LX Semicon Posts First Quarterly Loss Since Listing, Names New CEO

What happened

In a preliminary consolidated earnings filing released Nov. 3, LX Semicon reported third-quarter revenue of 336.02 billion won and an operating loss of 15.56 billion won, its first quarterly loss since going public in 2010; revenue fell 14.8% from a year earlier, and the company recorded a net loss of 11.17 billion won. The company attributed the decline in revenue and operating profit to weak end-market demand, pressure to cut prices amid rising memory chip costs and foreign exchange effects; higher memory prices have increased cost pressures on device manufacturers, prompting them to demand lower prices for other components including display driver ICs (DDIs). Securities analysts also believe LX Semicon's shipments declined after Apple diversified its DDI sourcing to include Taiwan's Novatek. Annual revenue has declined for three consecutive years, from 2.1193 trillion won in 2022 to 1.9014 trillion won in 2023, 1.8656 trillion won in 2024 and 1.6391 trillion won last year. On the same day, the company named Na Joon-ho, executive vice president and head of its Strategic Marketing Division, as its next CEO, with his appointment to be formally approved at next year's shareholders' meeting and board meeting; Na joined LX Semicon in 2001 after working at LG Semiconductor, previously served as head of the Driver IC Development Department, head of the Large Display Development Group and head of the TV & IT Business Division, and has led the Strategic Marketing Division since 2024.

Impact and signal

Affected components and suppliers

Source and time

Source: The Elec · 11/4/2026 · View original source