LG Display, a subsidiary of LG Electronics in South Korea, announced a shift to a net loss of 418.8 billion won in the second quarter, down from a net profit of 890.8 billion won a year earlier. The company attributed this loss to one-off costs related to a voluntary retirement program during the quarter. Operating losses decreased slightly to 107.72 billion won from 116.03 billion won compared to the previous year.
Sales for the same period increased by 0.4 percent to 5.61 trillion won from 5.58 trillion won. In the first half of the year, LG Display also reported a net loss of 994.54 billion won, a significant decline from a net profit of 653.73 billion won in the previous year. However, the company managed to achieve an operating profit of 38.99 billion won in the first half, a positive shift from an operating loss of 82.56 billion won a year ago.
LG Display credited the improvement in operating earnings to its strategic focus on organic light-emitting diode (OLED) products, backed by its technological expertise. Despite the positive operating profit, sales for the first half dropped by 4 percent to 11.14 trillion won from 11.65 trillion won in the previous year. Looking ahead, the company plans to boost sales of premium OLED products in the second half while enhancing operational efficiency to drive profitability.
