# LG Display
**LG Display Co., Ltd.** is a South Korean display panel manufacturer, incorporated in February 1985, that produces organic light-emitting diode (OLED) and liquid-crystal display (LCD) panels for televisions, IT products, mobile devices, and automobiles. It is the world's second-largest OLED producer by revenue and the only display maker with volume positions at both ends of the OLED market: large-area white OLED (WOLED) panels for TVs and monitors, and small and medium flexible AMOLEDs for smartphones, watches, tablets, and cars.[1](https://www.oled-info.com/spotlight-lg-display-woled-pioneer-apples-second-oled-supplier-and-its-new-bet) [LG Electronics](https://www.edgepedia.org/lg-electronics) owns 36.72% of its common stock (183,593,206 shares) as of December 31, 2025.[2](https://www.sec.gov/Archives/edgar/data/1290109/000119312526101115/fy25_ar_cgsh_-250003129-.htm)
| Key fact | Detail |
|---|---|
| 2025 results | Revenue KRW 25,810 billion; operating profit KRW 517 billion; first full-year profitability in four years[2](https://www.sec.gov/Archives/edgar/data/1290109/000119312526101115/fy25_ar_cgsh_-250003129-.htm) • [3](https://news.lgdisplay.com/en/2026/01/lg-display-reports-2025-earnings-results/) |
| OLED revenue share | Record 61% of 2025 revenue, up from 32% in 2020, 40% in 2022, and 55% in 2024[3](https://news.lgdisplay.com/en/2026/01/lg-display-reports-2025-earnings-results/) |
| LCD exit | P5, P7, and P62 fabs closed 2022–2023; Guangzhou LCD subsidiaries sold to TCL CSOT for about W2.2 trillion, completed April 1, 2025[4](https://www.sec.gov/Archives/edgar/data/1290109/000119312526183413/lpl-20251231.htm) |
| Customer concentration | Top ten customers were 92% of 2025 sales; Apple is the largest customer[2](https://www.sec.gov/Archives/edgar/data/1290109/000119312526101115/fy25_ar_cgsh_-250003129-.htm) • [5](https://www.briefasia.com/en/article/lg-display-turns-profitable-lcd-exit-cuts-production-costs) |
| Large-panel share | 13.4% of global large (≥9-inch) panel revenue in 2025, down from 15.7% in 2024[2](https://www.sec.gov/Archives/edgar/data/1290109/000119312526101115/fy25_ar_cgsh_-250003129-.htm) |
| TV OLED position | About 81% of 2025 TV OLED revenue, versus 19% for Samsung Display[6](https://displaydaily.com/state-of-the-display-industry-q1-2026/) |
| Next investment | W3 trillion OLED program (half from the National Growth Fund) plus a W1.106 trillion sixth-generation Paju line targeted for 2028[7](https://www.newsianbiz.com/news/articleView.html?idxno=986) • [8](https://www.thelec.net/news/articleView.html?idxno=6744) |
## What it makes: OLED versus LCD
LG Display's product line spans two display technologies. The company's revenue mix has shifted decisively toward OLED: OLED products were 32% of revenue in 2020, 40% in 2022, 55% in 2024, and a record 61% in 2025.[3](https://news.lgdisplay.com/en/2026/01/lg-display-reports-2025-earnings-results/) By 2025, panel products using OLED technology accounted for the majority of total revenue.[4](https://www.sec.gov/Archives/edgar/data/1290109/000119312526183413/lpl-20251231.htm)
In 2025 the sales mix by application was 37% IT products, 36% mobile and other products, 19% television, and 8% automotive displays.[2](https://www.sec.gov/Archives/edgar/data/1290109/000119312526101115/fy25_ar_cgsh_-250003129-.htm)
