Q3 2024 LG Display Co Ltd Earnings Call

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Good afternoon, I am Brian Hall in charge of LG display IR team on behalf of the company and thank you to all the participants for joining US today in our third quarter 2024 earnings calls today I have with me our CFO Seung Yun Kim sent mainland senior Vice President of corporate planning, Kim Duncan Vice President of Finance Kiang.

D in charge of business intelligence, Qingdao, Kim Vice President of large display planning and management you shouldn't on until he just medium display planning and management senior OPEC and charge, a small display planning and management and key Hansen VP of auto marketing.

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Speaker Change: The conference call will be conducted in both Korean and English for more details. Please refer to the provisional earnings disclosed today for the I R events section on the company's website.

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Speaker Change: Also before we begin please take a moment to read the disclaimer.

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Also as a reminder, today's results are based on consolidated Ifr as standards prepared for your benefit and has yet to receive an audited by an outside auditor.

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Speaker Change: Now begin with the earnings results for the third quarter of 'twenty 'twenty four against the backdrop of uncertainties continuing in the downstream I T product market, there was adjustment and shipment for certain product lineup. While we saw a rise in small panel shipment, including smartphone panels, which had a positive impact on this quarter's result.

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Speaker Change: As such Q3 revenue posted six trillion $821 3 billion won recording 2% Q over Q growth and on greater impact from OLED centric business portfolio transition there was 43% year over year growth.

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Speaker Change: In terms of P&L, we are seeing results materialize from OLED centric business structure upgrades well activities around corporate wide cost savings and operational efficiency gains continued to drive an uptrend in performance.

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Speaker Change: In Q3, and hence operating loss came in at 80.6 billion won including one off expense of more than 100 billion won related to ERP program, which took place during the quarter.

Speaker Change: But even with this cost impact we narrowed the loss versus previous year, and it's also worth noting one positive effect that despite greater market uncertainties, there hasnt been significant profitability improvement year over year.

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Speaker Change: Next is on area shipment and ASP per square meter.

Speaker Change: Third quarter area shipment declined 3% Q over Q due to lower shipment of mid sized I T products I E notebook Pcs and tablets versus that guidance well on a year over year basis higher TV panel shipment drove area shipment growth of 32%.

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Our upgrades well activities around corporate wide cost savings and operational efficiency gains continued to drive an uptrend and performance.

Speaker Change: In terms of ASP per square meter there was an increase of 6% Q over Q2 $825 on the back of shipment growth in small OLED products, including panels for smartphones.

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Speaker Change: In Q3, and hence operating loss came in at $80 6 billion won including one off expense of more than 100 billion one related to ERP program, which took place during the quarter.

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Speaker Change: Next is product revenue mix in Q3 mobile and others accounted for the biggest portion of the revenue mix at 36%. This was driven by growth in small product shipment, including smartphone panels, which was up 13 percentage points Q over Q and 10 percentage points year over year.

Speaker Change: But even with this cost impact we narrowed the loss versus previous year, and it's also worth noting one positive effect that despite greater market uncertainties. There has been significant profitability improvement year over year.

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Speaker Change: And we expect there to be accretive Q over Q expansion in the fourth quarter.

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Speaker Change: Next is on area shipment and ASP per square meter.

Third quarter area shipment declined 3% Q over Q due to lower shipment of midsized product I E notebook Pcs and tablets versus that guidance.

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Speaker Change: On a year over year basis, higher TV panel shipments drove area shipment growth of 32%.

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Speaker Change: In terms of ASP per square meter there was an increase of 6% Q over Q2 $825 on the back of shipment growth in small OLED products, including panels for smartphones.

Speaker Change: I T segment revenue was 33% less than the previous quarter on the back of sluggish downstream demand, which is slowing down industries overall recovery, which in turn is driving higher volatilities across different product lineup.

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Speaker Change: T V panel revenue stayed relatively flat with no fluctuations accounting, 23% of the revenue mix in Q3.

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Speaker Change: <unk> segment revenue is sustaining its annual growth trajectory, but in Q3, it accounted for 8% of the revenue mix down by one percentage points Q over Q due to the differences arising from quarterly shipment planning.

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Speaker Change: Oh, let share out of the total revenue increased 16 percentage points year over year and up six percentage points Q over Q, reaching 58% as we continued to solidify the benefits of business structure upgrades.

Speaker Change: Next is product revenue mix in Q3, mobile and others accounted for the biggest portion of the revenue mix at 30%.

Speaker Change: This was driven by growth in small product shipment, including smartphone panels, which was up 13 percentage points Q over Q and 10 percentage points year over year, and we expect there to be accretive Q over Q expansion in the fourth quarter.

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Speaker Change: Next is on the financial position and key business metrics.

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Speaker Change: Q3, cash and cash equivalent was one trillion and $787 7 billion won after accounting for assets of China's Guangzhou Fab, which was reclassified under assets held for sale. So if we were to include back. This item total cash and cash equivalent will amount to two trillion 75.1 billion won.

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Speaker Change: <unk> segment revenue was 33% less than the previous quarter on the back of sluggish downstream demand, which is slowing down industries overall recovery, which in turn is driving higher volatilities across different product lineup.

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Speaker Change: Part of the borrowings was also separately classified under held for sale, which explains the Q over Q change well I said and liabilities are all inclusive of held for sale line items.

Speaker Change: TV panel revenue stayed relatively flat with no fluctuations accounting, 23% of the revenue mix in Q3.

Speaker Change: Debt to equity ratio and net debt to equity ratio recorded 297% and 156%, respectively, which is somewhat of an increase Q over Q.

Speaker Change: Auto segment revenue is sustaining its annual growth trajectory, but in Q3, it accounted for 8% of the revenue mix down by one percentage points Q over Q due to the differences arising from quarterly shipment planning.

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Speaker Change: OLED share out of the total revenue increased 16 percentage points year over year and up six percentage points Q over Q, reaching 58% as we continued to solidify the benefits of business structure upgrades.

Speaker Change: Next is on Q4 guidance, we continue to see uncertainties in the downstream my Kid for I T products, which may cause shipment volatility depending on the product segment, but on shipment expansion for T V and notebook PC panels Q over Q, we project mid single digit purse.

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Speaker Change: Next is on the financial position and key business metrics Q3, cash and cash equivalent was one trillion $787 7 billion won after accounting for assets of China's Guangzhou Fab, which was reclassified under assets held for sale. So if we were to include back this item total cash in.

Speaker Change: ASP per square meter is also expected to rise by mid single digit percent driven by growth in smartphone panel shipment following the trajectory of the previous quarter.

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Speaker Change: Next I will turn it over to our CFO has hung Yung Kim who will walk you through the key highlights.

