Q1 2025 LG Display Co Ltd Earnings Call

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Good afternoon, I'm, Brian Hall in charge of IR team at LG display on behalf of the company. Thank you all for joining US today in our first quarter 2025 earnings call.

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Speaker Change: This call will be conducted in both Korean and English and for more details. Please refer to the provision of earnings that was just disclosed or 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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Good afternoon, I'm, Brian Hall in charge of IR team at LG display on behalf of the company. Thank you all for joining US today in our first quarter 2025 earnings call.

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

Speaker Change: Today Im joined by our CFO, Keith <unk> Tung Heng Tucson young who's the VP of business management, keeping you don't VP in charge of finance <unk> in charge of business intelligence, Kim Jong dock VP of large display planning and management and <unk> in charge of medium display planning and management pick soon young in charge of small display.

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Speaker Change: Let me start by running through the business results for Q1 of 2025, despite the usual seasonality seen during the first quarter across different product segments, driven by OLED centric business structural upgrade coupled with one dollar FX impact, adding to the positive revenue reported a solid.

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Speaker Change: This call will be conducted in both Korean and English and for more details. Please refer to the provision of earnings that was just disclosed or the IR events section on the Companys website.

Speaker Change: Six trillion $65 3 billion won which is an increase of 15% on an year over year basis.

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

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

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Speaker Change: Coupled with increase in revenue share of our OLED products following business structural upgrades and stringent cost savings and operational efficiency activities continuing despite it being a slow season and unlike typical trend seen in the past operating profit reported $33 5 billion won.

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Speaker Change: Sustaining the profit making streak since last quarter.

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Speaker Change: This is an improvement of $509 2 billion, one on a year over year basis, and one Chilean $131 8 billion versus Q1 of 2023, which is quite noteworthy and that we were able to generate profit in the first quarter for the first time in eight years, except for this special period during the Covid pandemic.

Speaker Change: Let me start by running through the business results for Q1 of 2025, despite the usual seasonality seen during the first quarter across different product segments, driven by OLED centric business structural upgrade coupled with one dollar FX impact, adding to the positive revenue reported a solid.

Speaker Change: Six trillion $65 3 billion won which is an increase of 15% on an year over year basis.

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Speaker Change: Q1, EBITDA was one Chilean $231 3 billion won with EBITA margin rate at 20%, which is at its highest since Q3 of 2021.

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Speaker Change: Coupled with increase in revenue share of our OLED products following business structure upgrades and stringent cost savings and operational efficiency activities continuing despite it being a slow season and unlike typical trend seen in the past operating profit reported $33 5 billion.

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

Speaker Change: Area shipment in Q1 was down 19% Q on Q on the back of a seasonality impact on niche to larger panels, well on a year over year basis, driven by panel shipment expansion for OLED TV and notebooks, there was 1% increase.

Speaker Change: Sustaining the profit making streak since last quarter.

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Speaker Change: This is an improvement of $509 2 billion, one on a year over year basis, and one Chilean $131 8 billion versus Q1 of 2023, which is quite noteworthy and that we were able to generate profit in the first quarter for the first time in eight years, except for this special period during the Covid pandemic.

Speaker Change: ASP per square meter recorded $840, which is down by 8% Q on Q.

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Speaker Change: Considering how price 10 prices tend to fluctuate during the first quarter. The decline was very much mitigated thanks to robust OLED performance.

This is the Fossil Team Leader of the Display IR Team. Thank you to everyone who attended the 2025 Q1 earnings conference call. Today's conference call is attended by Vice President and CFO Kim Sung-hyun, Senior Managing Director of Management Control Cho Seung-yeon, Senior Managing Director of Finance Kim Kyu-dong, Business Intelligence Officer Lee Ki-young, Senior Managing Director of Large Planning Management Kim Jong-deok, Medium Planning Management Officer Ahn Yoo-shin, Small Planning Management Officer Baek Seung-yong, and Senior Managing Director of Auto Marketing Product Planning Song Ki-hwan.

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Speaker Change: Q1, EBITDA was one Chilean $231 3 billion won with EBITDA margin rate at 20%, which is at its highest since Q3 of 2021.

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Speaker Change: Moving onto product revenue mix and subdued seasonality mobile and others revenue did eight percentage points Q on Q, reaching 34% while revenue share of other product segment expanded on a relative basis.

Good afternoon, I'm Brian Hall, in charge of IR team at LG Display. On behalf of the company, thank you all for joining us today in our first quarter, 2025 earnings call.

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

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Speaker Change: <unk> shipment in Q1 was down 19% Q on Q on the back of a seasonality impact on mid to larger panels, while on a year over year basis, driven by panel shipment expansion for OLED TV and notebooks, there was 1% increase.

Speaker Change: Today, I'm joined by our CEO Kim Sung Hyun, who's the VP of Business Management, Kim Gyu Dong, VP in Charge of Finance, Lee Gi-young, in Charge of Business Intelligence, Kim Jong-Dok, VP of Large Display Planning and Management, A New Shin, in Charge of Medium Display Planning and Management, Pexung Yong, in Charge of More Display Planning and Management, and

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I T segment revenue share was up seven percentage points Q on Q recording <unk> 35 per cent underpinned by increase in shipment of OLED panels for I T.

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Speaker Change: Today's conference call will be conducted in a question-and-answer integrated format. For detailed materials related to performance, please refer to the announced preliminary results or the investor information section on our company's website.

Speaker Change: T V segment revenue was flat Q on Q at 22%, while auto segment revenue mix increased one percentage points Q on Q accounting for 9%.

Speaker Change: ASP per square meter recorded $840, which is down by 8% Q on Q.

Speaker Change: This call will be conducted in both Korean and English, and for more details, please refer to the provisional earnings that was just disclosed or the IR events section on the company's website.

Speaker Change: During how price 10 prices tend to fluctuate during the first quarter. The decline was very much mitigated thanks to robust OLED performance.

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Speaker Change: Please read the disclaimer before the earnings announcement.

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

Speaker Change: Oh, let mix out of total revenue increased eight percentage points year on year, reaching 55% as we continue to see expanded outcome from the company's transformation of OLED centric business portfolio.

Speaker Change: Today's earnings announcement is prepared based on consolidated financial figures in accordance with the International Financial Reporting Standards (IFRS) and is provided for the convenience of investors before the completion of the external auditor's review.

Speaker Change: Moving onto product revenue mix.

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And subdued seasonality mobile and others revenue dipped <unk> eight percentage points Q on Q, reaching 34% while revenue share of other product segment expanded on a relative basis.

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Speaker Change: As a reminder, please note that today's results are based on consolidated IFR standards prepared for your benefit and have yet to receive an audit by an outside audit.

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Speaker Change: I will present the business performance for the first quarter of 2025.

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Speaker Change: Despite the seasonal impact on product categories in the first quarter, the results of business structure enhancement centered on OLED, along with the positive effect of the won-dollar exchange rate, led to a solid performance with sales of 6.653 trillion won.

Speaker Change: Next is financial position and key metrics cash and cash equivalent as stated in Q1 financial statement is $982 3 billion one, but if we want to include that cash held by China's Guangzhou ACD plant, which has been classified under assets held for sale in terms of actual cash.

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Speaker Change: <unk> segment revenue share was up seven percentage points Q on Q recording 35% underpinned by increase in shipment of OLED panels for I T.

Speaker Change: This is a figure that has increased by 15% compared to the same period last year.

Speaker Change: And cash equivalent that the company owns it will amount to 222 trillion $372 8 billion won.

Speaker Change: TV segment revenue was flat Q on Q at 22%, while auto segment revenue mix increased one percentage points Q on Q accounting for 9%.

Speaker Change: Let me start by running through the business results for Q1 of 2025. Despite the usual seasonality seen during the first quarter across different product segments, driven by OLED centric business structural upgrade, coupled with $1 effects impact adding to the positives, revenue reported a solid $6.65.3 billion one which is an increase of 15% and an year-over-year base.

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Speaker Change: OLED mix out of total revenue increased eight percentage points year on year, reaching 55% as we continue to see expanded outcome from the company's transformation of OLED centric business portfolio.

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Speaker Change: In the case of Younghap Sonic, despite the seasonal off-peak period, they recorded a profit of 33.5 billion won for the second consecutive quarter, unlike the usual trend in the past, by expanding the sales proportion of OLED products due to the advancement of their business structure and continuing strong cost reduction and operational efficiency activities.

Speaker Change: Next is Q2 guidance generally we see area shipment to uptrend during the second quarter, but following discontinuation of L. C. D. TV business, we expect second quarter area shipment to decline by around mid 20% and Conversely, a ASP per square meter is expected.

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Speaker Change: This is 509.2 billion won compared to the same period last year.

Speaker Change: Compared to the first quarter of 2013, this is an improvement of 1.1318 trillion won, and it can be considered a significant achievement as it marks the first first-quarter profit in eight years, excluding the special period of COVID-19.

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Speaker Change: To rise by around 20% level.

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Speaker Change: Coupled with increase in revenue share of our OLED products, following business structure upgrades, and stringent cost savings, and operational efficiency activities continuing. Despite it being a slow season and unlike typical trends seen in the past, operating profit reported 33.5 billion won, sustaining the profit-making streak since last quarter.

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Speaker Change: Next is financial position and key metrics cash and cash equivalent as stated in Q1 financial statement is $982 3 billion one but if we were to include that cash held by China's Guangzhou ACD plant, which has been classified under assets held for sale in terms of actual cash.

Speaker Change: Afternoon, I'm from telling him the CFO. Thank you all for joining our earnings call today.

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Speaker Change: We compared the growth rates of 509.2 billion won and 1,131.8 billion won. In Q1 of 2023, it was the first time in eight years that we were able to make a profit, and there were no special periods during the COVID-19 pandemic.

Speaker Change: And cash equivalent that the company owns it will amount to two two trillion $372 8 billion won.

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Speaker Change: With OLED between Schmidt Ceausescu Bukar will come to know Quinolone collection is going to get there.

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Speaker Change: The EBITDA for the first quarter is 231.3 billion won, and the EBITDA margin is 20%, the highest level since the third quarter of 2021.

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Speaker Change: Aside from uncertainties in the downstream like at various factors continue to emerge such as the shift in the global trade environment.

Speaker Change: Next is Q2 guidance generally we see area shipment to uptrend during the second quarter, but following discontinuation of LCD TV business, we expect second quarter area shipment to decline by around mid 20% and Conversely, ASP per square meter is expected.

Speaker Change: Q1 EBITDA was $1,231.3 billion with EBITDA margin rate at 20%, which is at its highest since Q3 of 2021.

Speaker Change: Although we faced heightened level of Volatilities in the business backdrop, we were able to drive meaningful results by way of sustaining the profit making streak even during the first quarter, which is known to be a slow season.

Speaker Change: The following is the trend of shipment area and price per area. The shipment area in the first quarter decreased by 19% compared to the previous quarter due to the seasonal impact on medium and large panels, but increased by 1% compared to the same period last year due to the expanded shipment of OLED TV panels and laptop panels.

Speaker Change: This is a result of our strategies that solidified our fundamentals, including the OLED centric structure upgrades rigorous cost innovations, which gradually drove better performance.

Speaker Change: To rise by around 20% level.

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Speaker Change: Next I invite our CFO Kim sung hun to run through the highlights.

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Speaker Change: The following is the regimental cargo provision and ASP per square meter

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Speaker Change: Area Shipment in Q1 was down 19% Q on Q on the back of seasonality impact on mid to larger panels while on a year-over-year basis driven by panel shipment expansion for OLED TV and notebooks, there was 1%

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

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Speaker Change: [laughter], although external uncertainties may persist for the time being we are beginning to see tangible results from the efforts that we've placed behind strengthening core competitiveness and as such we will continue to endeavor to achieve a turnaround in annual profit and further grows the size of that.

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Speaker Change: In terms of price per area, it recorded 804 units, an 8% decrease compared to the previous period.

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Speaker Change: This is a significantly moderated level compared to the usual fluctuations in the first quarter, with notable results in the OLED sector.

