LCD panel prices are on the decline these days after a steep rise since last year. The strong rebound in LCD panel prices led Samsung Display and LG Display to shelve their plans to withdraw from the LCD market. Yet, they are now considering terminating their LCD business again as LCD panel prices h
The author is an analyst of NH Investment & Securities. He can be reached at jack.baek@nhqv.com. -- Ed. Relative to competitors, SJ Group boasts outstanding margins thanks to both its policy of focusing on department stores while avoiding discount sales and its minimization of advertising expense. B
Samsung Electronics will unveil its first OLED TVs at CES 2022, the world's largest IT fair to be held in January next year. The company will use Samsung Display's Quantum Dot OLED (QD-OLED) displays, not LG Display's White OLED (WOLED) displays which currently monopolize the OLED TV mar
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. OLED TV panel shortage expected in 2022 We maintain BUY and TP of KRW25,000 (0.6x 2022E P/B) on LGD. We remain positive about the company because we believe Samsung Electronics’ entry into the OLED TV market in
The authors are analysts of Shinhan Investment Corp. They can be reached at chank@shinhan.com and hyungwou@shinhan.com, respectively. -- Ed. 3Q21 sales exceed consensus at KRW58.6bn (+44.3% YoY)Duk San Neolux posted sales of KRW58.6bn (+44.3% YoY) and operating profit of KRW16.3bn (+45.8% YoY) for 3
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. OLED key to metaverse’s virtual reality We maintain BUY and our TP of KRW25,000 (0.6x 2022E P/B) on LG Display. The company should gain from (1) its leadership in the OLED panel market (No. 1 in large-size OLED
The authors are analysts of Shinhan Investment Corp. They can be reached at doyeon@shinhan.com and hyon@shinhan.com, respectively. – Ed. 3Q21 OP estimated at KRW105.7bn (+29.9% QoQ)DB HiTek is expected to deliver another record-high in quarterly results with 3Q21 operating profit likely to come in f
LG Display's OLED panels will be adopted for the windows of Russian subway trains. Its transparent OLED panels were adopted for Beijing and Shenzhen subway cars in China in 2020 and for trains in Japan this year. Now, Russia will adopt the transparent OLED panels for its subway cars.The Moscow M
Chinese display manufacturer BOE is expanding its partnership with Apple to increase its presence in the OLED as well as LCD market.BOE initiated the shipment of 6.1-inch OLED panels for use in the iPhone 13 last month. The shipments are expected to be increased after some testing at Apple. Previous
LG Display announced on Oct. 7 that its OLED TV panels have obtained 'High Gaming Performance Gold' certification from TÜV Rheinland of Germany and 'Qualified Superior Gaming Performance' certification from Intertek of the United Kingdom.The two testing agencies certified all of LG D
Merck decided to invest approximately 600 million euros in South Korea until 2025. The investment is expected to be used to expand production of semiconductor and OLED materials and enhance R&D capabilities.Dr. Kai Beckmann, head of the electronics business sector of Merck, is currently staying in S
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Maintain BUY but cut target price to KRW25,000 We maintain BUY on LGD but cut our TP by 16.7% to KRW25,000 given that we revise down 2021E/2022E NP (attributable to controlling interests) by 12.2%/19.1% to refl
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Maintain BUY; Lower target price to KRW200,000 We lower our 12m TP to KRW200,000 for LG Electronics to reflect downward revisions to 2021E-23E earnings based on delayed profitability improvement for BS and VS.
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Maintain BUY but lower target price to KRW30,000 We lower our TP to KRW30,000 for LG Display to reflect downward revisions to 2021E-23E earnings stemming from falling LCD panel prices. However, we maintain BUY
The authors are analysts of Shinhan Investment Corp. They can be reached at johnsoh@shinhan.com and chank@shinhan.com, respectively. -- Ed. 3Q21 OP to exceed market consensus at KRW61.5bnHansol Chemical is forecast to post operating profit of KRW61.5bn (+14.2% QoQ, +19.9% YoY) on sales of KRW205bn (
A subsidiary of Chinese home appliance company TCL is supplying a small amount of OLED panels for smartphones to Samsung Electronics.TCL has confirmed a news report that its display subsidiary, China Star Optoelectronics (CSOT), is supplying OLED smartphone panels to Samsung Electronics.Earlier, Dig
Nikkei reported on Aug. 6 that Samsung Electronics recorded the highest market shares in the global DRAM, NAND flash, OLED panel, ultra-slim TV and smartphone markets last year. In addition, SK Hynix, LG Electronics and LG Display came in second in the DRAM, ultra-slim TV and OLED panel markets, res
The authors are analysts of Shinhan Investment Corp. They can be reached at johnsoh@shinhan.com and chank@shinhan.com, respectively. -- Ed. 2Q21 OP in line with market consensusSeoul Semiconductor posted sales of KRW336.8bn (+8.5% QoQ, +25.6% YoY) and operating profit of KRW23.4bn (+9.9% QoQ, +70.2%
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Turn to profit for large- and small-/mid-size OLED panels We maintain BUY and our TP of KRW37,000 on LGD. We expect the following:(1) The company should gain a new profit generator with the OLED business (large
LG Display announced in a conference call on July 28 that it will continue its LCD business.Since Chung Ho-young took office as president in 2019, LG Display has sought to overhaul its LCD business as LCD panel prices fell steeply due to an oversupply by Chinese companies. The company leaned towards