[ad_1]
The Apple supplier LG Display is in financial trouble. After a loss of 173 million euros in the last quarter, the company reduced its investment plans by 2.3 billion euros by 2020. Revenues between April and June were was 4.3 billion euros, down 15%.
The main reason for this bad situation is the continued decline in the price of LCD screens due to the saturation of the market and the increasing importance of OLED panels, In addition, the trade war between the United States and China could have a threatening effect on LG Display's business.
LG Display's chief financial officer, Don Kim called the market overcapacity and overall economic uncertainty factors disappointing economic situation of the Apple supplier. Nevertheless, LG Display continues to move the LCD to OLED as the main technology of the internal screens.Apple has already ordered between LG's three and four million OLED panels for its flagship iPhones of 2018. In 2019, Apple plans to buy even more OLED units from LG Display in order to reduce its reliance on Samsung as the largest provider of OLED so far.
Source link