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Speaker Change: ASP per square meter recorded $804, which is down by 8% Q on Q.

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Speaker Change: Considering how prices tend to fluctuate during the first quarter, the decline was very much mitigated thanks to robust OLED performance.

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Speaker Change: Aside from uncertainties in the downstream market various factors continue to emerge such as the shifts in the global trade environment.

Speaker Change: Next, I will discuss the sales proportion by product category. Due to seasonal off-peak trends, the sales proportion of the mobile and other segments decreased by 8 percentage points compared to the previous peak period, recording 34%, while the sales proportion of other product categories increased relatively.

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Speaker Change: Although we faced heightened level of volatility in the business backdrop, we were able to drive meaningful results by way of sustaining the profit making streak even during the first quarter, which is known to be a slow season.

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Speaker Change: Next moving on to plans and strategies for each business domain OLED for mobile has one greater trust from the customers and based on stronger production capabilities, we've been able to continuously expand our presence in the high end My Kid.

Speaker Change: Let's move on to the product revenue mix.

Speaker Change: This is a result of our strategies are solidified our fundamentals, including the OLED centric structure updates rigorous cost innovations, which gradually drove better performance.

Speaker Change: On subdued seasonality, mobile and others, revenue dipped 8 percentage points, Kyuha and Kyu reaching 34%. While revenue share of other product segment expanded on a relative base.

Speaker Change: Going forward underpinned by competitive capabilities in technology and stable supply, we plan to enhance core competitiveness, such as quality and cost to drive and sustain shipment expansion.

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Speaker Change: The revenue share of the IT sector increased by 7 percentage points compared to the previous period, reaching 35%, based on the increase in shipments of IT-type OLED panels. The revenue share of the TV sector remained the same as the previous period at 22%, and the revenue share of the auto sector increased by 1 percentage point compared to the previous period, reaching 9%.

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Speaker Change: Also by responding nimbly to fast changing market, we would prepare in a structured way to be ready for future technology.

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Speaker Change: [laughter], although external uncertainties may persist for the time being we are beginning to see tangible results from the efforts that we've placed behind strengthening core competitiveness and as such we will continue to endeavor to achieve a turnaround in annual profit and further grows the size of that market.

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Speaker Change: IT segment revenue share was up 7% percentage point Kyu and Kyu, recording 35% underpinned

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Speaker Change: TV segment revenue was fried Kyuha Q at 22%. While auto segment revenue mix increased

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Speaker Change: The proportion of OLED products within the total sales increased by 8 percentage points year-on-year to 55%, indicating that the results of our ongoing transition to an OLED-focused business portfolio are continuously expanding.

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Speaker Change: For the medium segment, we will be closely monitoring how the market moves and be agile in responding to changes in the downstream market.

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Speaker Change: OLED mix out of total revenue increased 8 percentage points year-on-year reaching 55%. As we continue to see expanded outcome from the company's transformation of OLED centric business portfolio.

Next moving on to plans and strategies for each business domain OLED for mobile has one greater trust from the customers and based on stronger production capabilities, we've been able to continuously expand our presence in the high end market.

Speaker Change: And I D. O led there is clear and distinctive user value that tandem OLED offers with its outstanding performance and durability features including low power longer life and high luminance.

Speaker Change: The following is the financial status and key indicators. The cash and cash equivalents in the first quarter's financial statements amount to 982.3 billion KRW, but this is the balance after the cash held by the Guangzhou LCD plant in China, which was scheduled for sale, was reclassified as assets held for sale according to accounting standards. Including this, the actual cash and cash equivalents held by the company amount to 2.3728 trillion KRW.

Speaker Change: Thus, we expect there to be year over year growth in shipment in 2025.

Carville Patongo: Going forward underpinned by competitive capabilities in technology and stable supply, we plan to enhance core competitiveness, such as quality and cost to drive and sustain shipment expansion.

Speaker Change: And supported by technological leadership and stable mass production experience that's been accumulating over the years, we were further solidify our market position and effectively respond to changes in the environment.

Carville Patongo: Also by responding nimbly to fast changing market, we would prepare in a structured way to be ready for future technology.

Speaker Change: [noise] artist should be permanent.

Speaker Change: The following is Financial Information War and Financial Information War.

Speaker Change: Cash and Cash Equivalent, as stated in Q1 financial statement, is 982.3 billion won, but if we were to include back cash held by China's Guangzhou ACD plant, which has been classified under assets held for sale, in terms of actual cash and cash equivalent that the company

Speaker Change: P S blood test to do say to them.

Carville Patongo: Yeah.

Speaker Change: Trio Goldman Stern Rubicon.

Speaker Change: Have you ever been heightened.

Speaker Change: How long it took to premium milk to look we'll get good this year's equivalent to put them into mobile.

Carville Patongo: <unk> mill amongst Pronaco to make you may now go to <unk>.

Speaker Change: So so much one to one global top tier two carrier.

Speaker Change: <unk> two <unk>.

Speaker Change: Thompson Creek.

Speaker Change: There was some growth on me two and in tandem with the miners have really took home the hutch who are familiar.

Speaker Change: Yeah, Tom getting so long way to go to court and hope overtime me, though.

Speaker Change: She had come down.

Speaker Change: To inject gear issue.

Speaker Change: Sure, we know who her daughter, which took homeowners. So so much look to go to something that will kick in and be done.

Speaker Change: So unknown there is chosen with young used to go through the summer with Smith.

Speaker Change: The following is the guidance for the second quarter. Typically, the shipment area increases in the second quarter, but with the termination of the LCD TV business, we expect the shipment area to decrease by around the mid-20% level. Conversely, the price per area is expected to increase by around 20%.

Speaker Change: So leadership growth.

Speaker Change: <unk> done some tone Baton Rouge.

Speaker Change: In I T. L. C. D segment, we will leverage differentiated high end LCD technologies, including Ips Black and next generation oxide to deliver optimized products that meet customer needs in each product segment and by collaborating with global top tier customers, who are spearheading the high end segment.

Speaker Change: Show me achieve loophole.

Speaker Change: Kind of a mill.

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Speaker Change: Can you give me that.

Speaker Change: For the medium segment, we will be closely monitoring how the market moves and be agile in responding to changes in the downstream market.

Speaker Change: If the market, we would respond to competition and drive results.

Speaker Change: Next is Q2 Guide Q2 Guide

Speaker Change: Generally, we see area shipment to uptrend during the second quarter for following this continuation of LCD TV business. We expect second quarter area shipment to decline by around mid 20.

<unk>, there is clear and distinctive user value that tandem OLED offers with its outstanding performance and durability features including low power longer life and high luminance.

Speaker Change: So through our rigorous cost based innovation and operational efficiency efforts, we plan to sustained bottom line enhancement.

Speaker Change: Okay on TV Com Jewish did T V.

Speaker Change: and Conversely, ASP per square meter is expected to rise by around 20% love.

Speaker Change: Etcetera, what are you wouldn't be able to come in and it should be to be due to demand.

Speaker Change: Thus, we expect there to be year over year growth in shipment in 2025.

Speaker Change: Tim told me a bit children control she smell you'd want to look took some turbulence.

Speaker Change: And supported by technological leadership and stable mass production experience that's been accumulating over the years, we will further solidify our market position and effectively respond to changes in the environment.

Speaker Change: Next, I invite our CFO Kim Sung Hyun to run through the highlights.

Speaker Change: Related to Chimps hope could yoko door to talk to to actually you could do a similar though.

Speaker Change: And large panel business following the closing of sale of Kwangchow L. C. D. T V planned revenue from large panel may start to decline starting the second quarter of this year as L. E. D. T V revenue will no longer be captured but through this strategic decision, we are able to place greater focus on OLED centric structure.

Speaker Change: Hello, this is CF Kim Sang-hyun.

Speaker Change: Yeah.

Speaker Change: Thank you all for attending the conference call.

Speaker Change: <unk> should be permanent.

Speaker Change: Similar to the oxide.

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

Speaker Change: Have you ever been heightened.

Speaker Change: 300, <unk> this year is equivalent to <unk> <unk>.

Speaker Change: In addition to the uncertainty of forward-looking prospects, variables such as changes in the global trade environment are continuously emerging. Although we are facing a business environment with higher volatility than ever, our company continues to maintain a profit trend even in the seasonally slow first quarter amid this highly uncertain environment.

Speaker Change: Great.

Speaker Change: So <unk> global top tier two carrier.

Speaker Change: Tim will let us Hogan will lead to money rather than go to the coupon rule I understand you say if you recall, we send me though.

Speaker Change: You're welcome.

Speaker Change: So long way to go to <unk>.

Speaker Change: <unk>, Hi, Buda wells to come also soon which look to grow because what <unk> done.

Speaker Change: Globally.

Speaker Change: Well, which took public school Toyo, who do to get.

Speaker Change: To call it and try to deal with the T V.

Speaker Change: We have achieved meaningful results. This is due to the strategy of strengthening the business structure centered on OLED and solidifying our internal stability through intensive cost innovation activities gradually taking effect.

Speaker Change: Okay me money to them.

Speaker Change: In LCD segment, we will leverage differentiated high end LCD technologies, including Ips Black and next generation oxide to deliver optimized products that meet customer needs in each product segment and by collaborating with global top tier customers, who are spearheading the high end <unk>.

Speaker Change: People have been premiums you have pointed out in a week, our produc in Zhengzhou against Hong Kong to move Qdoba Scimitar.

Speaker Change: She is here with me to.

Speaker Change: And look to grow too much too many <unk>.

Speaker Change: It can be said that this shows it is leading to results.

Speaker Change: So getting them to a local.

Speaker Change: Gross who come to look too much to co. Two junkies overall took some downward overall see so many check one and she took some down you'll know about kicking me though.

Speaker Change: Aside from uncertainties in the downstream market, various factors continue to emerge, such as the shifts in the global trade environment. Although we face heightened level of volatility in the business path drop, we were able to drive meaningful results by way of sustaining the profit making streak, even during the first quarter, which is known to be a slow season. This is a result of our strategies that solidified our fundamentals, including the OLED-centric structural upgrades, rigorous cost innovations, which gradually drove better performance.

<unk> of the market, we will respond to competition and drive results.

Speaker Change: Also through rigorous cost based innovation and operational efficiency efforts, we plan to sustained bottom line enhancement.

Speaker Change: For large OLED business underpinned by a distinctive value of OLED, we are solidifying our market presence in the high end segment as we maintained close collaboration with global customers in order to expand differentiated and premium product portfolio, including gaming monitors and Jen for OLED Tvs, whose value.

Speaker Change: How big a move.

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So we are vigilant controversy small.

Speaker Change: Electric from $2 <unk>.

Speaker Change: Use such as low power and high luminance, even more improved we expect positive performance, hence will follow.

Speaker Change: Related to chimps, how could your corridor talk to to actually get you assume though.

Speaker Change: And large panel business following the closing of sale of Hangzhou LCD TV planned revenue from large panel may start to decline starting the second quarter of this year as LCD TV revenue will no longer be captured but through this strategic decision, we are able to place greater focus on OLED centric structure upgrades.

Speaker Change: We will also continue to run efficient operational strategy and cost cutting efforts to respond nimbly to changing demand and consequently drive mid to longer term volume growth, coupled with quality driven growth accompanied with profitability enhancements.

Speaker Change: Although the uncertainty of the external environment may continue for some time, we are seeing the results of our focus on strengthening fundamental competitiveness, and we will strive to achieve a turnaround to profitability for the year and further expand its scale.

Speaker Change: [noise] Palmer Autoscope, who want them at all.

Speaker Change: Although external uncertainties may persist for the time being, we are beginning to see tangible results from the efforts that we've placed behind strengthening core competiton

Speaker Change: Yeah.

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Speaker Change: Tranches have them to singer conduct some of them will not come out with snow suddenly to supply to them. Once you talk to a little work to do with cool payments are quiet coastal corridor.

Speaker Change: Recall with similar though.

Speaker Change: And as such, we will continue to endeavor to achieve a turnaround in annual profit and further

Speaker Change: Globally.

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Speaker Change: Crude oil hung in well lit well as T. P. A C H.

