LG Display achieved its biggest first-quarter profit since 2021 as it shifted its portfolio toward OLED. LG Display said it posted first-quarter sales of 5.53 trillion won and an operating profit of 146.7 billion won. Operating profit rose 338 percent from a year earlier, and marked its biggest first-quarter profit since 2021.

It posted a profit for a third straight quarter. Despite a seasonal off-peak, OLED accounted for 60 percent of sales, up 5 percentage points from a year earlier. Average selling prices per area rose 55 percent from a year earlier. A higher OLED share and a portfolio focused on high-end strategic customers lifted profitability.

EBITDA was 1.14 trillion won, with a margin of 20.6 percent. Sales fell 23 percent from the previous quarter and operating profit slipped 13 percent, but both improved from a year earlier.

By product, panels for IT devices and mobile panels each accounted for the biggest share at 37 percent. TV panels made up 16 percent and automotive panels 10 percent. The small-sized business will use existing production infrastructure to respond flexibly to customers' technology demand based on technology leadership and stable supply capabilities, while also preparing for the future.

The mid-sized business will continue to improve profitability centered on high value-added products, based on tandem OLED and high-end LCD technologies. The large-sized business will strengthen its premium lineup while also expanding products with improved price competitiveness. The company said it plans to focus on securing customers by expanding its gaming product lineup applying proprietary technology in the monitor market, where the shift to OLED is accelerating.

Kim Seong-hyeon (김성현), LG Display CFO, said the company is strengthening competitiveness in high-spec products where it has strengths as external uncertainty persists, while technological barriers are also rising. He said it will strengthen technological differentiation through company-wide efforts to secure financial soundness and strive to deliver sustainable performance that meets the expectations of the market and customers.