SEOUL (Reuters) - South Korean consumer electronics supplier LG Display Co Ltd expects earnings to improve starting in the second quarter of the year, despite challenging business conditions for the January-March period, the company’s chief executive said.
An LG Display spokeswoman on Wednesday confirmed remarks by Han Sang-beom, who also told reporters on the sidelines of the CES trade show in Las Vegas that the display industry’s supply will likely exceed demand by 12 to 13 percent.
The LG Display CEO’s comment comes amid growing concern that slowing demand for consumer devices is starting to hurt technology companies. Japan’s Nikkei reported earlier on Wednesday that Apple Inc is expected to cut production of its latest smartphone models by about 30 percent in the January-March quarter.
LG Display supplies displays for a variety of Apple products, including iPhones.
Reporting by Se Young Lee; Editing by Kenneth Maxwell