Seoul: LG Display Co., a major South Korean display panel maker, said Thursday the average sales price of its panels surpassed US$1,000 in the second quarter for the first time since 2023. The company's first-half business report showed the average sales price of its panels per square meter reached $1,056 in the April-June period, surpassing the threshold for the first time since the $1,064 tallied in the fourth quarter of 2023.
According to Yonhap News Agency, the increase came as the company suspended its liquid-crystal display (LCD) business, which had lower sales prices. The company mentioned that the average panel price can fluctuate down the road depending on its product mix. LG Display accounted for 12.9 percent of the global market for medium and large-sized panels in the first half, down from 15.7 percent a year earlier.
Chinese panel makers are proactively investing to expand their presence in the LCD sector, the company noted, highlighting that South Korean firms are now more focused on the organic light-emitting diode (OLED) display segment. The company also allocated 10.4 percent of its sales to research and development projects in the first half, up from 8.4 percent a year earlier.
LG Display employed 25,057 people as of June, with the average paycheck in the first half estimated at 45 million won ($32,560). Jeong Chul-dong, chief executive officer (CEO) of LG Display, received 720 million won in the first half, the report also showed.