[Photo] LG Displays posts US$372.4 in losses for 3rd quarter

LG Display posted operating losses of 436.7 billion won (US$372.4 million) for the third quarter of 2019, making it likely that its total operating losses for the year will exceed 1 trillion won (US$852.77 million). LG recorded a profit of 17.5 billion won (US$14.93 million) for the same period last year. Analysts pointed to cheaper LCD panels from China as the reason for a dip in sales. As the chill in the domestic LCD industry is expected to continue, both LG and Samsung have opted to invest their efforts in OLED panels as an exit strategy. According to market researcher Witsview, the average price of TV LCDs was US$94 in August, a decrease of 13% compared to three months ago.