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Speaker Change: And to call it in.

Speaker Change: Joining me though.

Speaker Change: So the OLED TV, Jamie monitor them.

Speaker Change: Congress Southern Union's Hogan.

Speaker Change: Regarding the plans and strategies for each business area, in the case of the OLED business for mobile, we aim to strengthen our production capabilities and build customer trust.

Speaker Change: Corridor cluster will lead to a fuel how you're in the LTE P. S issued I'm sorry I.

Speaker Change: Have you ever been premiums or <unk>.

Speaker Change: Pluto conjuncture against Hong Kong to move to Doug we similar.

Speaker Change: Then two excuse me, we put up collateral. So you just do more true food be suddenly from movie Hubbell. She spoke to gains on jumbo hunker and doing Juggins Fukuda real quick Conoco kicking me, though.

Speaker Change: The position in the high-end market is continuously expanding. We plan to continue increasing shipments by enhancing core competitiveness such as quality and cost based on technological competitiveness and stable supply capabilities. Additionally, we plan to systematically prepare for future technologies while responding flexibly to the changing market environment.

Speaker Change: Two shifts here and there.

We look to grow tumors treatment, who took an OEM to Luca.

Speaker Change: So we're going to look too much to co 2 million user grow don't took some downward overall.

Speaker Change: Next is the auto business, although volatility can be supported across the overall auto market in vehicle display adoption continues to expand and accelerate a shift towards larger sized panels works to the advantage of the demand for our core products OLED and N T. P. S. L C D.

Speaker Change: So we'll take one and two took some down.

Speaker Change: Sure.

Speaker Change: For large OLED business underpinned by a distinctive value of OLED, we are solidifying our market presence in the high end segment as we maintain close collaboration with global customers in order to expand differentiated and premium product portfolio, including gaming monitors and Jen for OLED Tvs, whose value.

Speaker Change: Next, moving on to plans and strategies for each business domain, all led for mobile has one greater trust from the customers and based on stronger production capabilities, we've been able to continuously expand our presence in the high end markets.

Speaker Change: For the auto business, we will fortify our position as global number one in terms of differentiated product and technology portfolio, which includes plastic OLED E. T O high end L. T. P. S. L. L C D and.

Speaker Change: Such as low power and high luminance, even more improved we expect positive performance, hence will follow.

Speaker Change: Going forward, underpinned by competitive capabilities in technology and stable supply, we plan to enhance core competitiveness, such as quality and cost, to drive and sustain shipment expansion.

Speaker Change: And coupled with sustainable growth, we plan to build up a stable earnings structure.

Speaker Change: We will also continue to run efficient operational strategy and cost cutting efforts to respond nimbly to changing demand and consequently drive mid to longer term volume growth, coupled with quality driven growth accompanied with profitability enhancements.

Speaker Change: Could you talk to me a damn I suddenly you get something though.

Speaker Change: It's a joke or maybe than usual each one of them.

Speaker Change: Also, by responding limbly to fast-changing market, we will prepare in a structured way to be ready for future technology.

Speaker Change: Neil or to sell them.

Speaker Change: But she didn't dealings with Penn doing them and you're doing the true tune button, you're telling me though.

Tom Row: Tom Row total pointing me, though.

Tom Row: Tranches have answer singer conduct soon Luna tunnel with small suddenly to exclude two once you talk through what you have to do it.

Speaker Change: The medium-sized IT sector plans to closely observe market conditions and respond swiftly to changes in the forward market trends.

Speaker Change: Lastly on investment activities investment last year amounted to $2. Two trillion won and investment in 2025 is expected to be around mid to low two trillion won in line with the communication made last quarter.

Tom Row: <unk> acquired a corridor transfer virtual corrosion and will lead to <unk>.

Speaker Change: In the IT OLED sector, there is clearly a distinct user value in tandem OLEDs due to their excellent durability and performance, such as low power consumption, long lifespan, and high brightness. Therefore, we expect shipment growth this year compared to the previous year.

Tom Row: Transfer term rooms Hogan.

Tom Row: A little cluster led to Apu.

Speaker Change: Thompson industry. So much when she must hope we don't because you'll lose your choke with smeal project want to hung and our youth are those who can dumps on blue corridor pushes looking.

Tom Row: The LTP associated.

Tom Row: <unk> excuse me.

Tom Row: We'll put to Colorado.

Tom Row: Two more shuttle service.

Speaker Change: Based on technological leadership and accumulated, stable mass production experience, we plan to further strengthen our position in the market and effectively respond to the changing environment.

Tom Row: We certainly can we go to talk to gain some ground on.

Speaker Change: And tell me so comparable when you only end up running on school, you'll know we shouldn't do.

Tom Row: <unk> real quick.

Speaker Change: Total fulfillment challenges for you and probably two.

Tom Row: Yeah.

Tom Row: Next is auto business, although volatility can be supported across the overall auto market in vehicle display adoption continues to expand and accelerate a shift towards larger sized panels works to the advantage of the demand for our core products.

Speaker Change: I don't want meal shinju, each chip N loud to Chunghwa.

Speaker Change: Washington State is so low.

Speaker Change: In the medium IT segment, we plan to detect market movements and actively investigate responses to changes within the market.

Speaker Change: So much to do with local roots.

Speaker Change: To me, though.

Speaker Change: Yeah.

Speaker Change: We maintain profit focused business operations and as we are mindful of changing external environment and ensuing fluctuations and demand we adhere to the principle of keeping to a conservative stance when it comes to reviewing and running the investments we were fully maximized the use of our infrastructure that we can.

Speaker Change: In IT OLED, there is clear and distinctive user value that tandem OLED offers with its outstanding performance and durability features, including low power, longer life and high luminance.

Tom Row: <unk> and <unk> LCD.

Tom Row: For the auto business, we will fortify our position as global number one in terms of differentiated product and technology portfolio, which includes plastic OLED Eto high end LTE PSL LCD.

Speaker Change: Thus, we expect there to be your over your growth and shipment in 2025.

Tom Row: And coupled with sustainable growth, we plan to build up a stable earnings structure.

Speaker Change: Any one and be prudent in making capex spend and profitability at capex spend and profitability would be of utmost priority when we make new investment decisions in the future.

Speaker Change: and supported by technological leadership and stable mass production experience that's been accumulating over the years. We were further solidify our market position and effectively respond to changes in the environment.

Good.

Tom Row: They're much smaller.

Tom Row: Shlomi Prideaux Commingling Israel is Hogan.

Speaker Change: Thank you.

Tom Row: E Mail order.

Speaker Change: Yes.

Tom Row: As <unk> mentioned in doing so condominium.

Speaker Change: In total you're telling us you're going to need a bogie triage its only on paper. It about suggests to me that <unk> gone through I guess to me that well probably took his honeymoon Judy aimed up unedited protected to me though.

Speaker Change: The ITSD division includes IPS Black, next-generation oxide, etc.

Tom Row: The chalk Chamberlain as Armada.

Speaker Change: We aim to provide products optimized to meet customer needs in each product area by utilizing differentiated high-end LCD technology and to secure performance by responding to competitive situations through collaboration with global top-tier customers leading the market in the high-end sector. At the same time, we plan to continuously improve profitability by persistently pursuing intensive cost innovation and operational efficiency.

Tom Row: Lastly on investment activities investment last year amounted to $2. Two trillion won and investment in 2025 is expected to be around mid to low two trillion won in line with the communication made last quarter.

Speaker Change: This ends the key highlights for the first quarter of 2025 earnings we will now begin the Q&A operator. Please proceed.

Speaker Change: She didn't go towards he didn't double you're stuck with it.

Speaker Change: Kimberly I say put in until now Debottleneck catch what you're gonna do they should keep at them.

Tom Row: Complementary songs, we must hope we don't because you reduce your with Smeal project to Ontario on young our parents, who conduct some dilutive courtyard El Pas looking in terms of comparable Phenolion onshore.

Speaker Change: Tim on there too so I see them. It takes a lot you bought here in Michigan.

Speaker Change: Well not on page nine of the IL, two and then helping them to godsey NATO participating either now Q&A session will begin. Please press star one that is starting to if you have any questions.

Speaker Change: In IT LCD segment, we will leverage differentiated high-end LCD technologies, including IPS Black and next-generation oxide to deliver optimized products that meet customer needs in each product segment. And by collaborating with global talk to your customers who are spearheading the high-end segment of the market, we will respond to competition and try to resolve.

Tom Row: No.

Tom Row: Total fulfillment Changzhou Purion M protein tritium automobile changing at two P M.

Speaker Change: <unk> will be taken according to the order you have pressed the number of Starwood for cancellation. Please press star two that is starting to on your phone in order to allow as many Q&A chances as possible within the restricted time, we would appreciate only two questions per each participant.

Tom Row: Tom Whooshing you too. So do you think some will choose on the overall quarter.

Tom Row: Remember, though.

Tom Row: We maintain profit focused business operations and as we are mindful of changing external environment and ensuing fluctuations and demand we adhere to the principle of keeping to a conservative stance when it comes to reviewing and running the investments we were fully maximize the use of infra.

Speaker Change: Also through a rigorous cost-based innovation and operational efficiency efforts, we plan to sustain bottom line enhance.

Speaker Change: In the case of large-scale businesses, with the sale of the HDTV factory in Guangzhou completed, HDTV sales will be excluded from the second quarter of this year, which may lead to a decrease in sales for large-scale businesses. However, this strategic choice allows us to focus more on structuring a business centered around OLED.

Speaker Change: Tom what are with him when actually shape, when then caveats and Gordon Aitken doing neither.

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

Tom Row: Structure that we currently own and be prudent in making capex spend and profitability capex spend and profitability would be of utmost priority when we make new investment decisions in the future.

Speaker Change: Yeah, Tim I'm good.

Speaker Change: Another immuno top onto to Manhattan could trigger and coupons. They should all come bongs, Saddam Guo who gets I'm thinking maybe on I think you can go back.

Speaker Change: In large panel business, following the closing of sale of Kwang Jo LCD TV plant, revenue from large panel may start to decline, starting the second quarter of this year, as LCD TV revenue will no longer be captured. But through this strategic decision, we are able to place greater focus on OLED Centric Structural Upgrade.

Tom Row: Thank you.

Speaker Change: Yeah.

Tony: <unk> you Tony.

Speaker Change: Lithium alethia.

Speaker Change: So its only on paper at about mid <unk> through I guess to me the operator, Kevin and Judy aimed up unedited protected EBITDA.

Speaker Change: Two one to 2 million how long she basically when you see it that I'm young doorways vehicles don't breakup Omega, Dan kind of about your cellphone stroke Jacobo.

Speaker Change: This ends the key highlights for the first quarter of 2025 earnings we will now begin the Q&A operator. Please proceed.

Speaker Change: Youre welcome doing their offtake to hit you send me an email.

Speaker Change: The large OLED business is strengthening its position in the high-end market based on the differentiated value of OLED. We are continuing close collaboration with global customers and expanding differentiated premium products such as 4th generation OLED TVs and gaming monitors, which have enhanced features like low power consumption and high resolution. Therefore, we expect positive performance trends in the future. At the same time, we plan to continue qualitative growth that enhances profitability along with quantitative growth in the medium to long term by maintaining efficient operational strategies and cost reduction efforts that can flexibly respond to demand areas.

Stephen will call Gd and beverage that could do that.

Speaker Change: Thank you very much for taking my question. My first question would like to understand as to whether there are any changes that you are able to identify on the in the downstream market as well as in your customers with regards to the United States a tariff that is quite hotly debated of recent.

Speaker Change: Tim when they had to put in so nothing about generic catch why you bought whose unless you give them that.

Speaker Change: Human there too so as you know Matt talked a lot <unk>.

Speaker Change: One that NPA Genuity, Hey, all human help Unbanked, who got the needle protecting that now Q&A session will begin. Please press star one that is starting to if you have any questions questions will be taken according to the order you have pressed the number star one for cancellation. Please press star two that is starting to on your.

Speaker Change: And also I would like to know as to what else how else you just they could respond to such development.

