LG Display posts 5th consecutive quarterly loss (updated)

LG DISPLAY

26/07/2023 06:04

(Adds revenue, paragraph 4)
       SEOUL, July 26 (Reuters) - South Korea's LG Display
 034220.KS  on Wednesday posted its fifth consecutive quarterly
loss as weak seasonal demand for mobile display panels was
compounded by continued weakness in premium TV demand in its key
market Europe. 
        The Apple Inc  AAPL.O  supplier posted an 881 billion
won ($689 million) operating loss for the April-June quarter
versus a 488 billion won loss in the year-ago quarter. 
    The result was in line with a forecast of an 889 billion won
loss from 16 analysts polled by Refinitiv SmartEstimate,
weighted toward analysts that are more consistently accurate. It
had reduced losses from the first quarter's 1.1 trillion won. 
    Revenue fell 15% from year earlier to 4.7 trillion won.
    Mobile display panel orders are concentrated in the second
half of the year, when panels for Apple's smartphones are
produced before the holiday season.   

 (Reporting by Joyce Lee and Ju-min Park; Editing by Tom Hogue
and Muralikumar Anantharaman)
 ((joyce.lee@tr.com;))