Q4 2024 LG Display Co Ltd Earnings Call

Good afternoon, I am Brian Hall in charge of LG display IR team on behalf of the company. Thank you to all the participants for joining US today in our Q4 2024 earnings call today I have with me our CFO keeps telling him he hung who's in charge of business intelligence, Kim Jong dock, Vice president of large display planning and management.

Speaker Change: Mhm chart team head of medium display business strategy picks in new and charge, a small display planning and management and wouldn't be one V. P of auto marketing.

Speaker Change: Comparable squadron Gilman taught them. She route and then it doesn't even though she took off island and some good afternoon coincident I'm don't shoot itself Dunoon, Tata homepage, and our 2000 Boules Hoople noted some Josh forget about them either.

Speaker Change: Today's conference call will be conducted in both Korean and English and for more details. Please refer to the provisional earnings, which we disclosed today on the IR event section on the company's website.

Speaker Change: So it jumped by pay up so this claim or are you going to should give out on me that.

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

Speaker Change: Community sits up by plenty Amen, Jim Hagy, Janine I, a part if it at a young guy to give you a little bit up. Some then shameless tool Oh Gee it will come and so I need comes about when you do the job and then some day at all to the dialogue when they talk.

Speaker Change: Some gains how do we remove unedited me, though.

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

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Speaker Change: Now allow me to begin with our fourth quarter earnings for 2020 for it.

Speaker Change: With continuing OLED centric business structure upgrades smartphone panel shipment in Q4 showed a sizable expansion, resulting in revenue increase of 15% Q over Q and 6% year over year reporting seven trillion $832 9 billion won.

Speaker Change: I was wondering could go move marzipan, no penalty sort of update or Guangdong dongguan when young food or they moved one she took it under the mutual Emil pay their company should be you don't want it all to tornadoes to me though.

Speaker Change: Sure you are on doing some bunk story is how long it here to throw James on the go no go on dental do you should find young younger neuro, none none Debbie young either ones would you need when you go to California, and Arizona, Colorado, Utah Kissed me, though.

Speaker Change: Coupled with smartphone panel shipment expansion rigorous cost savings and operational efficiency supported continuous earnings improvement driving a turnaround in operating profit of $83 1 billion Horton.

Speaker Change: Absent any notable changes in the end user demand and then the relevant downstream market, we were able to drive year over year profit improvement of around two trillion won on a 2020 for full year basis.

Speaker Change: How long do you sort of talking about them than some would you came out you told him than me you'd have some bill noon yup.

Speaker Change: It's from Guangzhou modal Tom boomed, you are answering a meter.

In Q4, we had around mid 100 billion, one one off expense, including ERP related severance pay for a clerical workers, which is similar to the levels of previous quarter.

Speaker Change: I won't get it done in unit shows I'm Jun Nuc seaborne.

Speaker Change: Young Iranians hustle, what's a new pet whoosh about ones at all young gun EBITDA margin, you're doing should put a potent T me, though.

Speaker Change: EBITDA in Q4, we recorded one Chilean $306 5 billion won and on a yearly basis four trillion and 565 billion EBITDA margin rate in 2024 was 17%.

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Speaker Change: Got into it and got Us to me, though.

Speaker Change: Gandzha downtown curriculum smart upon your panorama through some funky Debbie you pose antigen gun powder to September was good okay.

Speaker Change: Next is area shipment and ASP per square meter Q4 area shipment was up 5% Q over Q on shipment expansion driven mostly by T V panels and also in year over year basis, there was 19% increase as TV panel shipment expansion drove over.

Speaker Change: Area shipment growth.

Speaker Change: ASP per square meter also increased 6% Q on Q, reaching 873 U S dollars following volume growth for smartphone panels.

Speaker Change: Hi, I'm at all from the Ultimate revision learn Madison did he gets to me that help them gain in mobile me double my name it shouldn't be doing E. Harsh I'd put them through a jungle conveniently, which I'd tell you asked me that.

Jon Gilligan: Jon Gilligan Kumkum young younger hook bio Mignon, Hello, trigger she talked a little to go win and gentlemen, I'm going to give me that.

Speaker Change: Next is product revenue mix in Q4, mobile and others accounted for the biggest portion of the revenue mix at 42%, it's quite positive to see sustained uptrend in panel shipment every year supported by stable supply capacity.

Speaker Change: I TV when they may be doing some funky there becomes one east purples and through some bunk field would you need hunger then I'm going to say Penguin will get go traveling don't some dual who can give you a loose hung out again I thought I would ask me that.

Speaker Change: <unk> segment revenue was down 28% Q on Q and prolonged sluggishness in the downstream demand and we are seeing varying volatilities in shipment across different quarters by product segments and customers.

John Young: Even when they emerge soon we're leading T Bill and Archrock through Tom Forgive me John Young at the Beach and got US in a suntan image, reaching Guy Young Roku Pizza Moon hung digital couldn't turn up she would you Danielle you should be put into rates, you'll catch me, though.

John Young: Following OLED TV panel shipment expansion television segment revenue posted Q on Q and Y O Y growth accounting for 22% of revenue mix, which was mostly flat due to overall increase in total revenue.

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John Young: Auto segment revenue also increased mid 10% Q on Q and Y O Y while its share of the mix staying at 8% same as last quarter.

John Young: Unsymmetrical era, where leadership from the Navy Blue Moon, some funky mute Tonya Antonucci, Debbie you present to point to something on you actually put them through their two what sort of it will come you all tell me how about Trojan Janine when needed when we see money our portfolio turn unencumbered color Paul hooked it looks to me that.

Speaker Change: Oh, let share out of total revenue was up two percentage points Q on Q and year over year, reaching 60%, which is record high further solidifying the outcome from the company's OLED centric business portfolio transformation.

John Young: Hi, Moon, Tim Whelan longer torture, telling me, though.

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

Speaker Change: How long the hunger meet hung up with some thoughts on an equal EBIT shouldn't you won't hear me I'll say good afternoon Hudson, It's almost forget rockdale young at all so I'm going to be there becomes one equal you would tend to be a CBO binocular close to me though.

Speaker Change: Q4, cash and cash equivalent was two trillion and $21 6 billion, while inventory asset declined two two trillion and $671 2 billion won on the back of shipment expansion in time for the peak season during Q4.

Speaker Change: Would you be able to get us into a computer a cook.

Speaker Change: Bit put into English it will put an email.

Speaker Change: Debt to equity ratio and net debt ratio recorded 307% and 155 per cent respect respectively.

Speaker Change: Hi, Moon, you'd even geek I don't seem to trauma, and juggling kids or Tokyo unit Darden TV, one pillar shrugged them through some funky Debbie hundreds Sue Chung bun.

Speaker Change: Are you telling me that.

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Speaker Change: And Ah well there you talked about our young uptake you, Bonnie leading neuroscience and little to no longer needed won't Geek I. Just don't if you don't then hold doggie closer look you'd at least to me though.

Speaker Change: In terms of Q1 guidance, we project area shipment to see a decline in TV panel shipment impacted by seasonality reporting a decline of more than a mid single digit for Q over Q.

Speaker Change: ASP per square meter is expected to fall by around mid 10% range Q on Q due to it being a slow season for smart phone panels. However, with loading rate increase based on volume growth and diversification in smartphone models, we expect performance to be quite strong compared to a typical first quarter.

Speaker Change: Their season.

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Speaker Change:

Speaker Change: Good afternoon, I'm, telling you I'm the CFO. Thank you for joining our earnings call today.

Speaker Change: Some bumps young it puts you in the rural school will get tuned in and pure took and of course, you would come to you I'm going to use your green I'm going to check on the Roseland globally.

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Speaker Change: Against the macro headwind of delayed demand recovery and the downstream market. We are seeing signs of changing global trade environment, leading to ever heightened business Volatilities. We therefore continue to drive OLED centric business structure of upgrades in order to sustain the business performance uptrend.

Speaker Change: And I'm, focusing on rigorous cost innovation and operational efficiency activities to improve profitability of our business, which is the company's priority as we push ahead with stronger execution capacity.

Speaker Change: Okay.

