LG Display is dominating the global automotive display panel market.The company took a 25.9 percent share of the global market for 10-inch or larger high-value vehicle displays in the first quarter of 2021, maintaining the top spot for 11 consecutive quarters, Omdia said on June 14.In particular, th
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Global leader in OLED displays: Ranked first in TVs and automobiles, second in mobile phones— According to overseas media report (GSM Arena) on June 1, the expansion of applications for OLED is expected to acce
The author is an analyst of NH Investment & Securities. He can be reached at kyuha.lee@nhqv.com. -- Ed. XR device market to expand at CAGR of over 100%The XR device market (includes VR and AR devices) is estimated to expand at a CAGR of over 100% from 6.77mn units in 2020 to 13.73mn units in 2021, 2
As LG Electronics entered its countdown of the launch of a mini-LED TV model, its clash with Samsung Electronics is imminent.LG Electronics is planning to release mini-LED TVs globally in June. About six months have passed since the company announced at a TV technology briefing session in December 2
Samsung Display is facing a strike threat from its labor union amid intensifying competition with Chinese companies and a switch to next-generation displays.Samsung Display's labor union is collecting opinions from its members to decide whether to go on strike over wage hikes. If Samsung Display
The author is an analyst of NH Investment & Securities. He can be reached at kyeongkeun.kang@nhqv.com. -- Ed. LB Lusem is a global top-three DDI (COF) packaging company. DDI demand is set to increase as display trends change. Following its incorporation into the LB Group, the firm has reported stabl
Competition will intensify in the global smartphone OLED panel market as Chinese companies are speeding up their penetration of the market with low-cost products, challenging Samsung Display’s dominance.Smartphone OLED panel shipments will reach 812 million units in 2022, said Omdia, a market resear
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. 32’’/55’’ LCD TV panel prices hit six-year high— According to market research firm WitsView (May 20), 2H May LCD panel prices for TVs and PCs rose 3-7% MoM (up 2-5% compared to 1H May), beating market expectati
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Stock to gain steam — LGD stock fell 10.9% over the past week (May 10-May 14) and 18.7% over the past three weeks (KRW27,050 on Apr 23→KRW22,000 on May 14). We attribute the sharp pullback to: (1) potential del
The authors are analysts of Shinhan Investment Corp. They can be reached at johnsoh@shinhan.com and chank@shinhan.com, respectively. -- Ed. 1Q21 earnings surprise: Operating profit of KRW59.2bnSilicon Works posted operating profit of KRW59.2bn (+139.8% QoQ, +406.1% YoY) on sales of KRW405.6bn (+11.7
Manufacturing a 65-inch LCD panel requires 5.2 kg of plastic, while the amount of plastic used for an OLED panel is a mere 0.43 kg. The plastic used for an LCD panel is difficult to recycle as it is a complex material.LG Display shipped 15,000 OLED panels during the first quarter of 2021. By produci
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Guangzhou OLED line to expand to accommodate new clients and supply shortageAccording to the news provider The Elec (May 11), LGD will be increasing its OLED glass sheet capacity at its Guangzhou plant by 50% b
LG Display's sales grew 46 percent on year to 6,882.8 billion won in the first quarter of 2021, according to the Financial Supervisory Service’s electronic disclosure system. Its operating profit stood at 523 billion won, a turnaround from an operating deficit in the first quarter of 2020.Althou
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. LCD prices to strengthen in 2H21 We maintain BUY on LG Display (LGD) and our TP of KRW33,000. Our BUY rating is based on the following outlook: (1) LCD panel prices that were expected to peak in 2Q21 should con
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Maintain BUY and TP of KRW240,000; OLED TV shipments to double YoY in 2021 We maintain BUY on LG Electronics (LGE) and our 12m TP of KRW240,000, given the following: (1) LGE’s position in the TV market should i
The authors are analysts of Shinhan Investment Corp. They can be reached at johnsoh@shinhan.com and chank@shinhan.com, respectively. -- Ed. 1Q21 earnings surprise: Operating profit of KRW523bnLG Display delivered an earnings surprise for 1Q21. Operating profit came in at KRW523bn (-23.7% QoQ, positi
The author is an analyst of NH Investment & Securities. He can be reached at j.ko@nhqv.com. -- Ed. Although LGD is likely to see significant earnings improvement this year, such a trend is unlikely to continue uninterrupted, as there is limited possibility that the display market environment will de
The author is an analyst of KB Securities. He can be reached at cm.lee@kbfg.com. -- Ed. Maintain BUY and TP at KRW950,000 We maintain BUY and our TP of KRW950,000 for Samsung SDI. Our TP (5% above consensus), derived using the DCF valuation method, is based on WACC of 8.62% (COE 9.90%, after-tax COD
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. LGD share price up 10% over past three months—underperformed vs. Taiwan LCD peers We maintain BUY on LG Display (LGD) and our target TP of KRW33,000 (12m fwd P/B of 0.9x). The stock is trading at a 2021E P/B of
The author is an analyst of NH Investment & Securities. He can be reached at jack.baek@nhqv.com. -- Ed. While DFS sales declined sharply following the outbreak of Covid-19, we expect to see an earnings rebound led by an uptick in domestic consumption. We believe that the launch of both new brand Pan