Speaker Change: Second question is as part of disclosure made on April the 11th there was a disclosure on the sales proceed with regards to the sale of L. C. D. TD Atlantic punk Joe is there any information that you could update us on.

Speaker Change: 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: Yeah.

Speaker Change: For a large OLED business underpin by a distinctive value of OLED, we are solidifying our market presence and the high-end segment. As we maintain close collaboration with global customers in order to expand differentiated and premium product portfolio, including gaming monitors and Gen 4 OLED TVs whose values, such as low power and high luminance are even more improved, we expect positive performance than 10th will follow.

Speaker Change: You see a pool most of them.

Speaker Change: So the Q.

Speaker Change: Telling them what else you would add to ship and then <unk>.

Speaker Change: We will consider.

Speaker Change: This woman.

Speaker Change: 200, <unk> could pay up to get them to join them familiar.

Speaker Change: The first question will be provided by Dong hwan, Kim from <unk> Securities.

Gordon Aitken: Gordon will roll through the year.

Speaker Change: Please go ahead with your question.

Speaker Change: Yes.

Speaker Change: This is the CFO I will take your question with regards to the imposition of the United States tariffs I understand that the direction going forward is towards imposing such tariffs.

Speaker Change: Another top onto to Manhattan could trigger an illegal plantation.

Speaker Change: Tom Bongs, Stonewall I'm thinking maybe I don't think it means it will go down.

Speaker Change: We will also continue to run efficient operational strategy and cost-cutting efforts to respond nimbly to changing demand and consequently drive mid to longer-term volume growth coupled with quality-driven growth accompanied with profitability enhanced.

And the display deal data.

Speaker Change: Well you opened the Italians categories.

Speaker Change: Two one to two minimum how CBD as you can see that in young do is equally down make it kind of got your cellphone goes through <unk>.

Speaker Change: Hum Pseudotsuga pontoon.

Speaker Change: On the same on any books show Little Hudson Neurology.

Speaker Change: Oh, I'm, sorry, the Cocobolo puck Hayden from you should.

Speaker Change: Okay.

Speaker Change: Next is the auto section.

Speaker Change: So Neil young.

Speaker Change: I gotcha.

Speaker Change: Although there is some volatility in the overall automotive market, the adoption of in-vehicle displays is continuously expanding, and the acceleration towards larger displays is positive for our main focus areas, OLED and LTPS LCD.

Speaker Change: Okay.

Speaker Change: Go country, you don't see them go smoother.

Thank you very much for taking my question. My first question I would like to understand as to whether there are any changes that you are able to identify on the in the downstream market as well as in your customers with regards to the United States a tariff that is quite hotly debated of recent.

Speaker Change: As you would appreciate a tariff policy does not singly target the tariff per se. There are multiple issues that are relevant in terms of the relationship that our country has led to another and I believe that a tariff policy is used as a means to deal with those multiple array of issues.

Speaker Change: Our automotive business plans to solidify its position as the world's number one company by continuing to offer differentiated products and technology portfolios such as plastic OLED, ATO, high-end LTPS, and LCC. We aim to establish a stable profit structure along with continuous growth.

And also I would like to know as to how LG display could respond to such development. Our second question is as further disclosure made on April 11.

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Speaker Change: As a disclosure on the sales proceed with regards to the sale of LCD TV Atlantic punk Joe is there any information that you could update us on.

Speaker Change: Because you go in and then how long your daughter, who join and either we scimitar.

Speaker Change: Nexus Auto Business. Although volatility can be spotted across the overall auto market, in vehicle display adoption continues to expand, and accelerated shift towards lawyer-sized panels worth to the advantage of the demand for our core products, OLED and LTPSLCD.

Speaker Change: In a nutshell, what I need to say that there is quite a bit of volatility that is embedded in the implementation of the tariff policy per se.

Paul Marsch: Sure Paul Marsch from <unk>.

Speaker Change: You don't want to launch products.

Speaker Change: Yes.

Speaker Change: <unk>.

Speaker Change: Totally yeah chip commute.

Speaker Change: We will consider.

Speaker Change: This woman.

Speaker Change: Choctaw.

Speaker Change: <unk> Coupe that took him to join them familiar.

Speaker Change: And then you put one on Coyote, Washington, Good took sort of of course.

Speaker Change: For the auto business, we will fortify our position as global number one in terms of differentiated products and technology portfolio, which includes plastic OLED, ATO, high-end LTPSL, LC.

Speaker Change: 100 <unk>.

Speaker Change: And as you would know basically it is rare that our product will directly be exported into the U S market.

Speaker Change: This is the CFO I will take your question with regards to the imposition of the United States tariffs I understand that the direction going forward is towards imposing such tariffs.

Speaker Change: and coupled with sustainable growth, we plan to build up a stable earnings structure.

Speaker Change: Oh, you don't want to reach out to us and I'm going to tell you though.

Speaker Change: Consumer pool news cement a wyndham women. So you said talk to the in the toilet.

Speaker Change: We are open to <unk>.

Speaker Change: Lastly, let me talk about investment activities.

Speaker Change: Hum Pseudotsuga.

Speaker Change: And then could you talk to do there.

Speaker Change: Last year's investment amount was 2.2 trillion won, and this year's investment is expected to remain unchanged from what was mentioned in the last quarter, in the early to mid-2 trillion won range.

Speaker Change: Modern book Showgirl Hudson <unk>.

Speaker Change: Samsung Z Cho Luggie Kip comes on tenant Oh coupon the age wishes wish me, though.

Speaker Change: I'll tell you the cocobolo pocket in chrome.

Speaker Change: You should.

Speaker Change: Okay.

Speaker Change: I gotcha.

Speaker Change: And as you know and the companies that are directly facing the tariff issue or this set to makers and we are hence very closely monitoring as how the set makers will determine their production base going forward and the restricted use when they used it to their production they can undercut each other.

Speaker Change: Good confidant.

Speaker Change: Lastly, on investment activities. Investment last year amounted to 2.2 trillion won and investment in 2025 is expected to be around mid to low 2 trillion won in line with the communication made last quarter.

Speaker Change: Hum.

Speaker Change: As you would appreciate a tariff policy does not singly.

Speaker Change: Target the tariff per se there are multiple issues that are relevant in terms of the relationship that our country has led to another and I believe that tariff policy is used as a means to deal with those multiple array of issues.

Speaker Change: Our company maintains a business operation policy focused on profitability, and we continue to review and operate investments from a conservative perspective, taking into account changes in the external environment and the resulting demand fluctuations.

Speaker Change: You're going to come jumbo loan.

Speaker Change: As for Douglas drama, we Miss it.

Speaker Change: Or you could buy some given goldman coupon to them to Colombia.

Speaker Change: Well remember sort of popped up.

Speaker Change: But as far as we know and based upon what we had researched as of today, we understand that there were notes at no set makers at this point, who have changed their production base strategy.

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Speaker Change: Sure.

Speaker Change: Because you go in and then how long at that level, we Smith.

Speaker Change: Therefore, we plan to execute investments cautiously while maximizing the use of existing infrastructure, and prioritize profitability for any future new investments.

Speaker Change: In a nutshell, what I need to say that there is quite a bit of volatility that is embedded in the implementation of the tariff policy per se.

Speaker Change: Oh, you don't pull when are you going to cool I'll call back some due at this juncture good conduct sanyo to play around with.

Speaker Change: We are open to launch highlights.

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Speaker Change: Toy year to permit.

Speaker Change: Keypotsepo

Speaker Change: Overall demand.

Shannon: Chris will also trigger castle gauge wish him and so oh.

Speaker Change: And in the room.

Speaker Change: Coyote Washington.

Speaker Change: It took some of our customers.

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Speaker Change: And as you would know.

Speaker Change: How big QAD, Luciano, it's like a Switzerland.

Basically it is rare that our product will directly be exported into the U S market.

Shannon: It's hard to see.

Shannon: Okay.

Shannon: So to go through.

Speaker Change: You are on the retail number two tiger.

Shannon: Oh cool.

Simona Wyndham: Consumer pool, Simona Wyndham Wyndham.

Shannon: To go to another month or two and have little criticism, though.

Speaker Change: It hopes.

Shannon: And so what we know is that in terms of how the policy is actually going to play out into the future, which direction that it would take it is still open to fluctuation. It has not yet been completely determined. So hence there are certain uncertainties that is why we are very closely observe.

Speaker Change: Tony could you talk to do there.

Speaker Change: Samsung <unk> <unk> tenant.

Speaker Change: This concludes the presentation of the key performance details for the first quarter of 2025. Next, we will have a Q&A session. Operator, please provide the instructions for the Q&A.

Speaker Change: Globally, the AG shares of wish Linda.

Speaker Change: And as you know and the companies that are directly facing the tariff issue or this set makers and we are hence very closely monitoring how the set makers will determine their production base going forward and the restricted use related to their production base.

Shannon: During and following our what is happening with regards to these policy implementation and we will come up with an appropriate countermeasure to deal with at the developments that take place to make sure that we control the situation that we don't lose out on any business opportunity or that we don't.

Speaker Change: This ends the key highlights for the first quarter of 2025 earnings. We will now begin the Q&A and operator, please proceed. Thank you.

Speaker Change: Let's start the question now. Now Q&A session will begin. Please press star 1, that is star 2, if you have any questions. Questions will be taken according to the order you have pressed the number star 1. For cancellation please press star 2, that is star 2 on your phone. 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: 100, <unk> come Jim Malone.

Speaker Change: This high level strong, we misread quadrant AUM number for <unk>.

Shannon: So the developments don't undermine our profitability.

Speaker Change: But as far as we know and based upon what we have researched as of today. We understand that there are notes that no set makers at this point, who have changed their production base strategy.

Shannon: Oh cool your own due to combination of moves.

Shannon: So I'll go fishing them change sung <unk>.

Shannon: <unk>.

Quinn: Since you're Gonna you should because you go in Changzhou, Quinn, who wondered channel Octavus Cushman <unk> Wakefield.

Speaker Change: You don't call me on the.

Speaker Change: Goodbye some deal with us.

Shannon: Critical.

Speaker Change: Tom <unk> York.

Shannon: Who wants to live in your Cogs.

Speaker Change: Our new plant in Richmond.

Shannon: I'll give them.

Speaker Change: So.

Shannon: Yeah.

Speaker Change: So you'd rather in voluntary.

Shannon: <unk> proven the hundred who knows.

Speaker Change: We would hope we will.

Yeah.

Speaker Change: <unk> trigger careful gauge wish him and so oh.

Shannon: I believe I'm one of the things that you'd be most interested in it, especially whether there are any critical issue points across our SC and our supply chain I can tell you that there are no critical issues that at this point. We are we you know we believe will exist and also in terms of any pressures on the pricing we believe that.

Speaker Change: Two.

Speaker Change: <unk>, So we are Switzerland.

Speaker Change: The first person to ask a question is Mr. Kim Dong-heon from KB Securities. Yes, thank you for the opportunity to ask a question. The first question is whether there have been any changes in the front-end market and customer movements due to the recent U.S. tariff issues. I would also like to hear about LG Display's response plans regarding this.

Todd.

Speaker Change: Onto come to control so to go through.

Speaker Change: Yes.

Speaker Change: Oh good.

Speaker Change: So those have an element of a tool had little Christmas.

Shannon: Well there is no price pressure price pressure that will be exposed to because of this issue.

Speaker Change: Yeah.

Speaker Change: And so what we know is that in terms of how the policy is actually going to play out into the future, which direction that it would take it is still open to fluctuation. It has not yet been completely determined. So hence there are certain uncertainties that is why we are very closely observing and following what does.

Shannon: Our 2123.

Shannon: Congo B.

Shannon: The P P Hogan bigger cause and in some we shouldn't do.

Speaker Change: The second question is, according to the disclosure on April 11, I remember there was a change in the sale amount of the Guangzhou LCD TV factory. If you have any updates regarding this, please let me know. That's all.

Shannon:

Shannon: Sure So I E.

Shannon: Oh.

Shannon: Who could make some little I'll talk about for me, though who they owe me Marc Weil, Holy Smokes I'm doing in them they owned them.

