LG Display’s loss exceeds expectations of $823mln

South Korean display panel maker LG Display posted on Wednesday its fourth straight quarterly loss, to reach a 1.1 trillion won ($823 million) operating loss for January-March, versus a profit of 38 billion won a year earlier.

LG Display plans to increase its longer-term order-based production to account for more than 70 percent of revenue in two to three years, up from 40 percent currently.

However, the revenue also fell by nearly a third, to 4.4 trillion won, as LG Display continues to downsize its less-competitive liquid crystal display (LCD) TV panel business.

Chief Financial Officer Sung-hyun Kim said “we now bottom out in the first half and plan to achieve a turnaround during the second half of the year, as the industry recovers its inventory level.”