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Speaker Change: As a result, despite uncertain market backdrop 2024 annual revenue was up 25% year on year and despite mid 100 billion one level of one off expense in Q3, and Q4, respectively last year, we drove meaningful outcome of reporting around two trillion one of profit improvement.

Speaker Change: On an annual basis.

Speaker Change: Yeah.

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Speaker Change: Excluding the impact of one off factors earnings result, since Q3 of last year have been very much stable and we expect such trend will continue into the first half of this year, which is typically an off season, allowing us to constrain the fluctuations and ensure a more steady trend without the dramatic changes.

That was seen in the past.

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Speaker Change: I'm going to get some of our owned real personal uncle uncle. So you can just flip book on him coming on from Korea.

Speaker Change: Yes.

Speaker Change: This year, we will endeavor to not only achieve a turnaround in annual results, but also meet market expectations underpinned by OLED panel shipment expansion across different product segments.

Speaker Change: Tom Wattles Hope you want to go to catch a little quick question I guess.

Speaker Change: Next I will run through the business plan and strategies.

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Speaker Change: Yeah.

Speaker Change: Sure Tom.

Speaker Change: With your card and Samsung to Doodle.

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Speaker Change: Chip from public some of them do you called the two Ohio. It you lose comes on secure C.

Lucas: Hi, Lucas.

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Speaker Change: OLED for mobile where secure competitive edge by preparing for future technologies required by the market and the customer and also we will drive utilization in the first half supported by shipment expansion and diversification of product offerings based on stronger production capabilities to grow top.

Speaker Change: Lying and to strengthen profitability.

Speaker Change: I P O.

Speaker Change: Globally could get coupon well IPO split do you do them better than peer group a thumb rule comes in Hangzhou mutual because it would appear a little sluggish.

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Speaker Change: So much as long as seen in probably I'm going to have to move she took kind of a weak year, how long view arose out of Q2.

Speaker Change: Sure Hey, Wilkes you cannot rely upon them in June two or could there be upside it honestly to release it goes through.

Speaker Change: Sure.

Speaker Change: So our medium I T segment underpinned by global customer base, and differentiated technologies, including I P. S back and nail L. E. D. We will respond effectively to the competitive landscape.

Speaker Change: Global I T market has been sluggish for an extended term we are carrying out various internal activities that can drive profitability, including innovating our cost base.

Speaker Change: As such we believe in the second half if we start to see signals for demand recovery in many of the opportunities. We can sufficiently have an upside compared to the target set at the start of the year.

And then chip.

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Speaker Change: I purely to cook or handed to me.

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Speaker Change: And I'm, a little minor children home's electrical familiar to.

Yeah.

This year, we will endeavor to not only achieve a turnaround in annual results, but also meet market expectations underpinned by OLED panel shipment expansion across different product segments.

Speaker Change: So and then they've just wondering like what's really isn't always smooth.

Speaker Change: Guangdong on its still ongoing and my true sometime in 201.

Speaker Change: So we'll look to keep you in tune to good to talk to route them to know.

Tom Wattles hope, you'll know catch all your questions.

Speaker Change: Yeah.

Speaker Change: Boy I T O led although the market situation does not favor the sale of high end products, we expect to see year over year growth in 2025, since they're clearly exists unique value offering of tandem OLED such as the lower power profile.

Next I will run through the business plans and strategies.

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Chuck Thompson: Chuck Thompson.

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Speaker Change: Also in step with might get changes, we are looking at various ways to scale up operational efficiency, such as maximizing the use of production infrastructure.

And I've been on the road somebody called me, Richard while it loosens unsecured.

Chuck Thompson: Call It a rocket ship.

Chuck Thompson: Oh, let for mobile where secure a competitive edge by preparing for future technologies required by the market and the customer also we will drive utilization in the first half supported by shipment expansion and diversification of product offerings based on stronger production capabilities to grow.

Speaker Change: Hello, and religious hub and for them to be doing chip.

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Topline and to strengthen profitability.

Chuck Thompson: Two young IP in yoga and more.

Chuck Thompson: Globally forgive him go IPO split do elitism tabular didn't Keytruda group, a thumb rule comes in Hangzhou mutual.

Speaker Change: So we still need to go on and she took some don't do you another kicking me though.

Speaker Change: In large OLED business through diversification of product lineup, including ultra large TV panels, and a more solid portfolio as well as expansion into differentiated and high end lineup such as gaming OLED monitors that better caters to consumer needs, we plan to drive shipment expansion.

Chuck Thompson: Cause you grow too.

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Speaker Change: Yeah.

Speaker Change: At the same time, we plan to sustain quality driven growth and bring profitability enhancements as well through efficient production strategy underpinned by the end user demand and cost savings and other operational innovations.

Chuck Thompson: So it goes through.

Smith.

Chuck Thompson: So our medium segment underpinned by global customer base, and differentiated technologies, including I P. S Black and nail L. E D. We would respond effectively to the competitive landscape.

Speaker Change: At all what was helpful. When you me, though.

Chuck Thompson: Global I T market has been sluggish for an extended term we are carrying out various internal activities that can drive profitability, including innovating our cost base.

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Speaker Change: Probably sooner some get taken local coverage from the local authorities.

Speaker Change: So do you move production has shown me in my mind is how I am done.

Chuck Thompson: As such we believe in the second half if we start to see signals for demand recovery in many of the opportunities. We can sufficiently have an upside compared to the target set at the start of the year.

And then on Zhengzhou, Google commuter and Cobra.

Speaker Change: Premium would talk if smokers for the out of them will get put to Peru.

Speaker Change: Sure.

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Chuck Thompson: I purely to when they can move quicker.

Speaker Change: Q I N T P S.

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Chuck Thompson: So as we look to tandem luminaire took home the vertical Milledgeville, Georgia you Shimbun.

Speaker Change: So when we took her mother Angela Aman.

Speaker Change: Woman Toronto.

Speaker Change: But if so what drove it true okay helpful. You keep an eye on Zhengzhou gross horrible.

Chuck Thompson: So and then there is something that goes through the summer.

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Speaker Change: I guess have you done.

Speaker Change: Next is auto business recently automobile market is starting to recover gradually but there are uncertainties lingering around E vs. As countries are scaling down on subsidies LG display has closed and stable relationship with our customer base and we have a portfolio of cost.

Chuck Thompson: When you look at <unk> to get to talk to route.

Chuck Thompson: Yeah.

Chuck Thompson: Boy I T O led although the market situation does not favor the sale of high end products, we expect to see year over year growth in 2025, since they're clearly exists unique value offering of tandem OLED such as the lower power profile.

Speaker Change: [noise] spanning from premium to the mass market and because we have portfolio of distinct product and technology offerings, which are tandem based plastic OLED a T O advanced OLED and high end N T. P. S. L E D.

So in step with market changes, we are looking at various ways to scale up operational efficiency, such as maximizing the use of production infrastructure.

Speaker Change: We will continue to endeavor to win orders and grow the top line from not only evs, but also internal combustion engine vehicles as we operate our business under a solid footing.

Chuck Thompson: Let this happen to be doing chip.

Chuck Thompson: Our political Yokohama could you, possibly tell you usually panel one came in late.

Chuck Thompson: Toyota Highlander, Japan lineup Octaroon, Tonya Chin from German hotels kicking me, though.

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Speaker Change: The mushroom Vegas.

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Chuck Thompson: And then three children things until you consider you're going to shoot for.

Speaker Change: We will conduct some one to put it in so long ago, two gentlemen, children consumers, who can toggle when you're gonna running joke with somebody else.

Chuck Thompson: So now to go on and it took some time do you another kicking me though.

Chuck Thompson: In large OLED business through diversification of product lineup, including ultra large TV panels, and a more solid portfolio as well as expansion into differentiated and high end lineup such as gaming OLED monitors that better cater to consumer needs, we plan to drive shipment expansion.

Speaker Change: Last point is on Capex since the uncertainties persist and with higher demand volatility, we wish to keep to a conservative stance when it comes to making investments.

Speaker Change: Hope to see you go to a move on just some of them come out on Zhengzhou see someone off one in Wuxi.

Chuck Thompson: <unk>.

Speaker Change: Thank you for.

At the same time, we plan to sustain quality driven growth and bring profitability enhancements as well through efficient production strategy underpinned by the end user demand and cost savings and other operational innovations.

