LGD saw operating loss mainly because LCD panel prices have been falling since mid-2021 and global demand for LCD and OLED TVs has significantly shrunk.

LGD will end LCD panel production in South Korea in 2023 but maintain such production in China. SDC entirely ended 30-year production of LCD panels in June 2022.

SDC has extended application of OLED from smartphones and wearable devices to monitors, notebooks, tablets and automotive displays. The company is expected to produce IT-use OLED panels of 1.38 million square meters in total display area in 2022, with the output to increase to 2.69 million square meters in 2025, the reports said.

LGD will extend OLED panel production from large sizes (TV-use) to small to medium sizes and in 2021 decided to invest KRW3,300 billion to set up corresponding production lines.

LGD is expected to produce IT-use OLED panels of 250,000 square meters in 2022 and the output may keep increasing to 750,000 square meters in 2025, the reports said.

China-based BOE Technology has started production of IT-use OLED panels, with output to increase from 130,000 square meters in 2022 to 520,000 square meters in 2025.