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LG Display said Wednesday it posted its first profit in seven quarters, largely driven by rising shipments of panels for smartphones and televisions. The panel titan logged an operating profit of 131.7 billion won ($98.4 million) in the September-December period, compared with an operating loss of 875.7 billion won a year prior. The figure was higher than the consensus of 120.6 trillion won by local analysts provided.
In its tentative fourth-quarter earnings report announced on Tuesday, the company estimated that its operating profit in the October-December period last year was 131.7 billion won ($97.8 million).
LG Display suffered operating losses from the second quarter of 2022 to the third quarter of 2023. To reverse the losses, the board appointed Jeong, who served as the head of LG Innotek, as the new CEO last November. He officially began his role on Dec. 1.
Leaders of South Korea’s top conglomerates are set to converge at CES 2024 in Las Vegas next month to immerse themselves in emerging tech trends and expand global business networks. SK Group Chairman Chey Tae-won will be making his second consecutive appearance after last year's CES. “I’m also wondering how far artificial intelligence can be evolved. Drastic changes are expected to be made in t.