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LG Display suffers third straight quarterly loss

For the third straight quarter LG Display has experienced a quarterly loss due to low demand, though things may turn around during Q2 2012.

LG logo laptop (1020)
LG logo laptop (1020)

LG Display has announced that for the third straight quarter it has suffered a net loss due largely to low demand for flat screen TV panels. Over the first three months of 2012 the company saw a net loss of 129 billion won ($113 million), which represents a further drop compared to last year when it posted a 115.4 billion won ($101 million) net loss. It also experienced an operating loss of 178.2 billion won ($156 million) over the same period, though revenue did rise 15.2 percent compared to last year totalling 6.18 trillion won ($5.4 billion).

The company cites low demand for displays as the reason for the poor numbers, but believes that an anticipated increase in flat panel prices over the second quarter, as well as increased demand buoyed by major sporting events like the London Olympics, could potentially result in a profit from April to June. Shipments are expected to jump by 10 percent over that three-month period. Of course, LG Display isn't the only one experiencing problems, with companies like Sony and Panasonic suffering significant losses due to underperforming TV divisions.