LG Display's display panel price has recovered to $1,000 for the first time in six quarters.
LG Display noted in its semi-annual report on the 14th that the price of display panels reached $1,056 in the second quarter of this year. The panel price has maintained a range of $700 to $800 since recording $1,064 in the fourth quarter of 2023.
LG Display explained that the area-based price increased compared to the previous quarter due to the impact of the termination of the low-priced LCD (liquid crystal display) TV business, stating, "The area-based price may continue to fluctuate depending on future market conditions and changes in our product mix."
The global market share in terms of revenue for large- and mid-sized panels fell to 12.9% in the first half of this year, down from 14.6% in 2023 and 15.7% last year. Among these, the share for TVs dropped to 9.9%, down from 12.5% and 14.1%, breaking the 10% mark. The market share for IT panels was recorded at 17.5%.
LG Display said, "Chinese panel manufacturers are expanding their dominance in the LCD sector through aggressive equipment investment and purchases," and added, "In response, Korean companies are continuing to lead the market and differentiate themselves through a shift in business structure centered on organic light-emitting diode (OLED) and technological advancements in the LCD institutional sector."
The proportion of research and development (R&D) expenses relative to sales increased to 10.4% in the first half of this year, up from 8.4% last year.
CEO Jeong Cheol-dong received 720 million won in salary for the first half of the year, with no separate bonuses paid. The total number of employees is 25,057, with an average salary of 45 million won for the first half. The average welfare expenses for the first half were 8.3 million won.