The CEO of South Korean display panel maker LG Display told reporters on Wednesday that the company’s earnings will gradually improve going forward in the second half of the year.
LG Display CEO Jeong Ho-young was speaking to reporters on the sidelines of the industry conference K-Display, hosted by the Korea Display Industry Association, which Jeong also chairs.
Jeong said the market conditions were difficult but stressed there was a direction.
He likely meant that the display panel maker runs in a cycle and that there will eventually be an uptick.
LG Display has recorded consecutive quarters of losses this year but said last month that it expected to narrow the loss in the third quarter and return to the black in the fourth quarter.
On its spending plan for Gen 8 OLED, the CEO said it plans to explain its plan at a later date.
At the opening for K-Display, Jeong explained that LG Display plans to accelerate its shift to OLED and find new opportunities in mobility and Metaverse.
The CEO said the company is expecting OLED penetration in IT products to increase by five times in the next five years with wider adoption in tablets, notebooks, and gaming monitors.
At the same time, OLED will be established as the main display panel in smartphones and TVs, Jeong said.