Apple Inc supplier LG Display posts wider Q1 loss on demand slump

SEOUL: LG Display Co Ltd, a South Korean Apple Inc supplier, reported on Thursday its fifth straight quarter of operating losses, hit by slumping demand for smartphones and televisions 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.

LG Display’s revenue fell 20% to 4.7 trillion won.