Speaker Change: Where are you in in produce should do on the Holywell email shouldn't you have jumped in Xinjiang each been let's kick it off.

Speaker Change: And so our priority is to strengthen business fundamentals and financial soundness and secure stable profitability. So we will fully utilize the infrastructure that we currently own whilst maintaining prudence when it comes to Capex for new expansion.

Chuck Thompson: Tom what was helpful. When the meter.

Chuck Thompson: Second tranches of shadow touched them and Tom.

It will probably sooner so.

Chuck Thompson: <unk> taken local coverage can be choppy.

Speaker Change: Yeah.

Speaker Change: Shannon It gentlemen, usual eternal one chip in light of Smeal, what did you do on this.

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Chuck Thompson: Production from that mine this volume.

Chuck Thompson: And Jones Yogi will commit on quick on your premium would talk markets without whom will get put to Peru.

Speaker Change: Two bundle is hanmi, though a pluto how could you call daughter, who do I began to struggle through some Q&A Congo modem in Japan and Korea.

Chuck Thompson: Similar.

Chuck Thompson: Tandem is we will keep on it.

Speaker Change: So much of weird I'm, okay, even though it comes up.

Chuck Thompson: Particularly to Apu.

Chuck Thompson: The LTP Rcs.

Speaker Change: Last year Capex spend amounted to 2.2 trillion won and for this year, we estimate low to mid two trillion one of Capex.

Chuck Thompson: Tabular then chip is we put to pull your nuclear weak year approaching the top of mind.

Chuck Thompson: <unk> Oman sudden somebody so so job at true. Okay. Helpful. You keep an eye on Zhengzhou grows how well we're doing a little.

Speaker Change: Investments will be focused on what's needed for the business structure upgrade and spending will be from cash flow generated based on profitable operations as we plan on enhancing investment efficiency. Thank you.

Chuck Thompson: Some of them.

Chuck Thompson: Next is auto business recently automobile market is starting to recover gradually but there are uncertainties lingering around evs as countries are scaling down on subsidies.

Speaker Change: <unk>.

Speaker Change: Yeah, He's hungry to your tonnage trend on top of them get Youre shoots O'neill put them up against me at a time on Chile ended up she doesn't have had total I guess to me the operator, Curtana, Chilean Gaba Nip and tuck the limiter.

Chuck Thompson: Display has closed and stable relationship with our customer base and we have a portfolio of customers spanning from premium to the mass market and because we have portfolio of distinct product and technology offerings, which are tandem based plastic OLED Ato advanced OLED and.

Speaker Change: That brings us to the end of the earnings presentation for Q4 of 24, we will now take your questions. Operator, please commence with the Q&A session.

Speaker Change: She came to talk to you in the various Utica Cedar timber as you bring in talking about the NATO pure Ivan there do they should give out in Utah team when they choose Washingtonian type Hawaii bought near the regimen Demeter well that I've read you know, maybe I ought to human and haven't been done to gain at all protected them Nida.

Hi, and L. T P S L E D.

Chuck Thompson: We'll continue to endeavor to win orders and grow the top line from not only evs, but also internal combustion engine vehicles as we operate our business under a solid footing.

Speaker Change: Now Q&A session will begin.

Speaker Change: Press Star one that is start in one if you have any questions.

Speaker Change: Good show to the alternative I shouldn't Vegas.

Speaker Change: Questions will be taken according to the order you have pressed a number star one for cancellation. Please press star two that is sorry, and two on your phone.

There is a hunger in your proxy submission.

Speaker Change: We opened up one 2% as how long it took and consumers who can toggle when you're gonna have unintelligible joke with them either.

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: Last point is on Capex since the uncertainties persist and with higher demand volatility, we wish to keep to a conservative stance when it comes to making investments.

Speaker Change: Tom what are the same relationship going into KBR took when they can do one you mean, neither the first question will be provided by can do one from Kb Securities. Please go ahead with your question.

Speaker Change: Top because you got to move on Johnson lymphoma uncle in Zhangzhou see someone off one in Wuxi. Some sneak here 200 for uranium producer during the holiday oatmeal shouldn't you have shown to tenants and unique.

Speaker Change: Yes.

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Speaker Change: Give me though.

Speaker Change: And so our priority is to strengthen business fundamentals and financial soundness and secure stable profitability. So we will fully utilize the infrastructure that we currently own whilst maintaining prudent when it comes to capex for new expansion.

Speaker Change: Subsequent to the Gulf Coast.

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Speaker Change: Excellent.

Speaker Change: I'll go through some Q&A Congo.

Speaker Change: So you can go to community, where you've got some money they win a deal a year then because that's a good thing I'm So lucky data.

Speaker Change: Two dose dependent.

Speaker Change: So January was similar to where it comes.

Speaker Change: It comes out.

Speaker Change: Uh huh.

Speaker Change: Last year Capex spend amounted to 2.2 trillion won and for this year, we estimate low to mid two trillion one of Capex.

Speaker Change: Thank you for taking my question I would like to ask you two questions first one is with respect to your mid to small size P. OLED business with regards to your North America base as C. G customer I understand that there is heightened competition across different suppliers to gain.

Investments will be focused on what's needed for the business structure upgrade and spending will be from cash flow generated based on profitable operations as we plan on enhancing investment efficiency.

Speaker Change: Our share of wallet of that specific customer would like to understand as to what your strategies are in order to further improve on your profitability and for you to maintain your share of wallet and market share in the smartphone panel business against that specific customer.

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Speaker Change: Yeah, He's hungry to your tonnage trend on top of him gauge your shirts O'neill put them up against meter AMR and tedium deficit total I guess meter operate together known Chilean Gaba NAV limiter.

Speaker Change: That brings us to the end of the earnings presentation for Q4 of 24, we will now take your questions. Operator, please commence with the Q&A session.

Speaker Change: And related to that I also understand that and for that to company, there's going to be a the introduction of the most my math might get level entry level model that is going to be introduced into the market would like to understand whether that would help you mitigate the impact from seasonality and also what impact.

Speaker Change: Chicken little Chilean diversification meter timber as you've been talking about Tonight hope you're what you bought there do they should get out of Nida kimono cheese Washingtonian type two I E mail near the regimen to meter well that I'd read and then maybe I ought to human and haven't been done to gain at all protected them neither.

Speaker Change: Would that have on your bottom line second question is with respect to the exclusive supplier of Foldable panels to your strategic customer would like to understand what LG displays position and strategies are to cater to that need.

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

Speaker Change: Questions will be taken according to the order you have pressed a number star one for cancellation. Please press star two that is start and two on your phone.

Speaker Change: It doesn't go so we don't care because I'm done.

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: Well move to going homogeneous your mother, which Martin will give me put around them.

Toby: I'm doing I'm Toby I'll go to my phone.

Toby: I'd Love to tell you on another call. It August she's also been things on Sunday, So Nick as you call. It dual one country when I talk to yourself Hopkins, even though can you give me that.

Speaker Change: Tom cruise human nature as you put in the K between when they can do one you mean, neither the first question will be provided by can do one from Kb Securities. Please go ahead with your question.

Speaker Change: It is correct that against the backdrop of more heightened competition across different suppliers. We are very much focused on making preparations for a future proof technologies and also to gain or mass production competitiveness. So that we can further reinforce our company's competitive edge and at the.

Yeah.

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Speaker Change: The tone in terms of young purely to quite down that you're going to get it.

Speaker Change: Once the Permian Toyota, who Giggly smartphone panel can go back to something you were commenting and smutty menthol pankaj for cod.

Speaker Change: Same time, we have plans to further improve on continuous productivity as well as more strengthened at a high level of quality and also engage in innovation cost innovation activities, which will help with strengthening and reinforcing the business competitiveness of the company.

Speaker Change: Oh gosh.

Speaker Change: What are your LG display has long been purely the coupon athel, Tom you hope they will fix on get until you can come up with.

Speaker Change: Okay, Great Pooped home with their true cigar.

Speaker Change: You could have someone that all six focus on their own.

Speaker Change: The young younger drew koester opportunity, he can but that didn't get that.

Speaker Change: Muslims hauled 100 penalty what I'll, let you go towards some.

