Thanks to a slew of OLED TV sales, shipments of flexible smartphone panels, and a growing demand for work-from-home monitors, LG Display's fortunes seem to have turned. The electronics maker's earnings for the third quarter of this year include a reported net profit of €9,8 million (about €7,5 million / A €13,7 million). Compared to the huge shortfall it has experienced in recent quarters, this is quite a turnaround, and it's worth noting that LG hasn't been in the dark like this since 2018. By comparison, LG posted a net loss of $447 million. dollars in the second quarter of 2020, and a similar amount at the same time last year. It's been a tough year for LG Display in many ways. In February, we reported that a new production facility in Gaungzhou was months behind schedule. The difficulty in ramping up OLED production continued throughout the year, leading to lower sales forecasts, while the initial effect of the global lockdowns was a drop in spending on expensive TVs and smartphones. In July, the Guangzhou factory came online, ramping up production of LG's new 48-inch OLED panel TV, but the following month we learned that plans for a new plant in South Korea had been pushed back to 2023.
The sweetness of home
The sudden change in fortunes may perversely be due to the coronavirus pandemic. Just as working from home has seen a massive increase in the use of Netflix and other streaming services, it's also been a boon for the technology used to watch them, meaning LG-made panels for OLED TVs have seen a rise. massive demand. . Let's not forget that LG Electronics isn't the only company selling OLED TVs. LG Display also sells OLED panels to the likes of Sony, Philips and Panasonic for use in their high-end TVs, and it seems that being stuck at home has led many to upgrade their home theater systems. . LG attributes much of this success to an increase in demand for home office equipment such as computer monitors; It's no wonder people have been looking to upgrade their work-from-home setup. It seems that LG has found its place and favor among those of us adjusting to an increasingly indoor life, which will certainly come as a relief to those who tend to the corporate coffers. and will help ensure that it continues to innovate, like with its rollable OLED. THE TV.
Good flex
LG also cites increased interest in flexible OLED smartphone panels, given the current race among smartphone makers to offer innovative form factors through their foldable phones. While the trend may have started with the disastrous Samsung Galaxy Fold, things have now turned around with Huawei. Motorola and LG are jumping into action. It's still an expensive technology and its consumer benefits are uncertain at this point, especially given the delicate materials used, but it has certainly captured the imagination of many manufacturers, and we'll only see more to come. In the near future, therefore, it seems that LG's fortunes will continue to improve. Today's best LG CX OLED deals LG OLED55CXPUA built-in Alexa... LG - OLED Series 55" CX-Class... LG OLED65CXPUA 65-inch CX 4K... LG OLED65CXPUA 65" CX 4K OLED...