Speaker Change: Cash equivalent will amount to two trillion $75 1 billion won.

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Speaker Change: Good afternoon, I'm CFO sang Don Kim Thank you for joining our earnings call today.

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Speaker Change: Part of the borrowings was also separately classified under held for sale, which explains the Q over Q change well I said and liabilities are all inclusive of held for sale line items that.

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Speaker Change: Debt to equity ratio and net debt to equity ratio recorded 297% and 156%, respectively, which is somewhat of an increase Q over Q.

Speaker Change: Despite sluggish downstream demand in a high volatility seen in the external environment. The company was able to drive business performance on a sustained basis underpinned by stronger fundamentals. Following the OLED centric structural upgrades. We are also focusing on our capabilities around games in operation.

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Speaker Change: Efficiency and improvement in profit supported by rigorous cost innovation activities.

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Speaker Change: Next is on Q4 guidance, we continue to see uncertainties in the downstream my Kid for I T products, which may cause shipment volatility depending on the product segment, but on shipment expansion for T V and notebook PC panels Q over Q, we project mid single digit person.

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Speaker Change: As previously mentioned Q3 earnings reflects one off ERP related expense, but excluding this impact we saw business performance improve both on Q over Q and year over year basis in a meaningful way.

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Speaker Change: ASP per square meter is also expected to rise by mid single digit percent driven by growth in smartphone panel shipments following the trajectory of the previous quarter.

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Speaker Change: Next I will turn it over to our CFO sung Kim who will walk you through the key highlights.

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Speaker Change: Please note that one off expense reflected in Q3 results amount to around mid <unk> hundred billion won and although we cannot disclose the head count number and details of the ERP program. We expect there will be more than 100 billion one of annual labor cost reductions following the implementation of this year's.

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Sung Kim: Good afternoon, I'm CFO has hung in Kim Thank you for joining our earnings call today.

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Speaker Change: Despite sluggish downstream demand a high volatility seen in the external environment. The company was able to drive business performance on a sustained basis underpinned by stronger fundamentals. Following the OLED centric structural upgrades. We are also focusing on our capabilities around games in operation.

Speaker Change: In the fourth quarter, we will continue to scale up business structure around OLED to drive improvement in fundamentals and business performance and ensure earning stability to a company wide activities such as operational efficiency gains against the backdrop of highly uncertain and volatile macro.

Speaker Change: Efficiency and improvement in profit supported by rigorous cost innovation activities.

Speaker Change: Environment.

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Speaker Change: Next moving onto plans and strategies for each of our business to me.

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Speaker Change: For medium OLED business underpinned by stable supply and technology leadership, we will solidify our business competitiveness.

As previously mentioned Q3 earnings reflects one off ERP related expense, but excluding this impact we saw business performance improve both on Q over Q and year over year basis in a meaningful way.

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Speaker Change: For <unk>, we will keep reinforcing our leadership in tandem OLED technology known for superior durability and performance like long life high luminance and low power and plan to build up an efficient framework that can maximize the use of current production infrastructure.

Speaker Change: Please note that one off expense reflected in Q3 results amount to around mid <unk> hundred billion won and although we cannot disclose the head count number and details of the ERP program. We expect there will be more than 100 billion one of annual labor cost reductions following the implementation of this years efficient.

Speaker Change: In step with the changing market environment.

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Speaker Change: OLED for mobile will leverage stronger production capacity and capabilities to drive shipment expansion and also secured topline growth and profitability through product diversification.

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Speaker Change: In the fourth quarter, we will continue to scale, our business structure around OLED to drive improvement in fundamentals and business performance and ensure earnings stability through a companywide activities such as operational efficiency gains against the backdrop of highly uncertain and volatile macro environment.

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Speaker Change: Next moving onto plans and strategies for each of our business to me.

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Speaker Change: In large OLED business based on close collaboration with customers. We plan to expand on high end differentiated product lineup, such as gaming monitors and ergonomic product incorporating even the health related needs of the users.

Speaker Change: For medium OLED business underpinned by stable supply and technology leadership, we will solidify our business competitiveness.

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Speaker Change: Our two molybdenum Tungsrom corridor.

Speaker Change: On top of focusing on ultra large and ultra high definition products. We will also push forward with quality centric growth that drive bottomline enhancements by innovating the operational structure around cost savings and efficient production and sales strategies underpinned by end user demand.

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Speaker Change: For <unk>, we will keep reinforcing our leadership in tandem OLED technology known for superior durability and performance like long life high luminance and low power and plan to build up an efficient framework that can maximize the use of current production infrastructure.

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Speaker Change: OLED for mobile where leverage stronger production capacity and capabilities to drive shipment expansion and also secured topline growth and profitability through product diversification.

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Speaker Change: Next is the auto business, although EV market growth seems to have dampened and they are to a certain extent signs of downstream volatility based on robust customer relationship and our differentiated product and technology portfolio like the P. OLED using the tandem technology H.

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Speaker Change: T O and high end L. T. P. S. L. C. D. We will make sure there are no interruptions and winning orders across not only evs, but I see vehicles.

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Speaker Change: Our plan is to build out stable, earning structure through cost competitiveness and by expanding customer segment and increasing share of OLED products.

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Speaker Change: In large OLED business based on close collaboration with customers. We plan to expand on high end differentiated product lineup, such as gaming monitors and ergonomic products, incorporating even the health related needs of the users.

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Speaker Change: Next is on the company's investment activities with external uncertainties, continuing for longer and higher volatilities seen on the demand side, we would take on a conservative approach and running and reviewing the Capex plan.

Speaker Change: On top of focusing on ultra large and ultra high definition product. We will also push forward with quality centric growth that drive bottomline enhancements by innovating the operational structure around cost savings and efficient production and sales strategies underpinned by end user demand.

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Speaker Change: Tandem through coupon plus to Hulu <unk> heightened the ATP as soon as she did I'm, probably a little bit into Q3.

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Speaker Change: For the time being our priority is placed on strengthening business fundamentals and financial soundness, while securing steady stream of profitability. We plan to maximize use of current infrastructure, while cautiously proceeding with new investments for expansion.

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Speaker Change: The industry.

Speaker Change: Okay.

Speaker Change: Next is the auto business, although EV market growth seems to have dampened and they are to a certain extent signs of downstream volatility based on robust customer relationships and our differentiated product and technology portfolio like the P. OLED using the tandem technology.

Speaker Change: Under this overarching approach in full consideration of external environment and demand, whereas we would be enhancing investment efficiency by focusing on ordinary recurring basis investment and essential investments required for our business structure upgrades and for gaining of technological competencies.

Speaker Change: T O and high end L. T. P. S. L. C. D. We will make sure there are no interruptions and winning orders across not only evs, but I see vehicles.

