April 24, 2018 / 11:28 PM / 3 months ago

LG Display reports Q1 operating loss as panel prices drop

SEOUL, April 25 (Reuters) - South Korea’s LG Display Co Ltd reported its first quarterly operating loss in six years, hit by a sharp drop in panel prices as Chinese rivals flooded the market and sluggish sales of liquid crystal displays for TVs.

The Apple Inc supplier posted an operating loss of 98 billion won ($91.1 million) for January-March. That compares with a 1 trillion won profit in the same period a year ago and an average forecast of a 58.1 billion won loss drawn from 14 analysts polled by Thomson Reuters I/B/E/S.

Revenue fell 19.6 percent to 5.7 trillion won. ($1 = 1,076.1500 won) (Reporting by Joyce Lee; Editing by Edwina Gibbs and Stephen Coates)

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