27.01.11

LG Display reveals 4th quarter loss after price fixing fine

LG Display has suffered a loss in the fourth quarter of 2010 after being hit with a fine from the European Commission for “anticompetitive acts in the LCD industry”.

Sales in the fourth quarter of 2010 decreased by 3% to KRW 6,483 billion from sales of KRW 6,698 billion in the third quarter of 2010. The figures do represent an increase of 10% compared to the fourth quarter of 2009.

Operating loss in the fourth quarter of 2010 was KRW 387 billion compared to operating profits of KRW 182 billion in the third quarter of 2010, and KRW 313 billion in the fourth quarter of 2009.

And, net loss in the fourth quarter of 2010 was KRW 268 billion compared to net incomes of KRW 224 billion in the third quarter of 2010, and KRW 502 billion in the fourth quarter of 2009.

However, the company posted a record high annual sales and stable earnings in 2010. Annual sales was KRW 25,512 billion, an increase of 27% from KRW 20,038 billion in 2009, and annual operating profit was KRW 1,310 billion, an increase of 30% from KRW 1,010 billion year-on-year.