What are your lunch and I need to be equal. So then you draw into money at Hotmail approved which are those fixed coupon and some go to Mexico kicking me, though.

Speaker Change: Our plan is to build out stable earnings structure through cost competitiveness and by expanding customer segment and increasing share of OLED products.

Speaker Change: Capex for the year, hence is expected to be in the mid two trillion level down by around one trillion won year over ear as Capex plan will be managed based on the cash flow generated under a profitability centric approach.

Speaker Change: Tom would have to draw too many of them are somebody gets swindle.

Speaker Change: I'm going to approach has shown some good they will reopen dongsheng Duan who present time, you get home to German for Sweden, consumer so contango.

Speaker Change: Okay.

Speaker Change: She's younger too I'm, giving it broke through some well sure if in doing some niches that we knew how long you know.

Speaker Change: Even though.

Speaker Change: Next is on the Companys investment activities with external uncertainties, continuing for longer and higher volatility seen on the demand side, we would take on a conservative approach and running and reviewing the Capex plan.

Speaker Change: Could you could always Hong Kong Bill, we don't have a total of 612 Schmidt. So Alban changzhou turns into getting she took cause them to lose you another little quicker similar consolidator.

Speaker Change: And boom women's hoped as we work to move it from one tumor one doing so in Colorado and doing business with someone Oklahoma go shoot which ones. When you do hand on IL 200, Purion improved shadow of Mordor Oatmeal Chengdu Hangzhou.

Speaker Change: Despite continuing my Kid and external uncertainties and Volatilities in the end user demand through profitability centric business operations underpinned by the outcomes of this is structural upgrades and operational efficiency gains we will continue to bring gradual improvement in earnings as we go forward.

Speaker Change: Should you need to know what you don't want to do it. So it's how we present them to hang Garcia, who is the only real media Cordero.

Speaker Change: Thank you.

Speaker Change: Good Joe corridor.

Speaker Change: You talked a little you touched upon on some bogey just switching neoma pay pretty much gives me the common CIT ended up she got they've got through August will be the operator, katana in Chile and up on the reproductive emitter.

Speaker Change: And you all know Paul Thompson to Joe could you walk us through long young upwards tomorrow to the Who's who took who holds a meter.

Speaker Change: Yeah.

Speaker Change: For the time being our priority is placed on strengthening business fundamentals financial soundness.

Speaker Change: That brings us to the end of the earnings presentation for Q3 of 'twenty 'twenty four we will now take your questions I would like to ask the operator to please commence with the Q&A session.

Speaker Change: Securing steady stream of profitability, we plan to maximize use of current infrastructure, while cautiously proceeding with new investments for expansion.

Speaker Change: Chicken little Chilean Babylonish that need a channel there that you put in so I'll now give up Tonight hope you're what you bought the largest about them either.

Speaker Change: Under this overarching approach in full consideration of external environment and demand, whereas we will be enhancing investment efficiency by focusing on ordinary recurring basis investment and essential investments required for our business structure upgrades and for gaining of technological competencies.

Speaker Change: She's a wash it out mountain pipe you why he bought near the largest schmidt and meter well not envisioning yeah, Yeah Chamberlain had been dumped forgotten it'll protected in beta.

Speaker Change: Now Q&A session will begin please press star one that Istar and one if you have any questions.

What are your lunch and I need to be <unk>. So then you draw into money at Hotmail approved which although fishing in Gabon and Congo mixture of we don't want to give me that.

Questions will be taken according to the order you have pressed the number of star one.

Speaker Change: For cancellation. Please press star two that is star and two on your phone.

Speaker Change: Capex for the year, hence is expected to be in the mid two trillion level down by around one trillion won year over ear as Capex plan will be managed based on the cash flow generated under a profitability centric approach.

Speaker Change: In order to allow as many Q&A chances as possible within the restricted time, we would appreciate only two questions per each participant.

Speaker Change: Tell him at all Tim when that does happen then K between what they can do what do you mean EBITDA.

Speaker Change: The first question will be provided by one Kim from Kb Securities. Please go ahead with your question.

Speaker Change: Yeah.

Speaker Change: She's younger to pursue some more surety and doing some niches that we knew how long you know.

Speaker Change: Yeah. It came over here comes on it Oh I told them to go to use them in three years from now.

Speaker Change: So could you who doors Hong Kong Bill when you look at total system do Schmidt so when oil changzhou turns into getting should took into route you will never go to a similar consolidator.

Speaker Change: Although it should be T. B fit all makeup metabolism and you've had your own Pom girl someone with whom you with you yeah. Okay movie you can either my summation me all kinds of reasons.

Speaker Change: Despite continuing market and external uncertainties and volatilities in the end user demand.

Speaker Change: Hum them phone telephone and Kim Oklahoma. They got you Don touched on it part of it you're doing as a general rule. Just wanted maybe you cannot go on I'm guessing are.

Speaker Change: The profitability centric business operations underpinned by the outcomes of this is structural upgrades and operational efficiency gains we will continue to bring gradual improvement in earnings as we go forward. Thank you.

Speaker Change: Either in Chicago can talk with you guys.

Speaker Change: Uh huh.

Speaker Change: Thank you for taking my question I have two questions that I would like to ask the first one is your plans in terms of their use of the cash proceeds that you would get from the sale of the Hangzhou S. E. D. T V set plan, we'd like to like you to provide some color as to how you would be making use of that.

Speaker Change: If I'm wrong, you touched upon on some bogey Geo switching neoma I pretty much gives me the tomo and Chilean gaps you're on the lookout through August will be the operator, Catherine should end up in a really productive emitter.

Speaker Change: Proceeds and after the inflow of the cash what impact would that have on your financial metrics. My second question is including the assets that are currently classified under held for sale. It seems you have cash and cash equivalents amounts. So around two trillion at sea and also it seems there's been some change compared to the previous number.

Speaker Change: That brings us to the end of the earnings presentation for Q3 of 'twenty 'twenty four we will now take your questions I would like to ask the operator to please commence with the Q&A session.

Speaker Change: Chicken little Chilean beverage that cognizant leader, Jim on that asset, but in talking about Tonight Hope Hawaii, born they're the largest ship out of that.

Can you provide some explanation with regards to the difference.

Speaker Change: Timber notes used to wash it out beyond the <unk> E Tron, they're the largest meant in Utah, one that I'd hate to negative yeah, Yeah Chamberlain had been dumped forgot the NATO protecting that.

Speaker Change: Oh, Yeah, I know, who the sheer pull me though.

Speaker Change: Hum.

Speaker Change: Hmm.

