Despite posting a larger operating loss for the April-June quarter due to the COVID-19 shutdowns, Apple supplier LG Display said on Thursday it expects profitability to improve in the second half of this year as the new iPhone launch boosts demand for its smartphone panels,
“Considering the prolonged COVID-19 pandemic, it is true that the macroeconomic environment is still not favourable. However, we observe that the worst is over,” said Suh Dong-hee, chief financial officer and senior vice president.
The South Korean panel maker posted its sixth straight quarter of operating losses as retail stores were shut around the world during the second quarter to contain the spread of the virus.
Its loss for April-June widened to 517 billion won ($431.96 million) from a loss of 369 billion won in the same period a year earlier. Revenue fell 1% to 5.3 trillion won [$4.408 billion].
“LG would likely see an uptick in performance in the second half of the year as it will be supplying OLED panels for iPhone 12, but fresh COVID-19 cases, especially in North America, and possible new lockdowns is casting a shadow over the outlook,” said Park Sung-soon, a Seoul-based analyst at Cape Investment & Securities.
MacDailyNews Take: The start of the multi-year 5G iPhone super cycle commences soon!
“Apple supplier LG Display says the worst is over from COVID-19 pandemic, Democrats and Fascist Anarchist hardest hit….”
Weird timing on this announcement (Financial report, I guess), the 2nd wave is happening right now as everyone hits the beach
Dems and or, BLM’rs and or, fascists and or, anarchists ALSO continue to hit hard under the diluted BLM banner and the guise of racial equality. While looking to the govt to cover costs incurred from job loss, businesses burned/lost and increased pay for certain jobs, these protestors see burning and destroying this same govt’s property is held as admirable. “Whatever it takes,” takes on new meaning.
Many citizens observe the above with confused astonishment and are left to assume that protesting for racial equality must have a new definition, or, it is hoped, will become the focus after the discontent subsides.