LG Display warns of weaker prices
Seoul, January 22, 2011
LG Display, the world's No 2 LCD flat screen maker, warned of lower shipments and weaker screen prices after posting its first loss in seven quarters, as it battles weak demand from television makers.
The battered liquid crystal display sector is slowly recovering, spurred by expectations of robust demand for tablet devices, but weak sales growth of computers and televisions will continue to keep earnings under pressure, said a report in our sister publication, the Gulf Daily News.
LG Display, a key panel supplier for Apple's iPhone and iPad, recently scored a major breakthrough with a deal to resume TV panel supply for Sony, which switched to sector leader Samsung Electronics six years ago for flat screen purchases.
With falling panel prices and weak demand threatening profit growth, however, LG Display will be hard pressed this year to keep up with bigger rival Samsung, which is planning a 10.8 trillion won ($9.6 billion) investment in LCD and next-generation Amoled display. – TradeArabia News Service
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