Speaker Change: To go on until you go pull some should be the Wuxi do couldn't you Oh, you're gonna kiss ought to be doing a pocket. So we'll do what you're supposed to me though.

Speaker Change: Now Q&A session will begin please press star one that Istar and one if you have any questions.

Speaker Change: Questions will be taken according to the order you have pressed the number of star one for.

Speaker Change: This is the CFO responding to your question. After we made our disclosure on September 30th there had been a series of news articles that followed.

Speaker Change: For cancellation, please press star two that Istar and two on your phone.

Speaker Change: In order to allow as many Q&A chances as possible within the restricted time, we would appreciate only two questions per each participant.

Speaker Change: Oh boy she'll do cookies on unknown.

Speaker Change: Oh, it's Moody's had two bumbling and.

I'll.

Speaker Change: Tell me when that does happen then cables and coil that can do one you mean leader. The first question will be provided by two one Kim from Kb Securities. Please go ahead with your question.

Speaker Change: Talk can do we can keep them in person.

Speaker Change: To sum it up.

Speaker Change: Now I also personally had a very closely read and follow those articles, but I have to say that though and none of none of these articles clearly portrayed or accurately portrayed how things were.

Speaker Change: Some of your concern me the autonomy to couches in months or years.

Speaker Change: Although it should be to be fit all makeup Tucker how do your own panga Chung in young from you with you Tim opioid can either.

Speaker Change: Oh, you're sort of home analyst, who wouldn't do do come to conclusion.

Speaker Change:

Speaker Change: Oh yeah.

Speaker Change: So tomorrow.

Speaker Change: Cause shingle what piffle cigar.

Speaker Change: Yes.

Speaker Change: John Stifel, John Debbie you cannot go into Boston.

Speaker Change: He could deny either.

Speaker Change: Oh don't punish Hulu TV erosion and go talk.

Speaker Change: She wasn't getting hung on subsidies.

Uh huh.

Speaker Change: Got it and they don't want them to come back to the workforce.

Yeah.

Speaker Change: Thank you for taking my question I have two questions that I would like to ask the first one is on in.

Speaker Change: And I believe that is one of the reasons why the analysts are also having a difficult time understanding the clear structure of this deal and the transaction. So today I would like to take the opportunity to provide you with the explanation regarding how the deal was structured and how the payment is actually going to be settled without disclosing all of this.

Speaker Change: In terms of their use of the cash proceeds that you would get from the sale of the Hangzhou S. E D T V.

Speaker Change: I would like to let you to.

Speaker Change: And how you would be made.

Speaker Change: And after the inflow of the cash what impact would that have on your financial metrics.

Speaker Change: Specifics.

Speaker Change: Oh <expletive> I'm born components critical to publish clinical Lucy.

Speaker Change: Second question is including the assets that are currently classified under held for sale. It seems you can cash equivalents so round two trillion.

Speaker Change: Someone could even most of them all.

Speaker Change: Oh.

Speaker Change:

Speaker Change: Process has hung in solar PV, Chilean homebuilding and parts of it so how do you check on it all monies will go down and so it will be how long that might get them in the middle.

Speaker Change: It seems there's no change.

But to the previous number can you might some explanation.

Speaker Change: Okay.

Speaker Change: In the previous conference call I mentioned that the whole process may take some time and I said as such because if you look at the whole deal process up until the time that the deal actually closes there was a certain step that will be quite time consuming.

Speaker Change: John This is a ship.

Speaker Change: Hum.

Speaker Change: Hum.

Speaker Change:

Speaker Change: We should do.

Speaker Change: Okay.

Speaker Change: Yeah.

Speaker Change: Yes.

Okay.

Speaker Change: Yeah.

Speaker Change: Caused some spillage fishing mimic calc. So gosh, you got to go Oh Penguins actually walked how much you didn't do it Oh processed foods co combustion to the minute.

Speaker Change: Yeah.

Speaker Change: Good morning.

Speaker Change: Do we make.

Speaker Change: Okay.

Speaker Change: Please ask.

Most of that followed.

Killed Conoco Highlander school children Google.

Speaker Change: Sure.

Speaker Change: Hmm.

Speaker Change: Okay.

Two of them behind them.

Speaker Change: We go.

Speaker Change: I'll talk.

Speaker Change: On the process.

Speaker Change: Sure.

Yeah.

Speaker Change: Yeah.

Speaker Change: Do you sometimes do.

Speaker Change: It is actually right and true that dated September the 30th we executed an S. P. A share purchase agreement and there is another process that would have to follow after the execution of the agreement, which is that we need to receive approval from seven different countries with regards to the combination of the company.

Speaker Change: Smith.

Speaker Change: Now I also personally had a very closely red and followed.

Okay.

Okay.

Speaker Change: Okay.

Speaker Change: Okay.

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Speaker Change: Oh cool quadrant E pod tringali to yeah to join them.

Speaker Change: Clothing was clear so that once it took them to Google pool with hometown double between yoga them at all.

Speaker Change: It is only after we go through this merger approval can we actually arrive at the closure of this deal and then the relevant payment will be made to US and then we will be able to finalize the whole deal process.

Speaker Change: Oh cool, yes, I'm sure Truman.

Speaker Change: Oh, Daniel bogie by the jumbo there either on the utilities.

Speaker Change: Globally smell.

Speaker Change: And in terms of the timing of this basically our goal is to.

Speaker Change: Finish and finalize the process by the end of the first quarter of next year.

Speaker Change: Critical to trigger she's gonna toss homeowner colleague codelco.

Speaker Change: And Oh, sorry should be similar.

Speaker Change: And basically this is the reason why I had previously mentioned that the whole process may be time consuming.

Speaker Change: Yeah could you.

Speaker Change: Who could make it is loan money to whittle down from Cushing and pooling in deal.

Speaker Change: Got it wouldn't be I suppose a minute.

Speaker Change: We need to do that and it goes from Calgary upon mosquito.

Speaker Change: I have to tell them mumbo between Germany, though.

Speaker Change: And I think there was also a.

Speaker Change: A bit of a misunderstanding with regards to the price the amount of the deal as you know when it comes to an M&A deal even if the asset is a same asset that the M&A deal structure can take many different forms.

Speaker Change: Oh cool.

Speaker Change: You.

Speaker Change: So global generic and loosen you shipped some young do well.

Speaker Change: Oh.

Your room studio room, Gimbal, you didn't know him but to show you some of them.

Speaker Change: As a matter of fact, the whole sale or sell off process for this asset had actually began in the early summer of 2020 three.

Speaker Change: Oh cool car doing it so it's really a group hitting it on any of them.

Speaker Change: So each one of these ships I don't do it all to.

Speaker Change: So basically.

Speaker Change: Cool cause socially culturally anomalies.

