Apple display supplier LG records fifth straight quarterly lossLG said that it expects "volatility in demand" to increase due to COVID-19.
What you need to know
Apple display supplier LG has reported its fifth consecutive quarterly loss.
In Q1, it lost $294 million and revenue fell by 20%.
LG plans to halt domestic production of LCD TVs by the end of 2020, in a bid to stop the bleeding.
Apple display supplier LG has recorded its fifth consecutive quarterly loss.
As reported by Reuters:
South Korea's LG Display Co Ltd reported its fifth straight quarter of operating losses on Thursday, hit hard as demand for smartphones and televisions slumped due to the coronavirus pandemic.
The operating loss for the first quarter ended March widened to 362 billion won ($294.70 million), from a loss of 132 billion won a year earlier, and compares with a Refinitiv SmartEstimate drawn from 19 analysts for a 390 billion won loss.
The Apple Inc supplier said revenue fell 20% to 4.7 trillion won.
In a statement, LG said, "we expect volatility i...
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Apple display supplier LG records fifth straight quarterly loss
