LG Display plans to start operation of an additional line of its eighth-generation LCD plant and to focus on new growth areas such as 3-D display, solar cells, e-paper and OLED this year, its CEO Kwon Young-soo said. Kwon Young says: "We may start to produce 30-inch OLED TV panels in 2012."

LG Display, the world's No. 2 flat-panel maker, yesterday posted an operating profit in line with market forecasts, with the company expecting profit to improve in the current quarter.

Overall, the company shipped a record high total of 6.23 million square meters of display area in the fourth quarter of 2009, up by 10% quarter-on-quarter. On a revenue basis, TFT-LCD panels for TVs, monitors, notebook PCs and mobile applications accounted for 56%, 23%, 17% and 4%, respectively, in the fourth quarter.

The average utilization rate in the third quarter of 2009 remained at full capacity reaching up to almost 100 percent due to a favorable LCD market, solid customer base, and active customized marketing. Inventory days remained below two weeks.

The average selling price per square meter of display area shipped was USD 809. Cost of goods sold keep the same level with the third quarter of 2010. (based on COGS per square meter in US dollars).

With KRW 3,362 billion of cash and cash equivalents and 91% of Liability to Equity ratio as of December 31, 2009, the financial structure of the company remains remarkably stable. CAPEX in the fourth quarter of 2009 were KRW 1,324 billion

Outlook

The following expectations are based on information as of January 20, 2010. The Company does not expect to update its expectations until next quarter’s earnings announcement. However, the Company reserves the right to update its full business outlook, or any portion thereof, at any time and for any reason.

LG Display expects total display area shipment in the first quarter of 2010 to keep the same level with the fourth quarter of 2010. Also the average selling price per square meter of display area shipped in the first quarter of 2010 is expected to be flat

At the CES-2010 LG Display introduced there 15-inch EL9500 OLED-Televison device.

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