## OLED technology: WOLED and Tandem
**Large panels use WOLED.** Its current four-stack tandem structure stacks red, first blue, green, and second blue emitting devices in sequence from the anode, reaching a current efficiency of up to 134 cd/A at 10 mA/cm².[9](https://sid.org/Portals/sid/Files/SID-Digest/docs/63-3.pdf) The four-stack TV panel reaches 2,900, 1,000, and 400 nit at average picture levels of 3%, 25%, and 100% respectively, with a 4,000 nit peak flash luminance.[9](https://sid.org/Portals/sid/Files/SID-Digest/docs/63-3.pdf) Because the four-stack device uses saturated red, green, and blue dopants, it eliminates the yellow-green dopant used in earlier WOLEDs, improving BT.2020 color gamut coverage.[9](https://sid.org/Portals/sid/Files/SID-Digest/docs/63-3.pdf)
**Tandem OLED is central to the medium-sized panel strategy.** The company's medium-sized strategy centers on Tandem OLED technology, which it describes as offering low power consumption, long lifespan, and high resolution.[2](https://www.sec.gov/Archives/edgar/data/1290109/000119312526101115/fy25_ar_cgsh_-250003129-.htm) Its fourth-generation OLED separates red and green into independent emission layers for a total of four emission layers, raising color brightness 40% to 2,100 nits and expanding the color gamut to 99.5% of the DCI standard.[10](https://news.lgdisplay.com/en/2025/07/interview-4th-generation-oled-captivates-the-worldturning-the-limits-of-technology-into-the-reality/)
In August 2026 the company formally launched FLiPP, a maskless OLED production process positioned as its answer to rivals' 8.6-generation IT OLED fabs.[1](https://www.oled-info.com/spotlight-lg-display-woled-pioneer-apples-second-oled-supplier-and-its-new-bet)
## Manufacturing footprint
LG Display operates panel fabs in Gumi and Paju in Korea; it formerly operated a panel fab in [Guangzhou](https://www.edgepedia.org/guangzhou), China. Its history page records mass production of 8.5th-generation OLED panels in Guangzhou and a sixth-generation OLED line (E6) in Paju.[11](https://www.lgdisplay.com/eng/company/info/history) Cumulative annual production capacity for 2025 was approximately 4.2 million glass sheets converted to eighth-generation sheets (2200×2500 mm).[2](https://www.sec.gov/Archives/edgar/data/1290109/000119312526101115/fy25_ar_cgsh_-250003129-.htm) Average utilization in 2025 was 97.9% at Gumi, 98.4% at Paju, and 98.9% at Guangzhou.[2](https://www.sec.gov/Archives/edgar/data/1290109/000119312526101115/fy25_ar_cgsh_-250003129-.htm)
In April 2026 the company announced a W1.106 trillion investment to add a sixth-generation OLED line at Paju with capacity of 7,500 substrates per month, expected to begin operations in 2028; industry reporting describes the line as a hybrid facility supporting R&D validation of next-generation processes and backup mass production for Apple.[8](https://www.thelec.net/news/articleView.html?idxno=6744)
## Customers and dependence on Apple
The customer base is highly concentrated: the top ten customers comprised 92% of total sales revenue in 2025, and overseas sales were approximately 96% of total sales.[2](https://www.sec.gov/Archives/edgar/data/1290109/000119312526101115/fy25_ar_cgsh_-250003129-.htm) Apple is LG Display's largest customer and continues to dual-source panels to maintain negotiating leverage.[5](https://www.briefasia.com/en/article/lg-display-turns-profitable-lcd-exit-cuts-production-costs) LG Display supplies OLED panels for three iPhone 17 models (standard, Pro Max, and Air) and supplies all panels for the 2025 [Apple Watch](https://www.edgepedia.org/apple-watch) after Japan Display withdrew.[12](https://en.topdaily.kr/articles/12011) Industry estimates put Apple's total 2026 OLED demand, including bar-type and foldable devices, at about 230 to 250 million units, of which [Samsung Display](https://www.edgepedia.org/samsung-display) is expected to supply 130 to 150 million, LG Display about 80 million, and BOE 30 to 40 million; LG Display's iPhone shipments are seen rising by roughly 10 million units from about 68 million in 2025.[8](https://www.thelec.net/news/articleView.html?idxno=6744)
One measure of the Apple relationship has changed sharply. LG Display's short- and long-term advance payments fell 96.8% to KRW 36 billion at end-2025 from KRW 1.0891 trillion a year earlier, ending its reliance on Apple advance payments.[12](https://en.topdaily.kr/articles/12011)