Speaker Change: So they're in the process of going through this deal we went through a bidding process in 2024, and we were able to shortlist the preferred a potential buyers and that in fact had as you know been disclosed.

Speaker Change: Oh cool.

Peter: Peter you really cool.

Peter: 111, because you need to I didn't really go out to them to give them some of them.

Peter: So you go.

Peter: Part of the group I couldn't commision.

Peter: You shipped some young mother ship your mother.

Peter: So you got hold your tongue b to G tough on well, how queen and or put in Oh, one doesn't double in the.

Peter: You hit on in Colombia on duty I'll touch on the.

Peter: You shipped some loans to PD, one plus others for me, though.

Speaker Change: Now regarding the bidding process and the price setting process. It. Unlike other types of deal the $10 8 billion. We on the the the figure that we had previously disclosed was based off of December end 2023 figures, including the facilities the equipment the land the asset as well as the <unk>.

Speaker Change: Liabilities and working capital it once again just to elaborate and highlight it was based off of end of 'twenty three figure.

Cause he who who don't go to a new ship borne him to call someone get even greater.

Speaker Change: And the other question to each month to.

Jim when you ship some of them are kitchen rule also I'd be me goose things on the London Cluj affirm didn't Oh cosmos.

Speaker Change: Cause I know, who she didn't know John's for me, though.

Speaker Change: So I mentioned that the closing is expected to happen in first quarter of 2025, and one of the Hum Special thing to note for this particular deal is that with regards to the asset value, which is the facilities and a production asset is valued as of end of 'twenty three and its just from that point.

On that this asset is not going to depreciate.

Speaker Change: You should go normally boomed, you transform them into someone's house on them.

Speaker Change:

Speaker Change: Two quick ones on Dublin take them to Oh tycoons condone.

Speaker Change: Some of them should be remodeled kitchen, and cook them at school issue on some good to me.

Speaker Change: So a man who tired months, sometimes it'll hugging.

Speaker Change: Even though.

Speaker Change: And so how this whole payment is going to be settled is the difference between the liabilities the working capital and the borrowings as of December end of 2023, and the figure as of at the closing of 2025. So it is only the difference and this amount that would be.

Speaker Change: Subject to the the settlement to the payment settlement.

Speaker Change: On Thunder for Egypt.

Speaker Change: <unk> come out with some cool shape will be Nick Holmes from Gogo.

Speaker Change: I know you didn't tell me that would push you want to get a feel.

Speaker Change: She will be and then you should plan on it.

I'll touch on them probably in the middle.

Speaker Change: So until you go off of who she didn't commit further towards the.

Speaker Change: Thomas Andrew Mcgee children couldn't even when the enemy, though mhm.

Speaker Change: [noise], which means that the the earnings performance in the business performance that is generated by the C. A entity, which is the Kwangchow LCD TV fab is going to be reflected in basically in your 2020 for the entity had actually turned around and profit.

Speaker Change: So basically what that goes to show is that compared to the amount and the price that we had previously disclosed I can assure you is that that number is not going to decline.

Yeah, you don't who logically coupons sold Shanxi pool, and showing a school or articles and until you go to Egypt, you won't be conducted on the computer in their school or Tungus shoes can make you can do your total used to speak with them on that.

Speaker Change: Dodging, a kid anybody who saw it home so I need to Milton here.

Speaker Change: Who do it is what you'll notice here, but could you sort of walk us through that.

Speaker Change: So I think it'll be helpful for you to make your projections based upon the rationale and the logic that I have just laid out but since we have not yet closed 20 since fiscal year 2024 accounts yet once the whole deal is closed there may be some difference in the actual price and actual payment.

Speaker Change: At would be received so once we make that payment to finalize we would be able to come back to you and provide you with more detail.

Speaker Change: She's younger so pumps for.

Speaker Change: Oh sure it doesn't pull when you can watch them on and on.

Speaker Change: Oh, so you're going to touch the deal with them.

Speaker Change: Basically juggle Tau ASO really none of them are grown tune.

Speaker Change: Colorado called single Ramadan.

Speaker Change: At the end of the day the market will assess as it wishes, but from my perspective I believe that this actually is the deal transaction that is both a win win for the buyer as well as the seller.

Speaker Change: Okay.

Duncan: Yeah I'm Duncan.

Duncan: Some of them come to us and can with if somebody was going to cost.

Hello This is Kim.

Duncan: This is Kim you don't a V P of finance I will respond to your question about cash and cash equivalent.

Duncan: What are you doing someone's home phone call to your phone you use only thing Jonathan Michael Toman jumped from your kind of ideal cool. She took it on their calls you shouldn't do it comes out hopefully they all kind of it's how long in Utah powerful she talked about getting to them or would you get from it.

Duncan: So are you going to be a shock to them from going through June total coffee, so probably I was on mute.

Speaker Change: So with the starting this year, we have seen improvement in our business performance and through equity increase we were able to stabilize our financial position and we are also gaining more visibility in terms of future uptrend in corporate earnings. So as such we are going to focus our efforts on optimizing the appeal.

Speaker Change: Peer level of cash that we hold in order to reduce any financial expenses and also to allow for a further uptrend or further improvement and financial structure.

It comes on in Glu border because its pretty.

Speaker Change: So Joe can cause it's.

Speaker Change: Global who don't come to you and I'll get to you unless you're an unsecured or by doing a heck of a time when there is one there is more to do.

Speaker Change: So again when you when you kind of thought that would depend on how we see that.

Speaker Change: Since we have in place a structure that allows us to respond to changes in liquidity and to eliminate any mismatch in cash held by different geographies as we can employ and use global cash pooling mechanism and hence we believe that with the cash at about.

Speaker Change: Two trillion level, we will be able to operate our business quite steadily.

Speaker Change: The one who doesn't cause hardship I didnt do pneumostome into one's hug them to dilute up to somewhere in your portfolio you could tell me that some of them and then they would hold true to knit wear boots hug them do they put to preorder shuttle cortisol chamber with jewelry and she's going to go to work because once you can do to somebody about Truecar give me that.

Speaker Change: We also have a sufficient access to various financing a message to the financial markets, including borrowings or loan from bank and also issuance of corporate debt Oh going forward, we are going to optimize our financing portfolio as well as our internal cash flow.

Speaker Change: Generation capabilities, so that we could have a laser focus on improving our financial position.

Speaker Change: Yeah, Tom Salmon Petro August me, though.

Speaker Change: Next question please.

Speaker Change: Hi, Little Timna just shipping in Xi'an two doesn't go ahead I'm Gonna have me me me that the following question will be presented by having them go from Shinhan investment and Securities. Please go ahead with your question.

Speaker Change: Okay No that's helpful.