Speaker Change: One to 2 million, how long until you could get pulled up a young really dependent upon what pay down their <unk>. So you can go from here.

Speaker Change: Some would argue when she mentioned public schools.

Speaker Change: No we didnt talk about that.

Speaker Change: Yeah, well loved it all pick huddle, Oh, my God willing a talk titled to demand fundamentals.

Speaker Change: Some money they win the deal.

Speaker Change: Yeah, Dan cause that to get them to look at the.

Speaker Change: Uh huh.

Speaker Change: You didn't plan, what does something about it.

Speaker Change: Yeah, you should put it I'm going to let them down that could always.

Speaker Change: Thank you for taking my question I would like to ask you two questions first one is with respect to your mid to small size P. OLED business with regards to your North America base G customer I understand that there is heightened competition across different suppliers to gain.

Speaker Change: Now looking at the smartphone business and as of today, we continuously see growth in terms of the panel shipment and we are strengthening the product mix centering around the new models and also through diversification of the models, we are able to increase the volume, which helps us to minimize the gap.

Speaker Change: Our share of wallet of that specific customer would like to understand as to what your strategies are in order to further improve on your profitability and for you to maintain your share of wallet and market share in the smartphone panel business against that specific customer.

Speaker Change: Between the loading rate for our production lines between the first half in the second half of the year. As a result, we are looking forward to around a 20% are on a year over year basis growth in terms of shipment.

Speaker Change: And related to that I also understand that and for that company, there's going to be a the introduction of the most not mass market level entry level model that is going to be introduced into the market would like to understand whether that would help you mitigate the impact from seasonality and also what impact.

Speaker Change: So those all Mitsubishi one you should be done you should replace all you should find out there from some producers in the go to talk to a doctor there, we smell a pool dogwood and since unemployed or trade down I don't want to talk to them. It wouldn't have been a motor to resume mid triple New suite like something that's all that she was on jumbo seek somehow.

Speaker Change: Would that have on your bottom line second question is with respect to the exclusive supply of Foldable panels to your strategic customer would like to understand what LG displays position and strategies are to cater to that need.

Speaker Change: August.

Speaker Change: Yeah.

Speaker Change: In terms of the small panel business. The revenue mix has moved from 26% in 2021% to 33% in 2024. So you can see the continuously we've seen an uptrend and going forward, we would actively utilize the existing infrastructure in terms of the that is production and such.

Speaker Change: It doesn't go so we don't care because I'm done.

Speaker Change: Well move to going home gyms, your mother, which Mike will give you put around ambiguous.

Speaker Change: I'm sure that we have we will fully utilize them. So that we can push for a more expanded shipment and further facilitate diversification of models as well as improve our revenue mix and product mix focusing on the new models. So that we may ensure a topline growth and secure bottomline profitability.

Speaker Change: I'm thinking I'm doing them to be helpful to us all.

Speaker Change: It's about telling them they don't call it August.

Speaker Change: She's also been things on Sunday, So Nick as you call. It all one country when I talk to yourself.

Speaker Change: We do know that Okay give me though.

Speaker Change: It is correct that against the backdrop of more heightened competition across different suppliers. We are very much focused on making preparations for a future proof technologies and also to gain or mass production competitiveness. So that we can further reinforce our company's competitive edge and at the <unk>.

Speaker Change: T.

Speaker Change: Picked up it's not Doom toll brothers to promotions only doing tranches you jumped the oldest ones Yana cause you ongoing production is going to go to just sort of happened also in cooking up till now calls with them doesn't holiday things on them under global Google Amazon Comorbid with them.

Speaker Change: In time, we have plans to further improve on continuous productivity as well as more strengthened at a high level of quality and also engage in innovation cost innovation activities, which will help with strengthening and reinforcing the business competitiveness of the company.

Speaker Change: When you put it all smart pump that is all the talk about other film film she's having somewhat of a political.

Speaker Change: So you got to go talk you talked in August.

Speaker Change: Yeah.

Speaker Change: Within the market there is a certain level of demand for it.

Speaker Change: Oh different type of form factors. However.

Speaker Change: Multiples horribly underpenetrated vertical.

Speaker Change: However, we are working under a continuous backdrop of macro uncertainty and we expect there to be quite a bit of volatility when it comes to end user demand, but LG display has a firm foundation of offering and Foldable products on the notebook segment, which we are at this point mostly due.

Similar to when she mentioned public school.

Speaker Change: Well.

Speaker Change: We loved it all pick huddle, Oh, my God, what and you talked a little bit around the world lung.

Speaker Change: It is clear what does hold down going into not only the young you should please I'm going to let them down.

Speaker Change: Now looking at the smartphone business and as of today, we continuously see growth in terms of the panel shipment and we are strengthening the product mix centering around the new models and also through diversification of the models, we are able to increase the volume, which helps us to minimize the gap between.

Speaker Change: Seeing in supplying to a global customer based upon that knowhow in the smartphone business as well, we will be fully mindful of the acceptance level in the market with regards to such a unique and differentiated product and also be mindful of the pace at which the market is growing and in.

Speaker Change: Tween the loading rate for our production lines between the first half in the second half of the year. As a result, we are looking forward to around 20% on a year over year basis growth in terms of shipment.

In line with which we will come up with a basic structure in terms of supplying of those differentiated product and accordingly expand on the business opportunity.

Speaker Change: Tom Telemundo patrol I guess to me, though.

Speaker Change: So those all Mitsubishi one you should learn issue Chris along just fine on that some some pushes and go talk to a doctor there, we smell a poodle unemployed or trade down I don't want to talk to them is we don't have enough to model and Humana, but took a new suite of something that's all that was on the younger seek some help with you in August.

Speaker Change: We'll take the next question.

Speaker Change: What are what's even a discipline in U B S. Julian you made me neither.

Speaker Change: The following question will be presented by Union Zheng Yan from UBS. Please go ahead with your question.

Speaker Change: In terms of the small panel business or the revenue mix has moved from 26% in 2021% to 33% in 2024. So you can see the continuously we've seen an uptrend and going forward, we would actively utilize the existing infrastructure in terms of that.

Speaker Change: The Tinman Kid comes home and you're not an ideal lead the top car you mentioned, but I'm glad you said it gets from either a tablet or let us yoga tongue. Among TV could you put your name goes through Hagen Donegal in there you keep high I'm going to give it a tragic Dr. Toby you see born until Melano Calkins and the G summed up.

Speaker Change: Overall, when you're protected against them now.

Speaker Change: Yeah.

Speaker Change: Production infrastructure that we have we will fully utilize them. So that we can push for a more expanded shipment and further facilitate diversification of models as well as improve our revenue mix and product mix focusing on the new models. So that we may ensure a topline growth and secure bottomline.

Speaker Change: Thank you I just have a single question relating to L. I T. OLED business, we see that compared to what was originally projected the demand for your tablet or tablet OLED panels really underperformed the expectation compared to the actual shipment number that you've seen on a quarterly basis.

Speaker Change: <unk> profitability.

Speaker Change: In 2024, what is your outlook for 2025.

Speaker Change: When people talk about other promotional dependence on tissue and that you don't view this Wednesday, Donna Cosby ongoing learning process going to look to just so happened also in coconut Tanaka. Please don't do that.

Speaker Change: Global artists don't forget the shorter dollar type of children at all the literature.

Speaker Change: Groupon Mega time toolkit, well, she's donkey did you ship more tons on them.

Speaker Change: And then on the global Google Amazon come up with the local debenture.

Speaker Change: We're growing them Duncan going into.

Speaker Change: When you put it all smartphones, who knows all about LG Samsung She's also wonderful political dialogue Oops I Gotta catch you go talk to you in August.

Doug: So for me if I mess up you guys have any not totally locked in then you could get caught on top of it. It's all my name's Doug at them, they're usually more so none there'll be some time of course, there's always been done.

Speaker Change: Within the market there is a certain level of demand for it.

Speaker Change: You are correct because of the sluggishness in the global I T like it compared to what we had planned and expected the actual sales of tablet OLED was not up to a part so the current macro environment does not favor sales of high end product, but because we have a distinct.

Speaker Change: Oh different type of form factors.