## By the numbers
The financial trajectory shows a three-year loss followed by a narrow return to profit. Revenue was KRW 21,331 billion in 2023, KRW 26,615 billion in 2024, and KRW 25,810 billion in 2025; operating income was (KRW 2,510 billion), (KRW 561 billion), and KRW 517 billion respectively.[13](https://fo.lgdisplay.com/eng/company/investment/finance) The operating margin improved from (12)% in 2023 to (2)% in 2024, and 2% in 2025.[2](https://www.sec.gov/Archives/edgar/data/1290109/000119312526101115/fy25_ar_cgsh_-250003129-.htm) Cumulative operating losses over 2022–2024 totaled KRW 5.1558 trillion.[12](https://en.topdaily.kr/articles/12011) Gross profit rose from KRW 345 billion in 2023 to KRW 2,575 billion in 2024, and KRW 3,376 billion in 2025.[13](https://fo.lgdisplay.com/eng/company/investment/finance) EBITDA rose from KRW 4.6 trillion in 2024 to KRW 4.9 trillion in 2025.[2](https://www.sec.gov/Archives/edgar/data/1290109/000119312526101115/fy25_ar_cgsh_-250003129-.htm)
**Quarterly texture.** Q4 2025 revenue was KRW 7,201 billion with operating profit of KRW 169 billion and a net loss of KRW 351 billion.[3](https://news.lgdisplay.com/en/2026/01/lg-display-reports-2025-earnings-results/) The company reduced losses by about KRW 2 trillion in 2024 versus 2023 and improved performance by around KRW 1 trillion in 2025 versus 2024.[3](https://news.lgdisplay.com/en/2026/01/lg-display-reports-2025-earnings-results/) In H1 2026 it posted a Q2 operating loss of KRW 107.7 billion, driven by about KRW 240 billion of one-time voluntary-retirement costs, but achieved first-half operating profit of KRW 39 billion on revenue of KRW 11.1461 trillion, its first first-half profit since 2021.[14](https://en.edaily.co.kr/news/eda202607225365/) Cost of sales fell 7.5% to KRW 9.62 trillion in H1 2026, lowering the cost-of-sales ratio to 86.3% from 89% as LCD restructuring took effect.[5](https://www.briefasia.com/en/article/lg-display-turns-profitable-lcd-exit-cuts-production-costs)
**Capital spending.** Capital expenditures were cut from the mid W3 trillion range in 2023 to the low W2 trillion range in 2024, and the mid W1 trillion range in 2025; the same filing states cash-out capex of around W1.4 trillion in 2025, and 2026 plans call for an increase to the mid-to-upper W2 trillion range.[2](https://www.sec.gov/Archives/edgar/data/1290109/000119312526101115/fy25_ar_cgsh_-250003129-.htm) The average selling price of panels shipped in Q4 2025 was USD 1,297 per square meter.[2](https://www.sec.gov/Archives/edgar/data/1290109/000119312526101115/fy25_ar_cgsh_-250003129-.htm)
## Why LCD became unprofitable, and the exit
Chinese panel makers BOE, TCL CSOT, and HKC now control roughly 60% of global LCD capacity, and price competition made large LCD panels a low-margin business.[5](https://www.briefasia.com/en/article/lg-display-turns-profitable-lcd-exit-cuts-production-costs) LG Display closed the P5 fab (notebook and mobile LCD panels), the P7 fab (TV panels), and P62 between 2022 and 2023 as part of its shift toward OLED.[4](https://www.sec.gov/Archives/edgar/data/1290109/000119312526183413/lpl-20251231.htm) In September 2024 it agreed to sell its entire equity interest in LG Display (China) and LG Display Guangzhou to TCL China Star Optoelectronics Technology for approximately W2.2 trillion; the sale completed effective April 1, 2025, fully discontinuing TFT-LCD TV panel production.[4](https://www.sec.gov/Archives/edgar/data/1290109/000119312526183413/lpl-20251231.htm) Samsung Display had ended LCD production in the first half of 2022, so from April 2025 only LG Display's IT-oriented LCD lines remained active among Korean makers.[6](https://displaydaily.com/state-of-the-display-industry-q1-2026/)