Speaker Change: And then can you just oh.

Speaker Change: There's multiple things at play.

Dale.

Speaker Change: Cartoon things ought to come down then.

Speaker Change: Oh goodness.

Speaker Change: Tom you in congenital smart vehicles views on Youtube.

Speaker Change: So you don't have useful, let's pause, Austria and bullshit.

Hum.

Speaker Change: Oh I thought you guys on that.

You can just somebody the sharepoint and Dee Ann Johnson, the Ponyboy G from Colombia.

Speaker Change: General and Linda and Judy Judy how wrong.

Speaker Change: I'll admit you you're more did you manage to grow upon.

Speaker Change: Partners Dongles as Alcon G, Oklahoma Squeal about your market share going to put up what are the ones you mentioned.

And in time, Dan or John can you comment on plumbing days, all energy that can be how long you know can't get in Belgium to Benjamin.

Speaker Change: Thank you for taking my question. My question relates to your smartphone business recently, there seems to have been more heightened competition amongst your peers for this business segment would like to understand what your what your thoughts are regarding the our the competition that youre seeing to gain.

Wallet share of your customers would like to know what your strategies are in order to respond to such competition. What's your strategy and also I believe that you would need to manage it seasonality, especially regarding the first half of the year. What are your plans to further enhance the company's value and also to strengthen your business capabilities.

Speaker Change: And and then the second part of the question is that as LG displays coal business. What is your plan to further grow the topline revenue the profit as well as its share out of your total revenue mix. My last question relates to a recent interest and emergence of the Foldable product.

Speaker Change: There seems to be heightened interest around this product segment. What is LG displays plan for this product segment. If you could provide some color there would be appreciated.

Speaker Change: And those who don't care because I'm the Olympics.

Uh huh.

Speaker Change: Several of them, who can do some other which month.

Speaker Change: The other pan out for them.

Speaker Change: Got it cool to moderate some as you mentioned from weeks to Colorado.

Speaker Change: And those who don't know how bogo I ended up it makes us a little longer.

Speaker Change: Yeah, So I'm going to guess on among going to talk to a lot of times with Golar will keep those.

picks: Hello, This is picks and no I'm in charge of small display planning and management responding to your question. Yes, you are correct, we see supply competition heightened across different providers, but our panel shipment continues to show an uptrend and our product mix around the new models is also strengthening so we have seen all of it.

picks: Capabilities regarding technological leadership around the high end products actually improve over the years and we have steady supply capabilities. Hence we expect that still going forward, we will be able to show a continuous uptrend in terms of performance.

Speaker Change: It's multiples all of it because that's the lungs Tricia just so I'm going to come because I agree with I don't go through we've got tons of minerals in about.

picks: I was on.

That alone could we don't bother me with all the Pip I don't know how long can you hold sort of cause law without meda.

When you look at the smartphone business. It is inevitable that due to the the product cycle that there is to a certain extent seasonality factor, but at LG display through diversifying our product models and also further growing and expanding the volume we are going to increase.

picks: The fab utilization so that we may minimize the gap that we see between first half and second half of the year.

picks: Yeah.

Speaker Change: So that was all kind of attributes along you should just be clear.

picks: As long as.

Implicit in the wrong could want to look at all the other ones I'll put a little help with and things unemployed today on hot oil stocks.

picks: But what else had been answered for me because I don't think it's all that through someone's on glass.

picks: Yoga.

Speaker Change: If you look at the mix from the the small businesses in 2021, the revenue mix was 26% increase to 33% in <unk> 2020. Three. So this has been on a growing trend going forward. We will continue to make most all out of our current production infrastructure and.

Speaker Change: Diversify the models as well as increase the shipment so that we may drive improvement in product mix. So that we can ensure topline growth and secure a bottomline profitability.

Speaker Change: Oh God you ended up when there is always something you don't want to see another jump.

Speaker Change: Don't beauty to Injectables, where there's almost no cost to them on getting production going until they were cool further and also create a bonus on top of other soon though and she's on someone else who would want to work with I hope with Alberto I always I'm done under things on them globally, We're just able to port over to promote uncle move hours ago. So you don't see them a little bit when you put it on their own they're talking to.

Speaker Change: So they'll come to those in the keys with me I'm going to go on which we took public yet who looks like you're still going to maintain.

Speaker Change: Doug.

Speaker Change: Regarding the changes in that form factor, particularly around high end products. We do expect there is a specific space for these types of high end products in the total market. However, with a continuation of the macro uncertainties as well as heightened volatility that we're seeing on the demand side we are.

Speaker Change: Very closely monitoring the acceptance of these differentiated and unique products as well as the pace of market growth as we adjust and respond accordingly at this point in time, we are now producing and supplying notebook foldable product to one of the our global customers. We are once again very closely.

Speaker Change: Monitoring the user response and acceptance and we are also experiencing more a broader application of these products segment and in so doing we're building our own technological as well as mass production experience and when our customers makes the request we have the amp.

Speaker Change: Full capabilities to respond accordingly.

Speaker Change: But then you also Thompson remember through August meet up next question. Please.

Speaker Change: Hi, I'm little two miniature been embedded to drink on Atkins sold only meter. The following question will be presented by <unk> Kim from merits Securities. Please go ahead with your question.

Yeah.

Speaker Change: Consolidated EBITDA totaled.

Speaker Change: People don't like I said he was neither.

Speaker Change: Pushing on the I T J Kumar Pocketbook journey times, where they go in and out of that sometimes are what are called kind of quantity. So casinos I'll kick off with a young on the buggy Park with the Queen me, though okay. How long does it also type a little leather C. O a panel philodox almost forgot to garage agreement Watsonville. So you got to do an apples off tons a month okay.

Speaker Change: Are you on that at all times amongst a lot of efficiency.

Speaker Change: None.

Speaker Change: Uh huh.

Speaker Change: Thank you for taking my question My question relates to the demand side, we see that the recovery for the I T product industry is slower than expected and also it is quite a stack.

Speaker Change: Stagnant them as we speak and I think this is having a bigger impact on the higher end more pricier product and as we enter as we entered into the second half of the year. We also see a very clear downward trend in terms of demand for tablet OLED as well as panel shipment, we'd like to know if you.

Speaker Change: And therefore, it had changed your forecast for the future.

Speaker Change: Yeah.

Yeah.

Speaker Change: So although you do have a tongue familiar to me and in tandem.

Speaker Change: It is the type of film glaucoma, the opined on always to me though.

Speaker Change: Now, we still believe that we have the differentiated edge and competitiveness. When it comes to tablets that is developed based off of the tandem technology, because it provides a lower power and longer life characteristics.

Speaker Change: And of course, you're going to do on getting production and there was no thought also to use homeowners.

