Plans Continue
LG Display announced that it will hold a conference call to announce its earnings for the second quarter of this year on July 26. The display giant added that it was proceeding with its investment in 6th-generation IT organic light-emitting diode (OLED) displays as scheduled.
“We are proceeding with investment in 6th-generation OLED displays as scheduled,” an LG Display official said “We will continue to invest in 6th-generation OLED displays by the first half of next year. However, nothing has been finalized yet with regard to a possible investment in 8th-generation OLED displays.”
LG Display emphasized that it will make investment decisions after taking a closer look at the possibility of technological advancement, how much technological progress will be made and whether technology will develop to a level that can contribute to increasing the company’s profit.
The Korean display giant expected its investment to decline in 2024, compared to this year. “Due to the nature of the display industry, we order supplies for investment in advance and investments are carried out over a long period of time. Therefore, it is not easy to flexibly manage large amounts of money to adjust investment amounts according to the company’s situation,” the official said. “This year, we are making investments in the mid-to-high range of the existing guidance of 3 trillion won while separately making cost efficiency efforts.”
“We have not yet finalized our investment amount and business plan for 2024,” the official added. “But we have reviewed our ongoing investments and other plans. We now believe that we will be able to reduce the amount next year compared to this year.”