## Recent developments
Three developments define the period. First, the LCD exit completed: the Guangzhou sale closed in April 2025 and the company discontinued its [LCD television](https://www.edgepedia.org/lcd-television) panel business.[4](https://www.sec.gov/Archives/edgar/data/1290109/000119312526183413/lpl-20251231.htm) • [2](https://www.sec.gov/Archives/edgar/data/1290109/000119312526101115/fy25_ar_cgsh_-250003129-.htm) Second, investment resumed: LG Display will inject a total of W3 trillion, consisting of W1.5 trillion in long-term, low-interest funds from the National Growth Fund and W1.5 trillion in internal resources, into next-generation OLED technology and production infrastructure,[7](https://www.newsianbiz.com/news/articleView.html?idxno=986) alongside the W1.106 trillion Paju sixth-generation line for 2028[8](https://www.thelec.net/news/articleView.html?idxno=6744) and a $900 million domestic investment announced at SID 2025, its first major domestic investment since fully exiting LCD production.[15](https://www.androidauthority.com/lg-display-oled-revolution-3585677/) Third, profitability returned: 2025 was the first full-year operating profit in four years,[3](https://news.lgdisplay.com/en/2026/01/lg-display-reports-2025-earnings-results/) and H1 2026 delivered the first first-half surplus since 2021.[14](https://en.edaily.co.kr/news/eda202607225365/)
## References
1. [Spotlight on LG Display – the WOLED pioneer, Apple's second OLED supplier, and its new bet on maskless OLED production, OLED-Info](https://www.oled-info.com/spotlight-lg-display-woled-pioneer-apples-second-oled-supplier-and-its-new-bet)
2. [LG Display Co., Ltd. Form 6-K filed March 11, 2026 (FY2025 annual report), SEC](https://www.sec.gov/Archives/edgar/data/1290109/000119312526101115/fy25_ar_cgsh_-250003129-.htm)
3. [LG Display Reports 2025 Earnings Results, LG Display Newsroom](https://news.lgdisplay.com/en/2026/01/lg-display-reports-2025-earnings-results/)
4. [LG Display Co., Ltd. Form 20-F for the period ended December 31, 2025, SEC](https://www.sec.gov/Archives/edgar/data/1290109/000119312526183413/lpl-20251231.htm)
5. [LG Display Turns Profitable as LCD Exit Cuts Production Costs, BriefAsia](https://www.briefasia.com/en/article/lg-display-turns-profitable-lcd-exit-cuts-production-costs)
6. [State of the Display Industry: Q1 2026, Display Daily](https://displaydaily.com/state-of-the-display-industry-q1-2026/)
7. [Samsung and LG Display Accelerate Investment in High-Value OLED, Newsian Business](https://www.newsianbiz.com/news/articleView.html?idxno=986)
8. [LG Display to Invest 1.1 Trillion Won in Sixth-Generation OLED Line Expansion, The Elec](https://www.thelec.net/news/articleView.html?idxno=6744)
9. [63-3: A Latest Milestone in WOLED Technology for OLED TV and IT Displays, SID Digest](https://sid.org/Portals/sid/Files/SID-Digest/docs/63-3.pdf)
10. [Interview: 4th-Generation OLED Captivates the World, LG Display Newsroom](https://news.lgdisplay.com/en/2025/07/interview-4th-generation-oled-captivates-the-worldturning-the-limits-of-technology-into-the-reality/)
11. [LG Display corporate history page](https://www.lgdisplay.com/eng/company/info/history)
12. [The paradox of LG Display's sharp decline in advance payments, TopDaily](https://en.topdaily.kr/articles/12011)
13. [LG Display Investor Relations – Financial Statements](https://fo.lgdisplay.com/eng/company/investment/finance)
14. [LGD Posts 107.7 Billion Won Operating Loss in Q2… Achieves First-Half Profit for the First Time in Five Years, EDAILY](https://en.edaily.co.kr/news/eda202607225365/)
15. [LG Display's 15-year OLED journey, Android Authority](https://www.androidauthority.com/lg-display-oled-revolution-3585677/)
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*Topic: Encyclopedia › Society and history › Economics and business › Business and work › Companies and commercial industries › Electronics and technology companies*
*Initially written Oct 10, 2026 · Edited: Oct 11, 2026; Oct 15, 2026*
*Copyright 2026 EdgeChat AI, a subsidiary of Biostate AI.*
License: Edgepedia Community License 1.0, https://www.edgepedia.org/edgepedia/license