LG Display announced five consecutive quarterly losses and expects to turn losses into profits in the fourth quarter.

CTOnews.com July 26 news, LG Display today announced second-quarter (April-June) results, second-quarter operating loss of 881 billion won (CTOnews.com Note: currently about 4.934 billion yuan), compared with a loss of 488 billion won (currently about 2.733 billion yuan) in the same period last year, this is the company's fifth consecutive quarterly loss. The company's second-quarter revenue was 4.7 trillion won (currently about 26.32 billion yuan), down 15 per cent from a year earlier.

▲ source Pexels for the loss, LG Display said, mainly due to weak seasonal demand for mobile display panels, coupled with its key market in Europe, high-end TV demand continues to be sluggish.

LG's results were in line with analysts' expectations that LG Display's second-quarter loss would fall from 1.1 trillion won in the first quarter (currently about 6.16 billion yuan) to 889 billion won (currently about 4.978 billion yuan).

However, Sung-hyun Kim, LG Display's chief financial officer, said in a statement that he expected "panel demand to rise" in the second half of the year due to a decline in panel inventory in the first half of this year. LG Display also expects to return to profitability in the last quarter of this year.

Analysts believe that Apple will launch a new iPhone smartphone in the second half of this year, when LG Display sales of mobile panels to Apple will increase, leading to a pick-up in LG Display's performance. However, while LG Display will start supplying Samsung with high-end TV panels, initial supply is unlikely to have a significant impact on the company's financial position in the third quarter, analysts said.