LG Display's Turnaround Under CEO Jeong Cheol-dong

What happened

LG Display CEO Jeong Cheol-dong, brought in to turn around the struggling display maker, will mark his third anniversary in the role next month. Since taking office in December 2023, he has exited the company's Chinese liquid crystal display (LCD) business and restructured operations around OLED technology, leading LG Display back to annual profitability for the first time in four years. The operating loss narrowed from 2.5102 trillion won in 2023 to 560.6 billion won in 2024, and last year the company posted operating profit of 517 billion won, with operating margin improving from minus 11.8% to 2.0%. LG Display completed the sale of its Guangzhou LCD plant in China in April last year, withdrawing from the large LCD business. OLED's share of total revenue rose from 48% in 2023 to 61% last year and reached 67% in the third quarter of this year. The company expects large OLED panel shipments to increase about 20% this year to the upper end of the 7 million-unit range, with monitor panels projected at approximately 20% of shipments. Cost of goods sold as a percentage of revenue fell 11.5 percentage points from 98.4% in 2023 to 86.9% last year; total liabilities declined from approximately 27 trillion won at the end of 2023 to 19.1 trillion won at the end of last year, and the debt-to-equity ratio dropped from 307.7% to 243.4%; domestic employees fell by approximately 4,300, from 27,791 at the end of 2023 to 23,490 in the first half of this year. However, this year rising semiconductor prices and a weaker U.S. dollar against the won have weighed on earnings, and third-quarter operating profit fell 42% from a year earlier to 250.6 billion won. The company is developing FLiPP, a technology that forms light-emitting layers without fine metal masks (FMMs), reportedly with the goal of mass-producing OLED panels for Apple's iMac and MacBook Air, among other products, in 2030.

Impact and signal

Affected components and suppliers

Source and time

Source: The Elec · 11/10/2026 · View original source