Speaker Change: I'm gonna suitable insurance it was cool to keep how you ended up coming up in my opinion I thought I would first of all I'm going to talk a reboot to loneliness and find them now having said that because we see continuing macro uncertainties and also delayed recovery in the overall I T device demand and especially for the high end product as well.

Speaker Change: We are in the process of adjusting our original shipment plan.

And just how long do you get to an engineer I'm going to put us rich I'll give them to all compiling something about cigna.

Speaker Change: The open the longest.

Speaker Change: But still since we are in the midst of the fourth quarter. It is a bit too early for us to provide you with a clear cut direction as to what our annual shipment volume will look like.

Speaker Change: Yeah, Tom to remember through August made up next.

Speaker Change: Next question please.

Speaker Change: Hi, I'm little 10 minute, just yet but in an age it doesn't connect you hadn't you mean meter. The following question will be presented by <unk> from NH investment <unk> Securities. Please go ahead with your question.

Speaker Change: Yeah.

Speaker Change: Yes, you got them at all.

Speaker Change: It was seen at all.

Speaker Change: Uh huh.

Speaker Change: That's a critical opinion, how long ball quite down as all Hell will tell all of them for mono terrible conditions, you can she moved and it was well he joins from month to month.

Speaker Change: Kumamoto.

Speaker Change: A bunch of new.

Speaker Change: She says sure Virginia building, winning day built homes Orange terminal and generally as long relationship.

Speaker Change: So.

Speaker Change: 200 of them bookings from Guangdong.

Speaker Change: It gives them all which in Zhengzhou when you own pong ball okay.

It's all the Pomona Congo's Congo.

I don't even know.

Speaker Change: Michigan comes obviously at all.

Speaker Change: Thank you for taking my question I'm EUR from NH Securities I have two questions that I would like to ask we'd like to know well what your price projection is going forward and in line with the panel as well as the set demand assumptions that you have in place is there been any.

Speaker Change: <unk> changes compared to your original forecast and also we see the sluggishness in the I T. L. C. D demand actually are being prolonged when do you think that things will start to normalize and what is LG displays our countermeasures and response, so that you could actually drive improvement in profitability.

My next question is if you could just share with us what the key characteristics are for your product at the St and compared to your peers at the same product segment as well as the price range and for the I T. L. C D and your and also in terms of your I T businesses mid to longer term plan.

Daiichi: Yeah Daiichi on them at all.

Daiichi: C O poniard, there's about some demand.

Daiichi: And towards among them up you get to the Tvs or to someone.

Daiichi: Oh, great Cool Ponderal ITC <unk> Pan Ocean Island, so cause the promotional machine readable evoked animals to be contracted with some either.

Oh, I am and he only in charge of business intelligence responding to your question about the demand now compared to our early air outlook. The T. V set my God, we are expecting is going to contract versus our original expectation, but conversely for the I T cell and panel.

Daiichi: It mostly around the low end low price point product, we are seeing some signs of slight recovery.

Daiichi: Yeah.

Speaker Change: Did you ever go out onto Televisa does your bogie ozone agenda going I'm going to let the T V. She started on tenor trombone Tyco controller.

Speaker Change: They'll be doing them, a tussle long Jonathan because we came out with another.

Speaker Change: Another get one until Monday will come sort of in terms of TV panel to hundreds of toll runs hung do who led it to be on Canada tranches done I was hungry honest isn't there some down years I'm going to do that.

Looking at first their T V. My Kid to the demand from the T. V said my God is currently being delayed but if you just specifically look at the OLED TV market. We had worked on clearing up the inventory so on a year over year basis. We believe that the performance is going to be more stabilized compared to the past and four.

The panel segment with the fall in the downstream inventory level.

Speaker Change: The overall T V panel growth was in the low single digit whilst for the OLED TV panels, we expect to see an outperformance compared to the overall market growth.

Speaker Change: You can get in a global sports event young at all to be pillar go go go as long as soon as they got used to talk about kind of tomorrow.

Speaker Change: Silicon I don't get too hung up on yoga Clinton one of them that I'll touch on that.

Speaker Change: Oh it was.

Speaker Change: Now during the second quarter, because there was big global Sporting event, we saw a one off at T. V panel price uptick. However, this does not mean that there was any structural changes on the demand side. So we do not expect any significant ups and downs of fluctuations when it comes to panel prices.

Speaker Change #100: Well there. It is you don't have people depend on not getting on housing production.

Speaker Change #100: So to our panel will do.

Speaker Change #100: Plus as an entity kind of hung in there with demand globally.

Speaker Change #100: So it depends how you taught me so cool Peter talk of it pole mounted pumps.

Speaker Change #100: It was when I was at that time that we get done with that so as I got a job to be highly undertook placebo yet another not so long ago.

Speaker Change #101: Uh huh.

Speaker Change #102: It's too uncertain at this point in time for us to be definitive of any meaningful recovery in the I T. A product might get this year. We are sensing some ER positive might get data on a year over year basis for the fed and the panel business, but this number actually.

Speaker Change #102: It includes the impact that we've seen in Q2 at Tempe tipping impact because of the global logistics issue and also we are seeing some migration and transition around the lower end of the Beatles seem like it the general purpose to commoditize products.

Speaker Change #102: And hence that seems to be where we are at this point, but in terms of the b to B and high end product demand at this point, we are very closely monitoring how the market plays out.

Speaker Change #102: Oh, so you'll have we'll get young between a junior in the loan Committee United Therapeutics is humana killed by just spending some going on Pinterest.

Speaker Change #102: The other little window tangible nuomi, because you're feeling some do or you don't.

Speaker Change #103: To transfer you Duncan.

Speaker Change #103: Cause us concern.

Speaker Change #103: Are you depending on how you plan to give you a telephony get Ya Man group held up well groomed cause you anecdotally as I always do.

Speaker Change #104: Just to elaborate on some of the factors that may impact the demand would be the changes in the b to C demand with the rate cut environment as well as increases in companies I T spending, which may further expand b to b demand and at the same time with Windows 10, releasing and it's final.

Speaker Change #104: Version and it being terminated as well as increases in the demand for AI based P. CS which will trigger a replacement demand. We think that these factors may work us and we hope that these factors why it got some catalyst. So there may be some quarterly changes regarding the I T panel prices, but.

Speaker Change #104: Even if that all up we expect it to be not too significant.

Speaker Change #105: Tim Young kick or the umbrella news to me, though I should do no onetime yoga didn't happen until it goes from there.

I used to say he also talked about having a cool coyote below doors hung on gigamon appointment.

