January 27, 2016 / 7:44 AM / 2 years ago

LG Display says pace of panel price decline to slow in first-quarter 2016 vs. fourth-quarter 2015

SEOUL (Reuters) - South Korea’s LG Display Co Ltd said the pace of decline in the average selling price of panels will slow in the first quarter of this year compared with fourth-quarter 2015, though shipments are also expected to decline.

Don Kim, LG Display’s chief financial officer, said at an investor conference on Wednesday that total panel shipments in surface area terms will fall by a high single-digit percentage rate in January-March from the previous quarter.

Kim also said 2016 market conditions will be difficult due to economic uncertainties, as well as an expected oversupply of panels.

A day earlier, the company reported its lowest quarterly profit in nearly four years, as weak demand for consumer electronics weighed on display panel prices in the fourth-quarter.

Reporting by Se Young Lee; Editing by Kenneth Maxwell

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