Speaker Change: Happening with regards to these policy implementation and we will come up with an appropriate countermeasures to deal with at the development that take place to make sure that we control the situation that we don't lose out on any business opportunity or that we don't.

Speaker Change: Thank you very much for taking my question. My first question would like to understand as to whether there are any changes that you are able to identify on the downstream market as well as in your customers were through us to the United States tariff. That is quite hardly debated of recent and also would like to know as to how LG Display could respond to such development. Second question is, as per the disclosure made on April the 11th, there was a disclosure on the sales proceed with regards to the sale of LCD TV plant at Guangzhou. Is there any information that you could update of Sung Kim?

Shannon: I'll call you opt to push them to Cook wheel.

Shannon: Could you who how old it is true.

Speaker Change: Oh sure so too so.

Speaker Change: So the developments don't undermine our profitability.

Shannon: Who.

Speaker Change: Q1, due to combination of invoice.

Shannon: So you called the only took him to the entry in Colorado as Sundar.

Speaker Change: So assume changing event.

Tony on the window of sheet Kingdom totals of women below hugging two weeks ago.

Speaker Change: <unk> windows.

Speaker Change: <unk> you should look as you're growing them chunk will come when the wind tunnel Opdivo chemo question with your quote.

Shannon: Who do you who.

Shannon: Take him to be chicken coop.

Speaker Change: Q4 two.

Speaker Change: Yeah, John it's the Russell cool.

Speaker Change: Too much Lou.

Speaker Change: Cool truly don't you saw similar twilio doing a telephone to single okay.

Speaker Change: I'll give them good parkway.

Speaker Change: <unk> hundred <unk> right now.

Speaker Change: Chip will take will take us to roughly similar.

Speaker Change: I believe one of the things that you'd be most interested in is whether there are any critical issue points across our SCM our supply chain I can tell you that there are no critical issues, but at this point. We are we you know we believe will exist and also in terms of any pressures on.

Speaker Change: I wanted to ask him to you gentlemen.

Speaker Change: So I'm going to talk about what's going on.

Speaker Change: As for the current U.S. customs department

Speaker Change: Hum.

Speaker Change: And while those hung bungie tumor.

Speaker Change: Would all go we mean and can I get hungry, we'd be tendered or what kind of accustomed to caution.

Speaker Change: We also understand that the current general stance is clearly to impose tariffs.

Speaker Change: Ooh go lease who can go out with him Huntington component at colonial or industrial Cushing behind them.

Speaker Change: On pricing, we believe that there is no price pressure price pressure that will be exposed to because of this issue.

Speaker Change: This is the CFO . I will take your question. With regards to the imposition of the United States Terrorist Terrorist, I understand that the direction going forward is towards imposing such terrorist.

Speaker Change: Oh good.

Speaker Change: Cool.

Speaker Change: Yeah.

Speaker Change: [noise] timber cookie in them.

Speaker Change: 123.

Speaker Change: Oh, Yeah, Tony I wanted to touch a little on and go with them.

Congo, Okay. It should.

Speaker Change: As you may well recognize, tariffs themselves are not solely intended for the purpose of tariffs alone, but also for various other purposes.

TB.

Speaker Change: Megacolon solution deal.

Speaker Change: Hum drum shakeup somewhere you unimproved one.

Speaker Change: Oh two.

Speaker Change: <unk> co CFO.

Speaker Change: Q4, we didn't we wouldn't do it.

Speaker Change: This means that it is also a tariff policy for solutions to issues that need to be identified by country.

Speaker Change: Okay.

Speaker Change: Who could make Salvador.

Speaker Change: On the operational and go to them.

Speaker Change: Goodbye Smith.

Speaker Change: Sure.

Speaker Change: The only macro wholesale condo in and around the room.

Speaker Change: Put them in jail Chee Koon Ching turned on and what we're trying to do.

Speaker Change: As you would appreciate a terrorist policy does not singly target the terrorist per se. There are multiple issues that are relevant in terms of the relationship that a country has with another. And I believe that a terrorist policy is used as a means to deal with those multiple array of issues.

Speaker Change: Coyote pushing into Coffeyville.

Speaker Change: We'll see.

Speaker Change: Channel by showing them what you do on the.

Speaker Change: Could you, who how would give you a rule.

Speaker Change: Who is going to.

Speaker Change: Yeah.

Speaker Change: Yes, and then moving on to the second question about the sale of the entity that we have the LCD cheat Atlantic Hangzhou.

Speaker Change: Sure so too so.

Speaker Change: Who.

Speaker Change: Chris has been with <unk>.

Speaker Change: <unk> Alright Sundar.

Speaker Change: As per our disclosure that we have previously made the amount of the sales proceed is the correct amount. There I'll say you know the there is almost no change to the figure that we had previously disclosed and we've been informed that as of April the third C. S. O T. A is running that plant at full is capped.

Speaker Change: Tony on the Boondocks Kingdom total women were logging.

Speaker Change: What I am saying is that we understand the tariff policy is still in a situation with significant volatility.

With the Hu <unk>.

Speaker Change: Take them to be going through.

Speaker Change: We are doing it also.

Speaker Change: Cool.

Speaker Change: So similar to really doing a telephone to standard of care.

Speaker Change: About this, real estate hack

Speaker Change: Chip will take will take us roughly.

Speaker Change: Pasadena, meaning that the plant is currently running with out any significant issues and in terms of the sales proceed in it we are being paid meaning we are receiving that payment as per the payment schedule and so with regards to this sales transaction I can tell you that more or less the whole transaction is.

Speaker Change: Linda.

Speaker Change: You probably need to ask them.

Speaker Change: As you all know very well, it would be appropriate to say that our products are hardly directly exported to the United States.

So I'm good at a level similar question.

Speaker Change: And while those homebound.

Speaker Change: Sure I'll go.

Speaker Change: You mean in Quebec at Homegoods, we tender Oceano question to caution.

Speaker Change: Well go and do to congregate I assume hirschmann Corona Corona or industrial question Mohan I'm wondering.

Speaker Change: All are closed.

Speaker Change: So in the first half of the year, we are looking forward to a meaningful amount of cash in our into the company.

Speaker Change: I'll tell you.

Speaker Change: As you all know well, we are facing issues in the parts related to the set companies, and we are addressing those set companies.

Speaker Change: However.

Speaker Change: Tim look again.

Speaker Change: Second part I'm sure you're also interested as to where we would be using this sales proceed.

Speaker Change: Tony if we wanted to touch him from diesel to <unk>.

Speaker Change: The company's thoughts are that we would not be concentrating the use into one specific area. So we will not be using the whole amount to one such an area. We are mindful of different aspects in terms of urgency of certain business on preparations for the future and the operation now based upon the assumption that all of them.

Speaker Change: Jim shook up somewhere you unimproved one.

Speaker Change: We are closely monitoring how the production site strategy is changing.

Speaker Change: Q4, we didnt we couldnt.

Speaker Change: Do you with Honda operation, Roland and look to them.

Speaker Change: Sure.

Speaker Change: As you know, the companies that are directly facing the tariff issue are the set makers and we are hence very closely monitoring as how the set makers will determine their production base going forward and the strategies related to their production.

Hello <unk>.

Speaker Change: I will.

Speaker Change: Channel by similar what happened.

Speaker Change: Those.

Speaker Change: All of those factors there that there are no issues, we would be making a decision as to where we will invest that amount.

Speaker Change: Is that.

Speaker Change: Yes.

Speaker Change: Yes, and then moving onto the second question about the sale of the entity that we have the LCD cheat Atlantic Guangzhou.

camacho: Mhm Camacho Microcontrollers for 30 months.

Speaker Change: As of now, we have detected that there are no set makers who are revising their production site strategies.

camacho: Pretty soon but on the kitchen floor to many who you're always twist chew down into women's how long it will oh.

Speaker Change: As per our disclosure that we have previously made the amount of the sales proceed is the correct amount are they all say the there is almost.

Speaker Change: But, as far as we know and based upon what we had researched as of today, we understand that there are no set makers at this point who have changed their production based strategy. [inaudible]

camacho: Could a commitment until you go to a bigger between what's going on in Florida.

Speaker Change: Almost no change to the figure that we had previously disclosed.

camacho: <unk>.

Speaker Change: Oh, Tim I'm going to get hold of helping them settling into a pool could you walk choice home nook on others beyond political and sugar.

Speaker Change: We've been informed that as of April the first CSO T is running that plant at.

Speaker Change: As I mentioned earlier, we are fully aware that there is a possibility of change depending on how and in which direction the policy volatility progresses. Accordingly, we are continuously monitoring the situation.

Speaker Change: Full capacity, meaning that the plant is currently running with out any significant issues and in terms of the sales proceed.

camacho: Took them.

Speaker Change: So as I talked to they really didn't compete well there.

camacho: So that usually kind of moved from between each but I wish Linda.

Speaker Change: We are being paid meaning we are receiving that payment as per the payment schedule and so with regards to this sales transaction I can tell you that more or less the whole transaction is now closed.

camacho: Well, so let me backtrack on this thing just I'm, giving you a clear message on this basically in terms of the cash flow requirement for our operations. We are able to fund that through the operational activities. So the sales proceeds that we would get the cash flow that will come in we will use part of it and improving the.

Speaker Change: Either we miss the business opportunity, or we continue to control it well so that our profitability does not deteriorate.

Speaker Change: So in the first half of the year, we are looking forward to a meaningful amount of cash in into the company.

Shannon: We will respond by establishing measures.

Speaker Change: I'm sure you're also interested as to where we would be using this sales proceed.

camacho: Financial standing and also the neat too there may need to be some investment that we make to better prepare for the future and to strengthen our business capabilities in terms of the OLED business.

Shannon: And so what we know is that in terms of how the policy is actually going to play out into the future, which direction that it will take. It is still open to fluctuation. It is not yet been completely determined. So hence there are certain uncertainties. That is why we are very closely observing and following what is happening with regards to these policy implementation. And we will come up with an appropriate countermeasure to deal with the developments that take place. To make sure that we control the situation that we don't lose out on any business opportunity or that we don't, so the developments don't undermine our profit.

Speaker Change: The company's thoughts are that we will not be concentrating the use into one specific area. So we will not be using the whole amount to one such an area. We are mindful of different aspects in terms of urgency of certain business on preparations for the future and the operation now based upon the assumption that all.

camacho: The two month after all I guess for me the.

camacho: Next question please.

Speaker Change: [noise] tangled with whom we're there to help and then I became cause that didn't go next and when would you need are the following question will be presented by window came from I B K investment in Securities. Please go ahead with your question.

Speaker Change: Of those.

Speaker Change: All of those factors there.

Speaker Change: There are no issues, we would be making a decision as to where we will invest that amount.

Speaker Change: Commercial mature control method to the womens.

Speaker Change: The tune convince yourself all comes on a little bit of ammonia deal, that's helping to offset the subclinical. So somebody can put them on.

Speaker Change: Similarly on the cash flow and I'm truly all 24 2 billion into women's how long ago.

Shannon: And this might be what you are most curious about. Regarding our SCM chain, you can rest assured that there are no significant issues or problems causing concerns. And the most curious thing might be whether we are under price pressure.

Henry Singleton: Henry Singleton.

Speaker Change: Recruitment into the <unk> 2001 and cash flow.

Speaker Change: Hey, good production from question two what do you mean, when you see how long you could keep up with it then.

Speaker Change: Tim would you get some help on I'm, just wondering could you walk through some knock on <unk>.

Speaker Change: Hot money or don't know, how you said you got them.

Speaker Change: We don't need to tell you that we'll get how consumers are coming into Shin young.

Speaker Change: Hum.

Speaker Change: It will prevent the huh, okay. So look we'll get kind of balance sheet.

Speaker Change: So that's actually utilize or it could be the winner.

Speaker Change: When it looks like on a combination like that because what we see.

Speaker Change: So it's really kind of more fluid issue I wish Linda.

Shannon: There are no such aspects at the moment.

Speaker Change: And I need a number you got to limit that you have.