Speaker Change: We are working under a continuous backdrop of macro uncertainty and we expect there to be quite a bit of volatility when it comes to end user demand, but LG display has a firm foundation of offering an affordable product on the notebook segment, which we are at this point Matt is producing.

Speaker Change: <unk> in terms of low power and tandem technology, which is best fit for I T devices. We expect that in 2025, we will be able to drive year over year growth.

Speaker Change: And supplying to a global customer based upon that knowhow in the smartphone business as well, we will be fully mindful of the acceptance level in the market with regards to such a unique and differentiated product and also be mindful of the pace at which the market is growing and in la.

Speaker Change: Will there be a kokomo.

Speaker Change: On marriage, among doing quick so I learned and chose one would've thought which isn't the only difference I can comment that I was going to hung up I don't know some go to I'm sure they'd be temporary or will it depend on two of those are challenging as long as well.

Bob: Some of them to pick up on Bob talked political.

Speaker Change: With which we will come up with a basic structure in terms of supplying of those differentiated product and accordingly expand on the business opportunity.

Bob: Now, having said that with regards to a specific target in terms of supply as well as market share. These are some detailed information that we would not be able to show with you because they are closely related to a customer. So I ask for your understanding now for you and for information basic.

Speaker Change: Tom to maneuver through I guess to me, though.

Speaker Change: We'll take the next question.

Speaker Change: Tom Row, two minute do chip, who didn't used to be just go in there you don't have any me neither.

Under this backdrop, where there is limited panel shipment for tablet OLED and the company is looking at various different ways that that will help us further increase and maximize on the operational efficiency of the fab.

Speaker Change: The following question will be presented by Eunjung Yun from USB Securities. Please go ahead with your question.

Speaker Change: The tinman I'm, telling you that that's an ideal lithography launching but I'm not sure that he gets to me though.

Speaker Change: That all led to silver tongue, among TV could get pushed and angles are logging Donegal, and then you tie up and give it a tragic Dr. Toby you seaborne into Melanotic Calvin's energy from the coach's overall, when you're protected against them, though.

Bob: The Crown Thompson a month after August for me. The next question. Please.

Jay Moyes: I'm, Jay Moyes, who gets how do you see that Tom would have accumulated peninsula in 2000 going at Diamond Green can you maybe neither the following question will be presented by them going again from Shinhan investment and Securities. Please go ahead with your question.

Speaker Change: Yeah.

Speaker Change: Thank you I just have a single question relating to your I T. OLED business, we see that compared to what was originally projected the demand for your tablet or tablet OLED panels really underperformed the expectation compared to the actual shipment number that you've seen on a quarterly basis for <unk>.

Speaker Change: Hi, Dan No idea unless you think hasn't gone up bringing money in Utah.

Jay Moyes: Okay.

Jay Moyes: Uh huh.

Jay Moyes: So what do you how long.

Jay Moyes: Look I don't want to hold them.

Speaker Change: 24, what is your outlook for 2025.

Jay Moyes: We can drill ships hanging burnt orange windows in six out of Utica with bonds or your target.

Speaker Change: Global artists Ampligen and shorten our.

Jay Moyes: Provision for nothing else from that.

Speaker Change: Children around the World leadership on Mega time toolkit, well she doesn't you did which is we're.

Yeah.

Jay Moyes: Thank you I am I'm going on so I mean, I shouldn't on securities I have one question relating to especially your large panel OLED business come second half of the year a lot of the depreciation depreciation will come to an end, we would like to understand as to what the company strategies are in terms of your bottom line if you want to.

Speaker Change: Colonial Duncan.

Speaker Change: <unk>.

Speaker Change: So put me up on metal prevents Harley not totally locked and I'm done you can get content, how about some of the names when do I get them there.

Speaker Change: And then there'll be some time of course, it always been done.

Speaker Change: You are correct because of the sluggishness in the global I T like it compared to what we had planned unexpected the actual sales of tablet alleged was not up to par. So the current macro environment does not favor sales of high end product, but because we have a distinct.

Jay Moyes: Compared 24 versus 25.

Jay Moyes: Yeah on the Ocean Guardian do you call it I'm not going to give me though.

Jay Moyes:

Jay Moyes: T V zones.

Jay Moyes: Yes.

Jay Moyes: You do need some production issues.

Speaker Change: She Asian in terms of low power and the tandem technology, which is best fit for I T devices. We expect that in 2025, we will be able to drive year over year growth.

Jay Moyes: It used to be done.

Jay Moyes: Yeah.

Jay Moyes: And.

Jay Moyes: So you'll be able to move some tons against how long is so cool.

Jay Moyes: Speak some concern or weakness in them.

Jay Moyes: It was again.

Speaker Change: Among whatever can go more peloton millions of mountain Quicksilver, London chose one would've thought which isn't the only difference that I can commit to the audience.

Jay Moyes: Pork was it or to go somewhere they want somebody that cortisol you just hung on a little Congdon open go ahead.

Jay Moyes: Jean when young who's Okay. So Nokia was so cool she went on the orbital.

Speaker Change: Some go to I'm sure they'd be temporarily to penetrate other towns.

Jay Moyes: I can't give you that.

Speaker Change: I mean, so long ago that we don't lose someone to pick up on Bob will talk political.

Hello, I am Kim Jang dog, Vice President of large display planning and management the TV market in general we expect the uncertainties to persist in 2025 as was the case in 2024 the company under such a constrain in terms of demur.

Speaker Change: Now, having said that with regards to a specific target in terms of supply as well as market share. These are some detailed information that we would not be able to share with you because they are closely related to our customers. So I ask for your understanding that for you and for information basically.

Jay Moyes: Recovery had focused its internal efforts on improving and enhancing the profitability in 2024, we had rigorous innovations are based off against the cost base and we've put in a lot of efforts to improve on the operational side and such effort will continue on in 2025.

Speaker Change: Under this backdrop, where there is limited panel shipment for tablet OLED and the company is looking at various different ways that that will help us further increase and maximize on the operational efficiency of the fab.

Jay Moyes: Deep.

Speaker Change: Yeah.

Speaker Change: What do you how long do you have with tenants, who contango guy and he was hunky, so when you're doing them for my questions.

Speaker Change: They're turned on similar paths to concern you.

Speaker Change: UBS is in control of that estimated in India.

Go towards her own calculus at all.

Speaker Change: So you'll be able to name calling them out and then there used to be some concern about it somebody else all your people and I'm doing a meter.

Speaker Change: Crystal approved until you go home cooking junior accordion physically.

Speaker Change: Yeah. So I just want to correct one thing the the the analyst that asked a question was from UBS.

Speaker Change: Oh, you don't won't go get a scenario, but told all hanging on to them.

Chuck Thompson: The Crown Thompson Mumbai through August me. The next question. Please.

Speaker Change: I wish him and he'll go to Colorado.

So you got to go to go take a young younger children Halloween and gaming wanted to them probably does it for me the Premier Hospital to me that's all.

Chuck Thompson: They enjoy any maybe something in maritime.

Speaker Change: Neither do I really meant UBS Susan.

Speaker Change: Okay.

Chuck Thompson: In Utah.

Jay Moyes, who gets how do you see the palm would've accumulative peninsula in 2000 going at Diamond Green can you me neither.

Speaker Change: So you mean, there's few corridor just talk to what it was on Concord cancer Hospital.

Speaker Change: Neither the following question will be presented by them going in from Shinhan investment and Securities. Please go ahead with your question.

Speaker Change: So.

Speaker Change: As you also correctly mentioned, yes in the second half of the year. The Kwangchow fab is going to see its depreciation come to an end, which obviously it works as a positive for us. So going forward are we we are going to continuously strengthen the cost competitiveness that we have.

Danielle: Hi, Danielle.

Speaker Change: It hasn't gone up a million Bucks.

Danielle: Our team is as it comes on.

Danielle: And then Oh my goodness.

Danielle: Uh huh.

Danielle: How long do you need it to be.

Speaker Change: I don't want to go.

Speaker Change: Based on which we will make sure that we.

Danielle: Although we didn't feel like we can deal with.

Speaker Change: Operate our fab in the most optimal way possible and also going forward, we will further strengthen our cooperation with our strategic customers and also.

Danielle: <unk> windows, and seatbelt with bonds or younger.

Danielle: Nothing has stopped.

