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LG Display Achieves Record Sales in 2021, Swinging a Profit after Three Years

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As LG Display posted the highest sales ever, at the same time it also made a sharp pivot into a profit for the first time in three years. On the 26th, LG Display announced that it had achieved annual sales of 29.878 trillion won and operating profit of 2.23 trillion won in 2021. “This is the result of the large-sized OLED panels in the premium market, the strengthening of the small and medium-sized OLED business base, and the innovation of LCD structures centered on IT products,” LG Display goes on the explain. While the overall TV market experienced negative growth last year, LG Display led the large-sized OLED business. OLED TV panel shipments grew by more than 70% compared to the previous year, which turned to profit in the second half of the year. This helped reach a break-even point.

Following the previous year’s earnings announcement, LG Display stated, “This year, we plan to expand profitability in stages based on shipment growth of more than 20% compared to the previous year and strengthened business capabilities,” and “From the second quarter, ‘OLED.EX’ will be applied to all OLED TV panel series to accelerate the trend toward OLED in the premium TV market.” OLED.EX is a TV panel that increases screen brightness (luminance) by 30% and reduces bezel by 30% by applying ‘deuterium technology’ and ‘personalization algorithm’ to organic light emitting devices. These are the core elements of OLED picture quality. In the case of small and medium-sized OLEDs, the mobile sector plans to improve profitability by expanding new models and high-end products in the second half of the year and expand to the overall mobility industry. The LCD division will continue its strategy of selection and concentration focusing on IT products.

LG Display also expressed confidence in Samsung Display, which has emerged as a new competitor in the OLED market. When asked about LG Display’s competitiveness compared to Samsung Display’s QD-OLED, Large-Scale Marketing Manager Lee Tae-Jong remarked, “Our competitor’s products have not been released yet, so an accurate comparison will be possible only after the actual launch.” He continued, ”LG Display, which has been in business for more than 10 years is far superior in our overall competitiveness in our products and cost, economies of scale, and customers. We will continue to widen the gap in the future.”

LG Display wins OLED TV Premium Market

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LG Display’s OLED TV panel sales in October more than doubled thanks to surging sales of major global TV customers such as LG Electronics, Sony and Philips.

 

LG Display’s OLED TV panel sales exceeded 200,000 units for the first time in October, followed by sales plan of exceeding 210,000 units in November.

 

With the help of Sony’s OLED TV which released LG Display’s OLED TV for the first time this year, it has achieved an overwhelming market share of 74% both in units and sales in the 55” and 65” TV market and OLED TV Set.

(September NPD North American aggregate basis)

 

In North America, Sony’s sales volume in September increased by 2.1 times compared to the previous month, and in Europe, Philips in its third quarter increased by 5.9 times compared to the previous quarter, and sales of LG Electronics, family of OLED TV, together with North America and Europe, experienced an increase of OLED TV sales in September with a surge of 1.5 times compared to the previous month.

(September NPD North America, GFK Europe / CIS 14 countries)

 

Particularly last end of July, it had only been 3 months since LG Display announced the move to invest in OLED to lead the future display market when TV sales are rapidly growing, with OLED becoming the trend of the Premium TV market.

 

This trend is due to the surge in consumer demand after 13 global TV companies introduced OLED TVs in front of the premium TV lineup at the IFA exhibition last September, and the demand for LG Display have increased not only for until the end of the year but even until next year.

 

Accordingly, LG Display’s OLED TV sales are expected to leap over 1.7 million units this year, exceeding market expectations of 1.5 million units, and 2.7 million units are expected to be sold next year.

 

LG Display plans to raise utilization of the E4-2 line to the maximum in Paju, which started operation in this second half of the year.

 

LG Display Vice Chairman Han Sang-Bum states, “OLEDs are rapidly emerging as a premium TV market and are growing steadily in accordance to our production capacity.”

 

Meanwhile, LG Display has actively promoted the trend of OLEDs in the display market and has recently opened ‘OLED Day’ events in China and Europe. In addition, OLED Experience Center has been installed in 8 major cities in China to show OLED potential and future technologies to consumers.

LG디스플레이 OLED TV 프리미엄 시장 석권

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LG디스플레이 OLED TV패널의 10월 판매량이 LG전자, 소니, 필립스 등 주요 글로벌 TV고객사의 판매량 급증에 힘입어 전년 동월대비 2배이상 증가했다.

 

LG디스플레이의 OLED TV패널 판매량은 10월, 월 판매 기준 처음으로 20만대를 돌파한 데 이어, 11월에는 판매계획이 21만대를 넘어서는 등 연말까지 판매량이 지속 증가하고 있다.

 

LG디스플레이는 올해 처음 OLED TV를 출시한 소니의 OLED TV판매가 호조를 보인데 힘입어, $2,000이상 북미 프리미엄 시장의 메인시장인 55”, 65” TV시장에서 OLED TV 셋트 판매 수량과 금액 모두 74%의 압도적인 점유율을 달성했다.(9월 NPD 북미 집계 기준)

 

소니는 북미에서 수량기준 9월 판매량이 전월 대비 2.1배 성장했고, 유럽에서는 필립스가 3분기에 전 분기 대비 5.9배 판매량이 급증했으며, OLED TV의 종가인 LG전자 판매량도 북미와 유럽을 통틀어 9월 한달 간 전월 대비 1.5배 급성장하는 등 주요 고객사의 OLED TV판매량이 급증했다.(9월 NPD북미, GFK유럽/CIS 14개국 집계 기준)

 

특히 지난 7월말 LG디스플레이가 미래 디스플레이 시장 선도를 위해 OLED로의 투자중심 이동을 선언한지 3개월도 안된 기간에 글로벌 OLED TV 판매량이 급성장하고 있어 OLED가 프리미엄TV시장의 대세로 빠르게 자리잡고 있다.

 

이 같은 흐름은 지난 9월 IFA전시회에서 13개의 글로벌 TV업체들이 OLED TV를 프리미엄TV 라인업의 전면에 내세운 이후 소비자 수요가 급증하는 데 따른 것으로, LG디스플레이에 연말까지의 수요는 물론이고 내년물량까지 늘려달라는 고객사의 주문이 이어지고 있다.

 

이에 따라 LG디스플레이 OLED TV판매량은 올해 150만대 규모로 예상했던 시장조사기관들의 전망치를 뛰어넘어 170만대 이상을 기록할 것으로 전망되며 내년에도  270만대 이상이 판매될 것으로 예상된다.

 

LG디스플레이는 하반기 본격 가동한 파주의 E4-2라인의 가동율을 최대로 끌어올려 늘어나는 고객수요에 적기 대응한다는 방침이다.

 

LG디스플레이 한상범 부회장은 “OLED가 프리미엄 TV시장의 대세로 빠르게 자리잡고 있으며 자사의 생산 캐파 증가에 따라 지속적으로 성장하고 있다”고 말했다.

 

한편, LG디스플레이는 OLED가 디스플레이 업계에서 대세로 자리매김하며 관심이 고조됨에 따라 최근 중국과 유럽에서 ‘OLED Day’행사를 열고 OLED의 우수성을 적극 알렸다. 또한, 중국의 8대 주요 도시에 OLED체험관을 설치하여 OLED의 가능성과 미래기술을 직접 소비자에게 보여줌으로써 OLED기술을 지속적으로 전파하고 있다.