Speaker Change: Well, so let me backtrack on this and just give you a clear message on this basically in terms of the cash flow requirement for our operations, we are able to fund that through the operational activities.

Nikki: We aren't going on Oh, gosh I'm Nikki.

Shannon: I believe one of the things that you'd be most interested in is whether there are any critical issue points across our SCM, our supply chain. I can tell you that there are no critical issues that at this point we believe will exist. And also in terms of any pressures on our pricing, we believe that there is no price pressures that we'll be exposed to because of this issue.

Speaker Change: That kind of an opposite.

Nikki:

Nikki: When they are not going to know productivity real critical mass in a market or not.

I won't get into the Permian oil got word of mouth, and then you get a young people with.

Speaker Change: The sales proceeds that we would get the cash flow that will come in we will use part of it and improving the financial standing and also the need to there may need to be some investments that we make to.

Nikki: The little known Dino someone need no go ahead.

Nikki: Look it is a day, where do you guys have a bunch of <unk> T with how long it is something that's a microdose protected against Veeva contango.

Speaker Change: Better prepare for the future and to strengthen our business capabilities in terms of the OLED business.

Speaker Change: Thank you we'd like to ask you three question, although the CFO gave us a quite good explanation on this I just would like to follow up by asking the external uncertainties does not seem very good so we'd like to understand whether you have made some adjustments to your business trend outlook going forward, particularly in relation to.

Shannon: Second, we

Shannon: You asked a question regarding the sale of the Guangzhou LCD TV subsidiary, and first of all, the details disclosed in the announcement are

Speaker Change: Okay.

Speaker Change: The same month after August.

Speaker Change: Next question please.

Window Kim: Hollywood or with whom we need to ship and then <unk> 2000 <unk>. The following question will be presented by window Kim from IV K investment in securities.

Shannon: The amount is exactly correct. That information is correct, and you can consider that there are almost no changes in that content.

Nikki: To your strategic customers.

Nikki: Second question also with regards your strategic customers there seems to be heightened level of competition amongst the suppliers would like to know whether that is impacting the amount of.

Kim Jong: Please go ahead with your question.

Kim Jong: The <unk> will come from the Dol.

Shannon: And as of April 1st, at CSOT

Kim Jong: Separately done between when a deal that's open to you know a.

Nikki: Volume shipment that you're making to each of these customers or whether you're exposed continuously to any pressures downward pressures on E. S. P. And then the third question is in the second half, we always used to get new products.

A firm discipline, particularly dependent on hitting singles.

Kim Jong: <unk> couturier production from credit on to see how long you can keep which lineup with them they have some money out.

Shannon: I understand that it is currently operating at full capacity. It has been confirmed that it is running very well without any issues.

Kim Jong: So you're going to run in the tundra will get help from stimulus funding interest in young.

Nikki: There was a rumor in the market that the new products will all be based on S. U P. O technology. If that is the case, what good news would that be for LG display.

Shannon: And

Shannon: The sale proceeds are now...

Kim Jong: That will prevent alone okay. So look we'll get calculated into the <unk>.

Speaker Change: According to the schedule

Speaker Change: There was an original payment schedule. According to the payment schedule, the sale proceeds are being paid smoothly, and we are receiving them.

Kim Jong: How can they can bring some of that as well.

Nikki: So don't get called unknown confirmed.

Kim Jong: <unk> got to EBITDA, yet that we aren't going on Oh, gosh I'm Nikki.

Nikki: I'm certainly not russophones knows when jemadar among googling something in front of all of those things on the type of other players and obviously I won't treated them to kill the witness all of them.

Speaker Change: I think you can consider this matter as concluded now. Probably in the first half of the year.

Kim Jong: And on the opposite.

Kim Jong: <unk>.

Kim Jong: Whenever the neurotoxicity grill critical Nighty-night balloon.

Nikki: So a lot of people and how they can win in Tulsa have known well for luxury car audio.

Speaker Change: You can think of it as a significant amount of cash inflow in the middle.

Kim Jong: How long do you do maintenance in the Permian.

Nikki: Okay.

Nikki: This is Harper, who know head all of us.

Of note in the program.

Nikki: Most of us doing it and doing something that times, you can't Quixotic Misapply mill, how long ago that came along.

Kim Jong: With a low loan balance huni Nomura.

Speaker Change: The part that you are most curious about, where we will spend that money, is something that we, the company, will...

Kim Jong: Look it is a day.

Kim Jong: <unk>.

Nikki: Does that mean.

Kim Jong: How long are the microdose on their productivity.

Speaker Change: Hello, I'm in charge of small display I'm responding to your question is yes, there is definitely uncertainties coming out of the tariff related developments.

Kim Jong: Compound.

Kim Jong: Thank you we'd like to ask you three question, although the CFO gave us a quite good explanation on this I just would like to follow up by asking the external uncertainties does not seem very good so we'd like to understand whether you have made some adjustments to your business plan outlook going forward, particularly in relation.

Speaker Change: Rather than concentrating all this money in one place, it seems better for the company to allocate it to urgent needs, future-oriented areas, and current operations.

Speaker Change: But basically the customers at this point to diversifying their production base and so we expect that that multiple companies will continue to pay.

Speaker Change: Pay close attention to how things go going forward in terms of the smartphone business that we engage in a we have very strong capabilities and our strategic position is quite robust. So we are running our business as per our original business plan.

To your strategic customers second question also with regards your strategic customers there seems to be heightened level of competition amongst the suppliers.

Speaker Change: Assuming that everything proceeds without any issues.

Speaker Change: I spoke for too long, but I will continue with the interpretation.

Kim Jong: Whether that is impacting the amount of.

Speaker Change: Having said that there may be downstream market volatility. So we are in close communication with our customer base and we are fully prepared to nimbly respond to changes in the market.

Kim Jong: Volume shipment that youre, making to each of these customers or whether you're exposed continuously to any pressures downward pressures on ASP.

Speaker Change: Yes, and then moving on to the second question about the sale of the entity that we have, the LCD TV plant at Kwang Cho. As per our disclosure that we have previously made, the amount of the sales proceed is the correct amount. There also, you know, there is almost no change to the figure that we had previously disclosed. And we've been informed that as of April , the third CSOT is running that plant at full capacity, meaning that the plant is coming or any running without any significant issues. And in terms of the sales proceed, we are being paid, meaning we are receiving that payment as per the payment schedule. And so with regards to this sales transaction, I can tell you that more or less the whole transaction is now closed. So in the first half of the year, we are looking forward to a meaningful amount of cash in into the company.

Speaker Change: And then the other question is in the second half, we always used to get new product and there was a rumor in the market that the new products will all be based on <unk> technology. If that is the case, what good news would that be for LG.

Speaker Change: So I think home in general due.

Speaker Change: And as always no.

Speaker Change: Okay, you put out and be there because we just didn't talk you can go to and that's all the time, but other than knowing that one 2 million snow to dovetail I'm glad to see them go up from here it sounds like it all to yourself.

Kim Jong: Play.

Carla: Thank you Carla.

Speaker Change: And Jonathan one because I would tell you that.

Kim Jong: Huh.

Kim Jong: Consolidated gross phones management.

Speaker Change: And competition amongst the suppliers and vendors have always existed, but we were able to prove our differentiating points by through timely supply of the products in volume to our customers and also doing making appropriate preparations for upcoming future technologies and through <unk>.

Speaker Change: Among southern who runs all of those things are the type of Altamira I won't treated in particular with its all in.

Speaker Change: So a lot of them how they can win in tons out of nowhere. So luxury you took a harder time to get there and obviously who knows.

Speaker Change: So Moshe Doug It then don't sell any of that.

Speaker Change: Tom I'm going to accumulate.

Speaker Change: <unk>, Costa innovations and strengthening of quality as well as other competitive factors, we were able to expand to the volume that we supply and through as such our commitments, we will effectively respond to competitive landscape.

Speaker Change: Neither.

Speaker Change: Hello, I'm in charge of small display responding to your question is yes, there is definitely uncertainty coming out of the tariff related development.

Speaker Change: The second part, I'm sure you're also interested as to where we will be using this sales proceed. The company's thoughts are that we will not be concentrating the use into one specific area. So we will not be using the whole amount to one certain area. We are mindful of different aspects in terms of urgency of certain business and preparations for the future and the operation. Now based upon the assumption that all of those factors, that there are no issues, we will be making the decision as to where we will invest that amount.

Speaker Change: But basically the customers at this point to diversifying their production base and so we expect that multiple companies will continue to pay.

Speaker Change: How long is okay. So talk to you soon gave at group level, who says.

Speaker Change: Thank you Sue Samsung Gucci brand alone So no debate on what you mean, we don't know.

Speaker Change: Pay close attention to how things go going forward in terms of the smartphone business that we engage in are we.

Speaker Change: You know how long gain and some other things you wont be locked at twin I'm going through all those and then there'd be some pause that at home do we smoothed out.

Speaker Change: Have very strong capabilities and our strategic position is quite robust. So we are running our business as per our original business plan.

Speaker Change: So despite the fact that the first half of the year is usually the slow season. Thanks.

Speaker Change: Thanks to the trust that we have from our customers and our strategic positioning as well as our production capabilities. We expect there to be an year over year increase in volume in the second half of the year, we will continue to see more expansion through their shipment volumes, especially coming out of the new models. So we expect to achieve.

Speaker Change: Having said that there may be downstream market volatility. So we are in close communication with our customer base and we are fully prepared to nimbly respond to changes in the market.

camacho: To summarize, the cash flow related to current operations is sufficiently covered through business activities.

So I think home in general.

camacho: If that happens, the cash flow generated from the sale will be

<unk> been talking about other than knowing that one 2 million hours no Sidoti on groups and welcome Jim something about yourself.

Speaker Change: A y O Y Oh, yeah, well performance that is on par with what we've seen the previous year.

Speaker Change: Some of it will be used for improving the financial structure, and a bit will be allocated to strengthening our business capabilities in the OLED sector.

Speaker Change: Yeah, Tom everyone says remember after August meet up next.

Speaker Change: In terms of LNG Ocado will tell you that I don't either.

Speaker Change: Next question please.

Speaker Change: And competition amongst the suppliers and vendors have always existed, but we were able to prove our differentiating points by the time the supply of the products in volume to our customers and also through making appropriate preparations for upcoming future technologies and through continuous.

Speaker Change: We recognize that investment should be made in future areas where appropriate investment is needed.

Speaker Change: Hammond with him were there to shape and then irons in Gwinnett someone something you knew that the.

Speaker Change: The following question will be presented by one soft young from <unk> Securities. Please go ahead with your question.

camacho: So, let me backtrack on this and just give you a clear message on this. Basically, in terms of the cash flow requirement for our operations, we are able to fund that through the operational activities. So, the sales proceed that we will get the cash flow that will come in. We will use part of it in improving the financial standing and also there may need to be some investment that we make to better prepare for the future and to strengthen our business capabilities in terms of the [inaudible]

Speaker Change: Jim could you guys just couple hundred anytime soon.

Speaker Change: And then I'll get to the Michigan zero sugar nature should activities hobbies from you during the day.

Speaker Change: Cost innovations and strengthening of quality as well as other competitive factors, we were able to expand to the volume that we supply and through such commitments, we will effectively respond to competitive landscape.

Speaker Change: It could be it will be just sort of junior debt as long as all.

Speaker Change: Silver production, assuming an equal.

Speaker Change: At this juncture, we don't do it I'm trying to do in a day.

Speaker Change: It's to give you answer it.

Speaker Change: How long ago is also increasingly demand grew global qualifier Sheila although Q2 things are no known coupon alone. So no debate on what you mean I'm reluctant.

Speaker Change: Allow me to have people shipping up I'm, sorry, I didn't get all of your production strong knows how long it's all the traffic.

Speaker Change: And then just to sneak up on company at all.

Speaker Change: How long gain and some other things you wont be after.

camacho: Yes, I will take the next question.

Speaker Change: So I'm Gonna models, and then there'll be some follow up did I home do we smooth out.