Danielle: Yeah.

Speaker Change: Yeah. Thank you I am I'm going on so I mean, I shall not securities I have one question relating to especially your large panel OLED business come second half of the year a lot of the depreciation depreciation will come to an end, we would like to understand as to what the company strategies are in terms of your.

Speaker Change: Expand on the sales by focusing on our differentiated products such as the gaming monitors and at the same time continuing to work on our cost base, all of which will help us bring about a meaningful.

Speaker Change: A meaningful result in terms of the profitability.

Danielle: Bottom line, if you want to compare 24 versus 25.

Speaker Change: Yeah.

Speaker Change: The 200, a month through August to meet up.

Danielle: Yeah on the Ocean Guardian do you call it I'm not going to give me though.

Speaker Change: Any other questions.

Danielle:

Danielle: T V zones.

Speaker Change: Commodore Timna just ship them, then I am just gonna it's home runs on even when you do the following question will be presented by tongue runs off from I Am Securities. Please go ahead with your question.

Danielle: Yes.

Danielle: I need some production issues.

Danielle: Yeah.

Danielle: Toss on them.

Danielle: So you'll have to move and the rhythm tons against how long is so cool.

Speaker Change: Two questions I'll give you some in new Jersey, there's a long time ago.

Danielle: Speak some concern or weakness in them.

Speaker Change: Oh I don't have it.

It was only in Pune pockets there to go.

Speaker Change: Jim do you want to deal with chicken and a bunch of downtown L. A children can die because it's so true personality really D. J D plus adobe and she's already touched on it a little.

Danielle: Chris I'll, just hung on a little Congdon open.

Danielle: Jean when I'm.

Danielle: So Nokia also cool she went on order at all just because you're doing it.

Speaker Change: When do you see it how long do you at all.

Danielle: Neither.

Speaker Change: Hello, I am Kim Jang dog, Vice President of large display planning and management the TV market in general we expect the uncertainties to persist in 2025 as was the case in 2024, the company had them under such a constrain in terms of.

Speaker Change: Sounds good.

Speaker Change: She food you know chip when you are done with treatment.

Speaker Change: Once they do then well there so congrats on that would be very similar hinges on Monday.

Speaker Change: Two quick.

Speaker Change: So it doesn't cause the trend did you touch on that.

Speaker Change: So could you just.

Speaker Change: I'm talking about.

Speaker Change: Demand recovery at focus is internal effort on improving and enhancing the profitability. In 2024, we had rigorous innovations are based off against the cost base and we've put in a lot of efforts to improve on the operational side and such effort will continue on in 2025.

Thank you for taking my question I am <unk> from <unk> Securities I have two very simple question there is.

Speaker Change: There's a lot of changes and uncertainties in the downstream market. So the market kind of considered your conservatism conservative stance on investment as something being positive, especially with regards to the eighth generation I T. OLED business I'd like to understand as to what are some of your technologies and product segments that you were folk.

Speaker Change: Do you wonder how long D with tenants, who come and go.

Speaker Change: So when you then another one for me.

So on to drive future.

Speaker Change: Hum.

Hum.

Speaker Change: Future growth second question is you've mentioned depreciation would like to understand is to aside from last year and this year I would like to understand what the mid to longer term depreciation trend would look like.

Speaker Change: Chris or absolute until you go home cooking Korean physically.

Speaker Change: Oh, you don't won't go get a center bottom at all.

Speaker Change: So, yes, Colgate, which I'm going to go to Colorado, where you're going.

Speaker Change: So you could go to you go young Allergan, Tucuman, Halloween and gaming monitor them private.

Speaker Change: Yeah sure pool.

Speaker Change: Though.

The other one do cool.

Speaker Change: Does it for me.

Speaker Change: So.

Speaker Change: If you wanted to buy some too.

Speaker Change: We will go get some gum care.

Speaker Change: Okay.

Speaker Change: At Oh, you mean, there's few corridor just talk to what it was on Concord cancer Hospital.

Speaker Change: The new products, you Sonya who'll proven Duncan do consulting.

Speaker Change: Uh huh.

Speaker Change: Oh.

Speaker Change: Two puzzling news how long it.

So.

Speaker Change: You're going to look to wish them, though.

Speaker Change: As you also correctly mentioned, yes in the second half of the year. The Kwangchow fab is going to see its depreciation come to an end, which obviously it works as a positive for us so going forward, we are going to continuously strengthen the cost competitiveness that we have.

Oh <unk>.

Speaker Change: I shouldn't you shouldn't lose you can give me a hand I'm wondering.

Speaker Change: Or should we push it too literally push more on their own.

Speaker Change: Yes, we can do.

Speaker Change: Toyota So about 200 or some of them come in logical soap tissue kissel novel.

Speaker Change: Based on which we will make sure that we.

Speaker Change: Operate our fab in the most optimal way possible and also going forward, we will further strengthen our cooperation with our strategic customers.

Speaker Change: Tim conjunction Colorado cause only on them, you'll get to see some hopefully.

Speaker Change: Choose one question of winning with them.

Speaker Change: Liam I shouldn't do Sasha.

Speaker Change: Also.

Speaker Change: Okay. When you got to tell you. This is a good post took into playing out.

Speaker Change: Expand on the sales by focusing on our differentiated products such as the gaming monitors and at the same time continuing to work on our cost base, all of which will help us bring about a meaningful.

Speaker Change: <unk>.

Hooper: 100, Hooper said I truly do you want them.

Speaker Change: Oh, she's on your food Proficiently Goodnight thorough training and on how we smooth.

Speaker Change: A meaningful result in terms of the profitability.

Kenan: Oh cool toys, and then what do you see Kenan.

Speaker Change: Yeah.

Hooper: Uh huh.

Speaker Change: The 200, a month after the August meet up.

Hooper: Auction, it kubota and she's doing it she can only be doing something.

Speaker Change: Any other questions.

Hooper: Oh clear cautious still need help with hindered Oklahoma and in Australia.

Australia convenient.

Speaker Change: Commodore Timna discipline, and I am just going at someone's home so.

Hooper: Sure.

Hooper: Daily Cool she can do.

Hooper: Some of them even quicker.

Speaker Change: The following question will be presented by tongue runs off from I Am Securities. Please go ahead with your question.

Hooper: Great attitude.

Hooper: Yeah.

Hooper: This is the CFO responding to your question.

Speaker Change: Two controlling forgive me talk for a minute I'm talking.

Hooper: Our basic take of the macro environment is that there is still persists external uncertainties and there's high level of demand volatility, which has been ongoing for a prolonged period and as you've and I take your question to talk about a possible new investment, especially since you've mentioned the eight.

Speaker Change: Oh.

And when do you want to do a chicken or some bumps you don't turn out our children are boxing day, but it's also your personality ability to do it puts adobe in Q2. It was shown it doesn't come to me a little help with.

Speaker Change: We certainly don't want to use it how much I'm, telling me a call or two.

Hooper: Generation I T. OLED. So under this backdrop, we've repeatedly communicated that the top priority for our company for the time being is to focus on improving the business fundamentals as well as enhancing the financials of the company and also securing a stable our bottom line profitability. It is under.

Speaker Change: Okay.

Speaker Change: So look at it on an <unk> or tumor treatments you can go mobile wants you to know what are your congrats on would be very similar how's it going today.

Speaker Change: Two quick.

Speaker Change: Okay.

Speaker Change: It is a trend or some stupid I guess I'm trying to go.

Speaker Change: Thank you for taking my question I am tones out from I N Securities I have two very simple question there.

Hooper: That stance that we had kept to a quite conservative capex or investment approach now when it comes to the eight generation I T who led our belief is our take of the market is that still a very high level of uncertainties LG display what well once we are able to identify.

Speaker Change: There's a lot of changes and uncertainties in the downstream light goods. So the market kind of considers your conservatism conservative stance on investment as something being positive, especially with regards to the eighth generation I T. OLED business I would like to understand as to what are some of your technologies and product segments that you would focus.

Hooper: If I clear market signal of an improvement on that backdrop and once we are able and once we gain a conviction that that is where the market is going and once you have that visibility. We are fully prepared in terms of the resources and the timing to be able to cater to and respond to that change.

