Is anyone making money from making TVs these days? It would seem not as LG became the latest manufacturer to announce losses for its display division. It's LG Display's 7 straight Quarter loss and comes on the back of their fine for price fixing that cost them $380 million. Its April-June operating loss was 26 billion won ($22.6 million).
"On a pure operating income level, we had around 400 billion won of profit improvement in the second quarter from the previous quarter, although costs related to price-fixing led us to report another quarterly loss," Chief Financial Officer James Jeong told analysts.
Research firm NPD DisplaySearch has forecast the global LCD TV market will grow only 5 percent this year as the established markets reach saturation levels and no doubt all the manufacturers involved will be hoping OLED give the industry its much needed shot in the arm.