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LG Display Chief Financial Officer (CFO) Suh Dong-hee said in IntelligenceMobile phoneWith demand for technology products generally weak, LG Display isOLEDInvestments on the panel may result in lower performance than market expectations. "We need to be patient this year," he said on the earnings call.
Park Sung-Soon, an analyst at BNK Securities, said: "There does not seem to be enough mobile phones to attract consumers'interest, which means there is not a high demand for LG Display panels in the market." In addition,AppleThe weak sales of the iPhone in China are not good news for LG Display.
Korean Media: LG Electronics plans to suspend production of mobile phones in Korea and transfer them to Vietnam this year
LG plans to suspend production of mobile phones in Korea this year and transfer production to existing factories in Vietnam, Yonhap quoted people familiar with the matter as saying.
According to people familiar with the matter, LG Electronics's decision will help improve its continuing loss-making smartphone sector.
Analysts had previously said that LG Electronics's mobile business had been losing money in the past seven quarters, while the world's was losing money.televisionIncreasingly fierce price competition in the market or increased the company's first quarter performance burden.
LG Electronics declined to comment on the news.
LG Electronics has Smartphone Production Bases in Korea, China, Vietnam, Brazil and India. The factories in Korea mainly manufacture high-end mobile phones, accounting for 10-20% of the company's total smartphone production.