Speaker Change: So on to drive future.

Speaker Change: Future growth second question is you've mentioned depreciation would like to understand is to aside from last year and this year I would like to understand what the mid to longer term depreciation trend would look like.

Hooper: It could come close on the B.

Hooper: It is much too.

Speaker Change: Yeah cause ship, who comes in and even though.

Hooper: You shouldn't do it.

Hooper: Can you kind of envision the rule.

Speaker Change: Oh, yeah, the wandoo crude.

Speaker Change: If you wanted to buy some too.

Hooper: Congress on opinion would you target for your Tox studies on GUL Oswego.

Speaker Change: And when you are doing.

Speaker Change: New production is swinging from cool proven Duncan do young.

Hooper: You should have quill.

Hooper: Well, then I'm going to do.

Speaker Change: Oh.

Speaker Change: The positive news how long it.

Hooper: G&A on Monday.

Speaker Change: You're going to look to wish Linda.

Hooper: Scott when you won't go purely to.

Speaker Change: Oh <unk>.

Speaker Change: Some distinguishing Guggenheim I'm wondering.

Yeah.

Hooper: Have you put it kind of goes on Mcgee 21.

Speaker Change: True and the precedent I too little information would one zero in the.

Speaker Change: Sundar could you update us on I just wanted to if you shouldn't do well how long you're in.

Speaker Change: The school year, we can do.

Speaker Change: Who can jewelry and then the only distributor Luka Luka.

Speaker Change: So you guys have achieved numerous women tamminga to go talk to the root cause one of them.

Speaker Change: Some movies from move out to me that could get us who doesn't look good too.

Speaker Change: To conduct some Colorado.

Speaker Change:

Speaker Change: And I'm, just going to see some upward.

Speaker Change: Yeah It comes harder.

Speaker Change: So I'm trying to Nashville.

Speaker Change: Oh.

Speaker Change: Chosen culture of winning with them who need national disaster.

Speaker Change: So do you want to reach political do you somehow.

Speaker Change: Accretive when you cough today. This is a good push took and you're playing it out.

Speaker Change: Regarding depreciation if you look back to 2024, we've kept that figure at around 5.15 0.2 trillion won this and if you look at this year well actually end of last year. Some of the fab line for smartphone P. OLED had ended in terms of its depreciation.

Speaker Change: <unk>.

Undergo pressured I truly do you want them.

Speaker Change: Oh, she's unused proficiently goodnight.

Speaker Change: So and then from then on how can we smooth.

Speaker Change: Oh crew, who told you heard Hernan would you agree kenan.

Speaker Change: Oh.

Speaker Change: Period and in the second half of this year for large OLED fab in Guangzhou. There would also be some depreciation that will come to a termination there as well so as such we're looking for tours to around $4. Three trillion. One so I declined to 4.3 trillion want that is and depreciation.

Hudson It.

Speaker Change: Kubota and she's doing it she can only be doing something.

Speaker Change: On credit cards, you still need help with another Oklahoma cerebral oxygen convenient.

Speaker Change: Two and two equal chicken to single.

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Speaker Change: Smith.

Speaker Change: Yeah.

Speaker Change: This is the CFO responding to your question.

Speaker Change: Yeah, I'm Gonna Telemundo, there's talk about about the Rockwell gets to me that yes, we will take the final question.

Speaker Change: Our basic take of the macro environment is that they're still persist external uncertainties and there's high level of demand and volatility which has been ongoing for a prolonged period.

Speaker Change: That's another two minutes to ship and then Kim Jin Guan Atkins one you mean, neither the last question will be presented by <unk> one from <unk> Securities. Please.

Speaker Change: And as you've and I and I take your question to talk about a possible new investments, especially since you've mentioned the eight generation I T. O led so under this backdrop, we've repeatedly communicated that the top priority for our company for the time being is to focus on improving the business fundamentals.

Speaker Change: Please go ahead with your question.

Speaker Change: And yes, you're accusing parkinsonian gotcha gotcha, sometimes on Utah.

Speaker Change: Well talk to my lunch, England did you have one deal of such a fun new guests all golf Digest stung upon all chicken and southern style nuts. When he touched on some damage I wanted to know can you give me that he knows how long island at all Tony talked Pablo knows how long touchtone somewhat skewed toward is pretty sound tomorrow.

Speaker Change: As well as enhancing the financials of the company and also securing a stable bottom line profitability. It is under that stance that we had kept to a quite conservative capex or investment approach now when it comes to the eight generation I T who led our belief is our.

Speaker Change: To talk about it.

Speaker Change: It's about all so there's plenty to talk between jungle pillar you know as I said I'll give you guys I'll turn it off to when you have to talk to you soon.

Speaker Change: Pardon me.

Speaker Change: Okay.

Speaker Change: Thank you for taking my question on Kingstone from Kim Securities. My question relates to your auto business as the CFS CFO has mentioned during the presentation the auto market as well as the E. V segment, who has experienced quite a bit of a slump would like to understand what LG displays assessment is all.

Speaker Change: Take off the market is that still there is high level of uncertainties LG display what well once we are able to identify clear market signal of an improvement on that backdrop and once we are able and once we gain a conviction that that is where the market is going and once we have that visibility we are fully prepare.

Speaker Change: The overall auto market also particularly regarding the auto display market and what your projections are in terms of the market going forward and what your objectives and strategies are for this business.

Speaker Change: Third in terms of the resources and the timing to be able to cater to and respond to that change.

Speaker Change: It will come on the B.

Speaker Change: So we will remove shouldn't do it.

Speaker Change: The auto about getting something.

Speaker Change: Can you kind of envision the rule.

Speaker Change: Thank you and Oh bonds also gonna toss them, Robert Gibson tour, So I'm good.

Concurring opinion would you target for each oxides on dual Oswego.

Speaker Change: Talk to team with them.

Speaker Change: Well I mean, as you well know the offshore to harden.

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Speaker Change: Have you played it can cause I'm Mcgee two sundar you Oh.

Hello, I am so one key one nine V P of auto marketing.

So I just wanted to touch on the deal.

Speaker Change: In terms of the auto market, there I suppose negatives and some positives negatives being a global economic slump as well a sluggishness that we see in the EV market, but there are also positive which are interest rate cuts and more stronger C. O two emissions.

Speaker Change: How long you're in.

Speaker Change: Who can join in.

Speaker Change: I believe Luca.

Speaker Change: Who controls on movies to move out to me, though.

Speaker Change: It got us who doesn't look good too.

Speaker Change:

Speaker Change: You can charge offs from China wants to Nashville.

Speaker Change: The regulation that's been Oh that was adopted in <unk> that is adopted in Europe for 2025, So the mix of factors co exist and in 2020 five we think that the auto market in general would be about flat on a year over year basis at around 90 million class.

Speaker Change: So two quick ones.

Speaker Change: Sort of curious on how we spend.

Speaker Change: Yes.

Speaker Change: Regarding depreciation if you look back to 2024, we've kept that figure at around 5.15 0.2 trillion won this and if you look at this year well actually end of last year. Some of the fab line for smartphone P. OLED had ended in terms of its depreciation period.

Speaker Change: Yeah.

Speaker Change: What was it flew sung UN plug them into the display.

Speaker Change: Uh huh.

Speaker Change: I'm talking about a more normal inflammation and al Campbell soup kitchen.

Speaker Change: And in the second half of this year for large OLED fab in Guangzhou. There would also be some depreciation that will come to a termination there as well so as such we're looking for tourists to around $4. Three trillion. One so I declined to $4 three trillion won that is and depreciation.

Speaker Change: Oh, she's often sundar.

Speaker Change: Uh huh.

Speaker Change: You alluded to in government or what are your New York Ditto towards from Miami, All we're letting them why do you anticipate your tongue.

Speaker Change: And then why are you why you should.

Speaker Change: When do you find that homes are neutral multimeter.

Speaker Change: Yeah.

Speaker Change: Yeah, I'm going to actually monitor talked about about the rock I guess to me that yes, we will take the final question.

Speaker Change: On the other hand, if you look at the auto display market. It continuously is showing eight grows it is providing not just a driving mileage related information, but the display works to provide information entertainment and plays a key function in terms of safety as well as such we are seeing.