Speaker Change: Thank you for taking my question I just have two very simple questions since you've discontinued U L. C. D. T V business, whether you're a large business I take it that you have to focus on your OLED business, but in light of the answer to Ts and the demand and the fact that the high end market segment.

Speaker Change: The next question will be from Mr. Kim Eun-ho of IBK Investment & Securities.

Speaker Change: So despite the fact that the first half of the year is usually the slow season. Thanks.

Speaker Change: Thanks to the trust that we have from our customers and our strategic positioning as well as our production capabilities. We expect there to be an year over year increase in volume and the second half of the year. We will continue to see more expansion through their shipment volumes, especially coming out of the new models. So we expect to achieve.

Speaker Change: Thank you for giving me the opportunity to ask questions. I have about three questions. First, regarding external uncertainties, it seems like the situation is not very good. I'm curious about what changes there might be in the outlook for existing businesses. Of course, I would appreciate it if you could explain this focusing on strategic customer businesses. Secondly, there is a question related to strategic customers. It is heard that competition among suppliers is intensifying. I would like to know if there are any changes in volume, pricing, or pressure due to this. Please explain this part. Lastly, new products are released every year in the second half, so they will be released this year as well. There are rumors that it will be released as a short LTPO model. If this happens, what good things might happen to our company? Please explain this situation as the last point. Thank you.

Speaker Change: That is correct and you start then we'd like to understand what strategies do you have in place.

Speaker Change: Second question is that on top of the tariffs as well as uncertainties in the market I would like to know as to whether that drove any changes to your overall shipment plan.

Speaker Change: A y O y.

Well performance that is on par with what we've seen the previous year.

Speaker Change: Yes.

Speaker Change: Okay got it I'm done keeps on giving me the.

Tom: Yes, Tom So I want to remember through August mid up next.

Damien: It's helping to put us in good is monzo Mr. Damien.

Speaker Change: Next question please.

Damien: <unk> to me seems album Young she is well on its own.

Speaker Change: And with him were there to shape and then I am going is when something in either.

Damien: Two Trudeau and I know somebody asked him as producers who question on sugar in Kuwait.

Speaker Change: The following question will be presented by once off John from <unk> Securities. Please go ahead with your question.

Damien: Okay.

Damien: So you can pick sizes, we didnt doing his job as a permitted on Google and portfolio.

Speaker Change: Jim just 170 <unk>.

Damien: However, we pool funds for them.

Speaker Change: Jim will now go to the.

Speaker Change: The Michigan deal Chicken AJ should activities hobbies were muted in the day.

Damien: To him because he's okay on wound.

Damien: My phone.

Speaker Change: Related to the retail business, so the junior debt as long as all onshore.

Damien: So I wonder if you guys have some call positive she got as far as with little to no injuries.

Speaker Change: Silver production coming in.

Oh, hi, ambition from down to Jim's answer during the day.

Kim Jong: Yes. My name is Kim Jong don't kind VP in charge of large display I would take your first question on the profitability side basically I can divide that into two pillars.

Gentlemen, I'll give you answer it.

Speaker Change: So then if I understand you already proxy strong knows how long it's al.

Speaker Change: Thank you. I would like to ask you three questions, although the CFL gave us a quite good explanation on this. I just would like to follow up by asking the external uncertainty. Stop not seeing very good. So I would like to understand whether you have made some adjustment into your business plan. Outlook going forward and particularly in relation to your strategic customers. Second question also regards your strategic customers. There seems to be heightened level of competition amongst the suppliers. We would like to know whether that is impacting the amount of volume shipment that you are making to each of these customers or whether you are exposed continuously to any pressure, downward pressures on ASP. And then the third question is, in the second half, we always used to get new products. There's a rumor in the market that the new products will all be based on LTPO technology. If that is the case, what good news would that be for LG Display?

Speaker Change: Colorado, Utah or some stability.

Speaker Change: Conference.

Kim Jong: We operate our business under a profit centric operational stance and it's made up of two pillars first in terms of responding to what the customers need and we are focusing on providing a differentiated product portfolio that has distinct product specifications as well as sizes. So by strengthening the portfolio will be responding to the need.

Thank you for taking my question I just have two very simple questions.

Speaker Change: Since you discontinued your LCD TV business for your large business I take it that you have to focus on your OLED business, but in light of the uncertainties in the demand and the fact that the high end market segment is currently stagnant, we'd like to understand what strategies you have in place.

Kim Jong: And the second pillar has to do with an ever stringent cost savings effort. So do these two approaches we are committed to stay in line with the plan Oh two towards the objective of enhancing that business performance.

Speaker Change: Second question is that on top of the tariffs as well as uncertainties in the market I would like to know as to whether that drove any changes to your overall shipment plan.

Speaker Change: That ends our call.

Kim Jong: Through its honeymoon Hudson does are you going to do it.

Speaker Change: And then can you just give me the.

Kim Jong: It should be to be solved.

Speaker Change: Talking to Tim was asking earlier this month, most smooth at immune <unk>.

Kim Jong: I thought I saw that.

Kim Jong: However in my notes from the corridor.

Speaker Change: <unk> seen some machine sub Williams is on its own.

Kim Jong: Now I'll move on now.

Speaker Change: Good evening.

Kim Jong: Sure.

Speaker Change: To tool and I know some biosimilars producers who question Huntsville.

Nikki: This is Baek Soon-yong from the Small Planning Group.

Kim Jong: Lithosol Boon more someone's isn't until you got she's only producing you Seneca she's really.

Nikki: There is certainly uncertainty due to tariffs. However, client companies are primarily responding by diversifying production locations and are observing future developments.

Speaker Change: Okay.

Speaker Change: You can speak.

Speaker Change: Xu Lei Didnt doing as tabulate, the permit and improving portfolio.

Kim Jong: <unk> what are your operations Kip harder when you own hub will cause that mcfarland in lung cancer heart door, some though kind of them because they are shooting to really cool.

Nikki: In the case of the smartphone business, the company's capabilities and strategic maintenance are strengthened. The business is operated without significant changes as originally planned.

Speaker Change: Recall.

Speaker Change: Once again <unk>.

Speaker Change: Because it is okay.

Speaker Change: Hi, Tom.

Kim Jong: Two minutes, they went to an <unk> could get through I wish them luck on one hubbell.

Speaker Change: <unk> ISR.

Nikki: We aim to closely communicate with our clients to address the variability of the forward market and respond to changes in the situation against Kim In-wang.

Speaker Change: I Wonder if you guys have some.

Speaker Change: <unk>.

Kim Jong: There was an issue I'm still going to take all of the multiple hobbies or so.

Speaker Change: First with total injuries.

Speaker Change: Yes, My name is Kim Jong Doug I'm VP in charge of large display I will take your first question on the profitability side basically I can divide that into two pillars.

Speaker Change: Hello, I'm in charge of small display responding to your question. Yes, there is definitely uncertainties coming out of the tariff-related developments, but basically the customers at this point diversifying their production base. And so we expect that multiple companies will continue to pay close attention to how things go going forward. In terms of the smartphone business that we engage in, we have very strong capabilities and our strategic position is quite robust, so we are running our business as per our original business plan. But having said that, there may be downstream market volatility, so we are in close communication with our customer base and we are fully prepared to nimbly respond to changes and the market.

Speaker Change: Oh good.

Kim Jong: So could you.

Kim Jong: She talked a little Guy and I always give you keep them on in June.

Kim Jong: Switching gears a little dull.

Kim Jong: Rather than some young it took some time in a while you didnt young taking some time to assume some quota.

Speaker Change: We operate our business under a profit centric operational status and it's made up of two pillars first in terms of responding to what the customers need it.

Kim Jong: Oh, okay.

Kim Jong: Ah witness harmed.

Kim Jong: And the second part of the question, Yes, and we've decided to discontinue the LCD business, which means that in our large panel OLED business, we will focus our efforts to further enhance and notch up that business and things are going as planned. So looking overall at our large panel OLED business because of the.

Speaker Change: We are focusing and providing a differentiated product portfolio that has distinct product specifications as well as sizes. So by strengthening the portfolio will be responding to the need and the second pillar has to do with an ever stringent cost savings effort. So do these two approaches we are committed to stay.

Kim Jong: Uncertainties in the market we have linked the we have linked actual demand of the market onto the capacity the operation the operating capacity of our business and also we've taken cost cutting activities to the extreme that's the second part and third we strengthened our cooperation with the global <unk>.

Speaker Change: In line with the plan.

Speaker Change: Towards the objective of enhancing the business' performance.

Speaker Change: Through its honeymoon Hudson.

Speaker Change: The issue the Tv's hover.

Speaker Change: Competition in the supply chain has always existed. We are proving our differentiated capabilities by preparing future technologies needed by customers and supplying them in a timely manner. We plan to effectively respond to competitive situations by expanding volume through continuous cost innovation, quality, and strengthening competitiveness.

Speaker Change: So it's all good.

Speaker Change: However, a monotone lucado goodnight.

Speaker Change: Good night.

Speaker Change: Characters and injuries.

Kim Jong: Customer base and fourth we have expanded and differentiated LG displays maybe distinctive products such as OLED monitors to do these different effort. We are really strengthening our earnings structure. So from the mid to longer term perspective, we're seeking to drive growth in terms of volume, which will end.

Speaker Change: Sure.

Speaker Change: Hey, I wanted to just have one more.

Speaker Change: So coincident Antigua xizang, producing you silica shoes.

Speaker Change: and competition amongst the suppliers and vendors have always existed, but we were able to prove our differentiating points by the timely supply of the products and volume to customers and also through making appropriate preparations for upcoming future technologies. And through continuous cost innovations and strengthening of quality as well as other competitive factors, we were able to expand to the volume that we supply and through such commitments, we will effectively respond to competitive plans.

Speaker Change: On.

Speaker Change: The operation kept cutover, we know on Hugo good.

Speaker Change: And then one customer has door, some though kind of odd because there are two things really cool.

Kim Jong: Should bring us a steady performance.

Speaker Change: 10 minutes every once in a global who get through.

Kim Jong: Got it.

Speaker Change: I wish them luck on one hubbell.

Kim Jong: Literature pool, one Robert you talked to who we thought was even though you might be doing this high angle. She's on this with US and number two is homey and as you can position you're doing an Italian me, though Chris.

Speaker Change: <unk> take all of the multiple hobbies or so.

Speaker Change: Javier.

So <unk> just talked a little.

Speaker Change: I always keep you keep them on in June.

Kim Jong: So that's in the shipyard with your tongue conjuncture miner and she's going to go to Oklahoma, though Tom can give you some amount of SMB wait two months.

Unreasonable at all.

Speaker Change: And so it took some time you know what you're doing.

Speaker Change: So again some twist.

Kim Jong: I'll, let it go how do women consuming covered until you can put panels.

Speaker Change: Despite the seasonal off-peak in the first half, a significant increase in volume compared to the previous year is expected based on the trust of our clients, our technology, and production capacity. In the second half, an expansion in volume centered around new models is anticipated, leading to an overall performance increase compared to the previous year.

Speaker Change: Some quarter some quarters.

Kim Jong: It is the high end this younger so pushing the collage withdrawal I guess.

Speaker Change: Gary how witness hybrid.

Speaker Change: And the second part of the question, Yes, and we've decided to discontinue the LCD business, which means that in our large panel OLED business, we will focus our efforts to further enhance and notch up that business and things are going as planned. So looking overall at our large panel OLED business because of the.

Kim Jong: So OLED is actually at the top of the product lineup at the top tier customers and OLED itself has I talked to your positioning in the market. We do expect that there will continue to be competition against L. L. C D, but underpinned by the very distinctive value that only I'll, let Kent.

Speaker Change: <unk> uncertainties in the market we have linked the.

Kim Jong: Oh, we are committed to strengthening.

Speaker Change: We have linked actual demand of the market.

Kim Jong: Its positioning in the high end segment of the market.

Speaker Change: Two the capacity the operation the operating capacity of our business and also we've taken cost cutting activities to the extreme that's the second part and third we have strengthened our cooperation with the global customer base and fourth we have expanded and differentiated LG displays maybe distinctive products such as.

