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TodayLG's LGD panel company released Q2 quarterly earningsAccording to the newspaper, revenue in the quarter was 5.4 trillion won, down 5% from the same period last year, and operating loss was 369 billion won, compared with 228 billion won in the same period last year.The net loss reached 550 billion won, or 3.2 billion yuan, compared with 63 billion won in the previous quarter and 301 billion won in the same period last year.。
LGD's Q2 quarterly revenue decline and loss were much higher than market expectations. Officials said this was due to the overall economic environment and the impact of Global trade disputes.televisionManufacturers and retailers tend to be conservative, which leads to the decline in panel demand.
For the decline of large LCD panels, almost all manufacturers including LG and mainland China, Taiwan and Japan in Q3 had to reduce their production to cope with the price collapse. The reduction rate of LG was about 10-20%.
In addition to LCD, LG has put hope in it.OLEDIn panel business, LG started trial production in Guangzhou's OLED plant, which invested 29 billion yuan this month, and formally produced in August.
In addition, LG recently announced that it will invest 3 trillion won to expand OLED production line in Pozhou, South Korea. It is expected to increase the production capacity of OLED panel above 65 inches to 45,000 pieces per month by 2023, after LG has invested 4.6 trillion won in the plant.