Massimo Moratti: Massimo Moratti military shipment in Q I'm, just going to accuse one you mean, neither the last question will be presented by teams who won from <unk> Securities. Please go ahead with your question.

Speaker Change: Adoption rate pardon me he vehicle increase and we think that number well surpassed 200 million units of course as a result of OLED is expected to grow by more than 70% year over year, well L. T. P. S. LCD growing on a Y O y basis more than 20% growth.

Speaker Change: And yes, you're accusing belongings on your dad's human cancers, all comes out in Utah.

Speaker Change: I know it goes off to lunch and then did you have one deal of such a fund me because the longer they're just hung upon all chicken in southern Utah Shying US you touched on some damage hunted in Canadian leader, who knows how long. This I'll tell you got a problem that's how long question somewhat.

Speaker Change: Okay.

Speaker Change: So and then turned on Melinda coupon aimed purely due a to a <unk>.

Speaker Change: To display starting tomorrow, they will have to talk so much about.

Speaker Change: So there's plenty to talk between jungle pillar genotype soggy I told her doctor Dr. Linda.

Speaker Change: This initiative, we're excited actually to me Pat answer principal Blue all means.

Speaker Change: Wood pulp Premier ones I'm, Tom took a G Batesville Coca Cola Samsung Galaxy phone its water due to known unknowns are going to displace habu, we know how it will be similar.

Speaker Change: Right.

Speaker Change: Yeah.

Kim Zone: Thank you for taking my question on Kim Zone from home Securities. My question relates to your auto business actually CFS CFO has mentioned during the presentation the auto market as well as the E. V segment, who has experienced quite a bit of a slump, we'd like to understand what LG displays assessment is all.

Speaker Change: Similar.

Speaker Change: It's just to note that 200 and above 200 million as sales in the number of auto display units now so based upon the tandem OLED technology, we have a variety of product portfolio offerings, including a tandem I'll, let based P. O led a T O L. P. P. S. L C D and oxide L. C D. So.

Kim Zone: The overall auto market also particularly regarding the auto display market and what your projections are in terms of the market going forward and what your objectives and strategies are for this business.

Speaker Change: We are able to cover the mainstream as well as the premium OEM customers. We have the basis of a customer base of major companies and also we operate a auto display business that is well balanced between growth and profitability.

Kim Zone: The auto about getting from from Greg isn't doing that.

Kim Zone: When those who come to us.

Speaker Change: Robert Gibson tour, some guitar put into the mix and we don't look in new England can mean army as you well know the offshore tubular through preserve hardening.

Speaker Change: The key BV local and global Tom could talk too crazy going on pulling her wants it.

Kim Zone: Those are unique to Nokia as Sundar.

Kim Zone: You said 100 items from their own values onto tremendous funeral rule challenges with some of the.

Speaker Change: They put them in all components of it.

Speaker Change: I think someone comes in.

Kim Zone: Hello, I am turnkey, one nine V P of auto marketing.

Speaker Change: Yeah.

Speaker Change: Well it is good.

Kim Zone: In terms of the auto market there are both negatives and some positives negatives being a global economic slump as well a sluggishness that we see in the EV market, but there are also positives, which are interest rate cuts and more stronger C O two emissions.

Speaker Change: We have put all homes on a top of mind with them.

Speaker Change: Okay.

Speaker Change: And our key competitiveness is the strong and close relationship that we have with our customer base, who include the European premium companies as well as Korea, and Japanese incumbent auto powerhouses as well as a global EV maker based in the U S based upon that.

Kim Zone: The regulation that's been Oh that was adopted in <unk> that is adopted in Europe for 2025. So the mix of factors co exist and in 2025, we think that the auto market in general would be about flat on a year over year basis at around 90 million class.

Speaker Change: I V. The OEM customers, we are looking to a growth rate of about 100%.

Speaker Change: Yeah.

Speaker Change: So it was aren't gives a little dog Trevor Thank you for.

Kim Zone: Botox is placed on them.

Speaker Change: Pat answer.

Kim Zone: Todd Dave play over time.

Speaker Change: Hum.

Speaker Change: Components will conclude couponing, but truth, you're just selling to them.

Kim Zone: So I'm talking about one of the more information and Oklahoma separatists minor crossing removal, which is awesome.

Speaker Change: Sure.

Speaker Change: Suddenly the dose.

Speaker Change: Okay.

Speaker Change: I guess from there.

Kim Zone: Uh huh.

Speaker Change: Supported by such differentiated technology offerings mid to longer term and variety of product portfolios and cost savings and very solid customer base, we will make sure that we maintain a market share number one position that is based off of the revenue and well continue to have.

Speaker Change: You alluded some governments, though what are New York Ditto towards from Miami, All OLED name why are you anticipating from.

Speaker Change: Steven why you went to evaluate homes on interim multimeter.

Speaker Change: On the other hand, if you look at the auto display market. It continuously is showing a growth. It is providing not just a driving mileage related information, but the display works to provide information entertainment and plays a key function in terms of safety as well.

Speaker Change: To strengthen our market leadership going forward.

Speaker Change: The total is did you play your Chinese Penguins, how long do you should talk about very much through I guess to me that sounds like it hasn't been they'll kick I'm proud that even though she goes any monies fishing been doing IR team at all or not we should give out I'm going to come from either.

Speaker Change: We are seeing the adoption rate per vehicle increase and we think that number will surpassed 200 million units of course as a result, OLED is expected to grow by more than 70% year over year, while L. T. P. S. L. C D growing on a Y O y basis more than 20%.

Speaker Change: This brings us to the end of the fourth quarter 'twenty 'twenty four earnings conference call of LG display. Thank you all for joining US. This afternoon and if you have any unanswered questions. Please feel free to contact us at the IR team. Thank you very much.

Speaker Change: Yes.

Speaker Change: Okay.

Speaker Change: So and then in tandem with little coupon a purely do a pure <unk> oxides and ship it to me Pat answer Poopaloo mainstream with stimulants and talked to car T based on Google.

John Garcia: I'm John Garcia from its water due to known unknowns are going onto this blue Harbor.

Speaker Change: Similar.

Speaker Change: It's just to note that 200 and above 200 million as sales in the number of auto display units.

So based upon the tandem OLED technology, we have a variety of product portfolio offerings, including a tandem holidays peer led a T O L. P. P S LCD and oxide L. C. D. So we are able to cover the mainstream as well as the premium OEM customers.

Speaker Change: Have the basis of a good base of major companies and also we operate our auto display business that is well balanced between growth and profitability.

Speaker Change: The key vivo with Grupo Globo.

Speaker Change: Tom could talk to kind of.

Speaker Change: I want to.

Speaker Change: Put them out towards the components of the continent I think someone comes in.

Speaker Change: Yeah.

Speaker Change: I, probably would've wehrly with whom we could get a good scenario.

Speaker Change: If you have put.

Speaker Change: Put all of them.

Speaker Change: Okay.

Speaker Change: And our key competitiveness is the strong and close relationship that we have with our customer base, who include the European premium companies as well as Korea, and Japanese incumbent auto powerhouses as all as a global EV maker based in the U S based upon that view.

Speaker Change: The V. The OEM customers, we are looking to a growth rate of about 100%.

Speaker Change: So we think this will do thank you for an entrepreneur to Peru.

Speaker Change: Sometimes we'll do Q&A, but tribute to listen to them.

Speaker Change: She really jail suddenly those people all.

Speaker Change: Okay.

Speaker Change: Okay.

Speaker Change: Supported by such differentiated technology offerings mid to longer term and variety of product portfolios and cost savings and very solid customer base, we will make sure that we maintain a market share number one position that is based off of the revenue and we'll continue to.

Speaker Change: To strengthen our market leadership going forward.

Speaker Change: There you go do it.

Speaker Change: Did you play your Chinese panels, how long he should talk very much through I guess some.

Speaker Change: Okay December Nokia comparatively meal sugars anyone you're fishing been driven Iot modal I'd love to just get out of me I'm sorry meter.

Speaker Change: This brings us to the end of the fourth quarter 2024 earnings conference call of LG display. Thank you all for joining US. This afternoon and if you have any unanswered questions. Please feel free to contact us at the IR team. Thank you very much.

Speaker Change: [music].