LG Display Surprise Loss Points to TV Challenge, iPhone Struggle
- South Korean screen maker provides components for iPhone 8
- Mass production of TV panels in China threatens LG Display
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LG Display Co. reported an unexpected loss for the first quarter, indicating that competition from China is hitting its television business while demand for Apple Inc.’s iPhone 8 is tapering off.
LG Display reported an operating loss of 98.3 billion won ($91 million) for the quarter, compared with analyst estimates of a 12.7 billion won profit. LG, which gets the largest slice of its revenue from the television business, has faced increasing competition from Chinese rivals that has hurt pricing in the segment.