Speaker Change #105: Children's Johns how I'm going to talk to your point on getting them puzzle audio me somebody the month, Telangana Susana Tuitions Hulbert, Yeah still chugging along curriculum taught soup to pump took so how you ended up pump you talk just a little.

Speaker Change #105: It's really going to get them going with Cui.

Speaker Change #105: We are partners.

Speaker Change #105: All that stuff.

Hello, This is unusual and I'm in charge of medium display planning and management in responding to your question on different I T product segment and demand ensuing demand for those segments. We see differences are called across different product price point and so it's very difficult for us to make very act.

Speaker Change #105: <unk> prediction as to what would happen in the market, having said that the company is really focused on profit over the years and endeavoring to reduce cost and also to reduce the the products that are low margin and to grow the share of high end product and underpinned by our technological com.

<unk> and based upon our partnership with customers.

Speaker Change #105: So I won't talk to you and I, just feel hip wish again them tons of its high better than doing them well.

Speaker Change #105: Look I tell them at all.

Joe Garcia: Hey, Joe.

Joe Garcia: Once it's sewn kits political sort of there's always.

Speaker Change #107: So when the time comes for a full fledged I T demand recovery supported by our differentiated unique capabilities and product competitiveness, we expect that in the high end segment of the market, we wouldn't be able to expand and solidify our positioning which will then translate into improvement in.

Joe Garcia: Profitability.

Speaker Change #108: But Jim I go to all I'm gonna send them on their top of cool competence corner much if at all I guess for me, though.

Speaker Change #108: We will take the final question before we end today's call.

Speaker Change #110: But I'm a little too many interest you have been in humans and connect comes on do you need me to the last question will be presented by one Kim from <unk> Securities. Please go ahead with your question.

Speaker Change #110: Okay.

Speaker Change #111: Oh, no tailwind educated on T mobile navigation.

Speaker Change #111: Another tailwind it depends on what should I bought another JV because under consideration.

Speaker Change #111: And then it will come Gosling I'm thinking you don't you don't English it'll I think the deal.

Retail will not depend on any can you just tell me if I'm kind of I guess I'll close out what's on my adult touched a little daunted overhang okay.

Speaker Change #111: Got.

Speaker Change #112: Hello, I am Kim is all one from kilns Securities I have a question relating to your large OLED panel business. If you look at the shipment. We are looking forward to in year over year increase going forward and come next year. Your depreciation period would also and so aside from the improvement in the macro backdrop in order for you to sell.

Speaker Change #112: The growth for these large OLED business what are some of the efforts that the company is currently planning on.

Speaker Change #112: I'm done.

Speaker Change #113: I'm sure one how should move when it is all good. So you kind of what are the ones in poorer mundane and cause it to how long a ghoul C printers, how to graduate with no somebody or somebody that he goes through that.

Speaker Change #113: Hello, I am Kim Jang don't V P of large display them and I will.

Kim Jang: Provide you with the explanation separating the panels that we supply for the finished product set as well as our panel business separately.

Speaker Change #113: Understood.

Speaker Change #113: Is holding up so most of them didn't at all.

Speaker Change #113: So long and so I'm gonna tons are you telling me that.

Speaker Change #113: So first if you look at the TV set company. The overall total granted is limited at this point you thought of a convicted in Orlando.

Speaker Change #113: Well it depends on when we should really high end the premium you're doomed tumor, though how women's hanmi, though.

Which means that our customers are focused more on the premium the high and the OLED products.

Speaker Change #113: So you're gonna Tvs have.

Speaker Change #113: Corridor Hunton, well sit this opinion overdone and heartburn, but how do we miss on EBITDA.

Speaker Change #113: And they are also undertaking some of the value of improvement applying that to T V set by incorporating a feature.

Speaker Change #115: We just took the time to assume it goes how long an oh <expletive> I thought I'd say go to in terms of them tokens and Ah Hey go when the time either.

Speaker Change #115: And also if you look at the total set might get from a supply chain perspective, the inventories have become more healthier.

Speaker Change #115: You didn't talk about how old are the OLED panel, Tim a little penalties, how long run although no more than them. You mean, there's homegrown alert them get a kick out we miss having him either.

Speaker Change #116: So under this overarching backdrop, if you look at our large sized OLED panels.

Speaker Change #116: On a year over year basis, and we are seeing better performance.

Speaker Change #116: Chris.

Speaker Change #116: And so you could okay.

Speaker Change #116: Oh, so he pamela to hope to get something that's it for me.

Speaker Change #116: Okay.

Speaker Change #116: When did it shouldn't be that how we should do that.

Speaker Change #117: Now in order to further drive meaningful improvement from a earnings perspective at this point to our to our division and in the large OLED business is currently making preparations to further enhance competitiveness.

Speaker Change #118: Got it.

Speaker Change #117: Bruce.

Speaker Change #119: The mirror technology.

Speaker Change #119: To new England gone quiet in this room.

Speaker Change #119: Oh took whom because what are the odds.

How we designed it.

Speaker Change #120: A good case to note is that we're making some technological preparations, especially called the metal technology and also developing technology for eye health eye safety. So we have been able to communicate this with a need to the market.

But otherwise you might put on the Colgate could do it coupon got her she's a harpoon highway cool.

Speaker Change #120: When you move into until you go so could you give us their views on it.

You won't go get their name on a nautical keep doing this honeymoon.

Speaker Change #121: Now last but not least we are also strengthening our customer base and for us to further improve on our profitability structure. We are very much focused on our internal cost improvement activities.

Speaker Change #121: So you got three times, what are you, calling on good old or two and I know two things we needed to really cool to see all of you in London, who are talking to your people and your own things on a man won't go you've seen are 10 years old.

Speaker Change #121: So we're seeing good internet until he gets hung up to New York and I'm pulling it up at all I mean them. So you can get it sooner.

Speaker Change #121: We Miss Hollywood.

Speaker Change #122: So our priority that we have placed us on you're transitioning into a profit making structure. We will also based our fab operation and hadn't really focus and efficiency in terms of fab operation and production sales as well as a cost reduction all of this.

Speaker Change #122: Underpinned and underpinned by the demand that we see from the market and as you've mentioned our depreciation will come to end to next year and we and in this process were to come up with meaningful ways to further improve on our profitability.

Speaker Change #123: Are you talking at all and did you play your Chinese panel and some of them do you switch off for a minute.

Speaker Change #124: But it all gets to me, though some bucket, which mothercare comes out that email phishing.

Speaker Change #124: We wouldn't be doing tomorrow look do we think about them either sometime ago.

Speaker Change #125: Thank you this brings us to the end of the third quarter of 'twenty 'twenty four earnings conference call of LG display. Thank you very much for joining us today and if you have any unanswered questions. Please feel free to contact us at the IR team. Thank you.