Kim Jong: Through consistent wounds existing clients they wanted and the improvement in absolute shift focus with some stimulate some buzzing simulated countries how long ago T V.

Kim Jong: Just a quick one season to the gigahertz on redeploying at them and hold a 70, something you said two months.

Speaker Change: Yes, let's move on to the third question.

Kim Jong: And so essentially the T V's hobbies, just considering young at the humble bundle down since I know, sometimes they get opened on a highway Smith.

Speaker Change: OLED monitors so do these different effort, we are really strengthening our earnings structure. So from the mid to longer term perspective, we're seeking to drive growth in terms of volume, which will in should bring us a steady performance.

Speaker Change: The next question will be from Mr. Jeong Wan-seong of IM Securities.

Kim Jong: How's your Mic, Hawaii and I was wondering if that also.

Kim Jong: The cause of a continent.

Kim Jong: To lead the industry and when that changes how long isn't until you couldn't Congo.

Kim Jong: I don't know how close you throw two centered a little hug isn't it.

Speaker Change: Yes, thank you for allowing me to ask questions. I have two simple questions. Recently, the LCD TV business has ended, and in a situation where we need to focus on large-scale business with OLED TVs, there is uncertainty in demand and the growth of the high-end market is somewhat stagnant. I'm curious about the strategy to address this. Also, in the recent situation with various uncertainties such as tariffs, I would like to know if there are any changes in the plans for this year. Thank you.

Speaker Change: Google literature coupon Gilbert <unk> be doing this high school.

Kim Jong: Okay.

Speaker Change: Regarding your question on tariffs our CFO has provided you with the overview of the high level explanation regarding terrorists, but with respect to the changes and end in the tariff policies that.

Speaker Change: So question number two is how many as you can position Youre doing is telling me though.

Tom: That's in the shipyard congestion miner, and Schlumberger, Oklahoma, though Tom can give you some money to some degree it two months.

That hinges on the T V said, there's been some mixed impact, but I can tell you that for now in terms of the large panel business. The T V such business they impact us at this point, we believe is quite limited, but going forward subject to how the tariff policies actually going to play out into the future the entities that would that would be impacted.

Tom: I'll, let it I'll casually and consuming hovered in Bellevue and pattern what is the high end this younger so pushing the collage withdrawal.

Tom: So <unk> is actually at the top of the product lineup at the top tier customers and OLED itself has a top tier positioning in the market.

Speaker Change: Thank you for taking my question. I just have two very simple questions. Since you've discontinued your LCD TV business for your large business, I take it that you have to focus on your OLED business, but in light of the uncertainties and the demand and the fact that the high-end market segment is currently stagnant would like to understand what strategies you have in place. [inaudible]

Tom: We do expect that there will continue to be competition against Akshay LCD, but underpinned by the very distinctive value that only OLED can offer.

Speaker Change: The set makers. So we are committed to doing our best to make sure that we secure our flexibility in terms of supply against our customers.

Tom: We are committed to strengthening it.

Speaker Change: The time to remember through August.

Tom: <unk> positioning in the high end segment of the market.

Speaker Change: We'll take the next question.

Tom: Through two lenses in wounds, we showed sequential improvement in absolute shift focus with some stimulus and bundling stimulate car today is how long ago television set.

Speaker Change: The second question is that on top of the tariffs, as well as on certainties, in the market, I would like to know as to whether that drove any changes to your overall shipment plan.

Speaker Change: Yeah.

Speaker Change: And we'll go to Matt as you say, perhaps Jonathan when they can this one.

Speaker Change: The following question will be presented by sung Kim from Q1 Securities.

Tom: Consistent to the gigahertz on redeploying RPM and wholesale at obesity months.

Speaker Change: This is Kim Jong-deuk, in charge of business planning and management for backstroke.

Speaker Change: Please go ahead with your question.

Speaker Change: Yeah, No I'd say no to engage I saw that in the bathroom and I keep it at around 19, especially today, that's only about 10.

Damien: Regarding the first question you asked, I would like to say that large-scale projects are currently being operated with a focus on profitability.

Tom: So curious how basis considering younger they are moving around and denizen John did get opined on highway Smith.

Speaker Change: Kevin as I kept my children actually selling them, so they're going they're telling Dale tiny tiny siobhan young I pick up particularly ones that are talking to a mall locations you announced definition, we got to stay to one thing in toys.

Tom: And I was wondering if that is all.

Damien: I can explain it by dividing it into two axes. One axis is focusing on our portfolio capabilities for differentiated products in terms of product specifications and sizes for customer flights.

Tom: Total continent set initially at the moment.

Tom: Just wondering isn't until you can Google again, hoping to you guys.

Speaker Change: Chicken is having pan out because they're too high too much other than just putting out yesterday. So I was wondering how that kind of assume that tiger.

Tom: How close you put I'll turn it a little harder.

Tom: Yeah.

Damien: In addition, we are further strengthening our ongoing cost reduction activities to ensure that we achieve our planned business results for this year without any setbacks.

Regarding your question on tariffs.

Speaker Change: I am sorry, it's all kind of annoying attention in triaging that she's focused on polyethylene, it's tough, particularly all well what else what else you need to spend on your eye tissue. Yeah. It's all took so long I heard all kicked off when I started out by some stuff.

Speaker Change: <unk> has provided you with the overview of the high level explanation regarding tariffs.

Speaker Change: But with respect to the changes and the tariff policies.

Kim Jong: Yes, my name is Kim Jong-Dok, I'm VP in charge of large display. I will take your first question on the profitability side. Basically, I can divide that into two pillars. We operate our business under a profit-centric operational stance and it's made up of two pillars first. In terms of responding to what the customers need, we are focusing and providing a differentiated product portfolio that has distinct product specifications as well as sizes. So, by strengthening the portfolio, we will be responding to the need and the second pillar has to do with an ever stringent cost savings effort. So, through these two approaches, we are committed to stay in line with the plan towards the objective of enhancing the business performance.

Speaker Change: That hinges on the television said, there's been some mixed impact, but I can tell you that for now in terms of the large panel business. The TV business. The impact at this point, we believe is quite limited.

Speaker Change: Uh huh.

Speaker Change: I will ask two questions on your I T panel business the demand for panels and the uncertainties is continuing in to assisting so what is your outlook for the I T product demand by each different product segment for 2025 second question is I'm not just LG display but your P.

Speaker Change: But going forward subject to how the tariff policies actually going to play out into the future. The entities that would that would be impacted or the set makers. So we are committed to doing our best to make sure that we secure our flexibility in terms of supply against our customers.

Speaker Change: Peers have all been able to up their technology technology standards. So the standard yourself has become very elevated so how do you differentiate yourself in the market. How can you continue to sustain your competitiveness in the high end segment of the I T like it and also.

Speaker Change: The Thompson member through August Linda.

Speaker Change: We'll take the next question.

Speaker Change: Do you have a good to.

Speaker Change: It goes to the I T. L. C. D efficiency are planning what are some of the ways for you to improve on your profitability as you go forward.

Speaker Change: Pamela to my answer to your positions in <unk> and that the following question will be presented by sung Kim from <unk> Securities.

Kim Jong: As you asked, with the termination of our LCD TV business, we are proceeding with plans to further enhance our large OLED business. Currently, for the large OLED business, first, due to market uncertainties, we are operating our Operation Kepa based on actual demand.

Speaker Change: Please go ahead with your question.

Speaker Change: Two home care cause him to understand me, though what I'm trickle coaches, who you'll meet intentionally not doing high end up Youtube Hulu and all screen in conjunction with your book interest or not.

Speaker Change: And as you know Tim engages all of them.

Speaker Change: <unk>.

Speaker Change: Well, <unk> chip and materials actually selling and shipping with no tolling Dale joining any tonnage ammonia, particularly with general buckets of my obligations you announced today does that one thing then toys man chicken autonomy Palo Alto <unk> chartered them interestingly not just today.

Speaker Change: And then we will get one simple way of knowing what the crude oil plus the time youre doing that children.

Speaker Change: Are you still sort of winter, then pudong Italian stuff.

Kim Jong: Next, we are conducting more extreme cost reduction activities related to cost savings, and from the customer perspective, the third is strengthening cooperation with global customers. Fourth, recently, in our OLED monitor business, we are continuously strengthening our profit structure through differentiation and expansion. Therefore, in the medium to long term, we are planning to achieve stable results through additional quantitative growth or such quantitative growth.

Speaker Change: One simple way of law on central when do I thought also to put them built jaco low hanging out what do you mean that today of course, we hope.

Speaker Change: Hi, Guy and the story is all kind of ignoring the Jensen is Haryana.

Speaker Change: So amongst young as when those when I talk to some it all still as long as it doesn't tie missile jumped up.

Speaker Change: As long time isn't it particularly well.

Speaker Change: I was always intended for long lead items. She gears, how shall I heard okay talking about having watched I've got a question from today is from Utah.

Speaker Change: Yes, I am unusual I'm in charge of medium display in responding to your question. Originally we were looking forward to some positive impact coming from the replacement demand and the discontinuation of Windows 10 mm, having eight and triggering might get demand and the high end as well as to be to be my guess.

Speaker Change: Jeremy.

I will ask two questions on your panel business the demand for panels and the uncertainties is continuing and persisting. So what is your outlook for the <unk> product demand by each different products segment full year 2025 second question is not just LG display but.

Kim Jong: And the second point of the question, yes, and we've decided to just continue the LCD business, which means that in our large panel, OLED business, we will focus our efforts to further enhance and notch up that business and things are going as planned. So looking overall at our large panel OLED business, because of the existing uncertainties in the market, we have linked the we have linked actual demand of the market on to the capacity, the operation, the operating capacity. Of our business, and also we've taken costs, cutting activities to the extreme, that's the second part, and third, we've strengthened our cooperation with the global customer base. And fourth, we have expanded and differentiated LG display, very distinctive products, such as OLED monitors. So through these different efforts, we are really strengthening our earnings structures, so from the mid to longer term perspective, we're seeking to drive growth in terms of volume, which will bring us a steady performance.

Speaker Change: But at this point with the talk of the reciprocal tariff that will be imposed by the U S and with the prolongation of the macroeconomic uncertainties, we do need to closely and continuously monitor how the demand dynamic changes as we go into the future. So depending on the decision on the imposition of the tariffs.

Speaker Change: Your peers have all been able to up their technology technology standards. So the standard itself has become very elevated so how do you differentiate yourself in the market. How can you continue to sustain your competitiveness in the high end segment of the I T like it.

Speaker Change: By different countries and the extent of etch terrorists, they actual impact could surface and a desk quite differently, depending on which product segment, you were talking about and depending on different geographies. So there are potential for continuous volatility to emerge in the down what downstream market. So we are committed to very good.

Speaker Change: And also.

Speaker Change: Do you have.

Speaker Change: With regards to the I T LCD efficiency planning what are some of the ways for you to improve on your profitability as you go forward.

Speaker Change: Two young carefully them don't understand me, though.

Speaker Change: Just in terms of not doing high end or to be sort of tunnel and in conjunction with.

Speaker Change: They are communicating with our customers in regards to the market situation and respond accordingly.

Dave I missed this or not and then we will get <unk> crude oil plus some new auto and their children.

Speaker Change: So just wondering that appears to predict which I said the oxide.

Speaker Change: She took you through well Cui, though towards the low tens of millions it jumped so much in tandem or religious so tougher than she is really going to play out with some thought about something at all I would say.

Speaker Change: Is it still sort of going to the Exelon times, though.

Speaker Change: How long haul.

Speaker Change: One simple way of law until when do I thought also to Palmdale Joker low hanging out what do you mean that telcos.

Kim Jong: And now, the final OLED product is lined up with our global top-tier customers and is positioned at the top in the market as you know. So, while we expect competition with LCDs now and in the future, we will strengthen our position in the high-end market based on the differentiated value that OLEDs offer.

Speaker Change: No no go low.

Speaker Change: So put them put the political women so I'm wondering how.

Speaker Change: Yeah.

Speaker Change: I will jump at them.

Speaker Change: So amongst young it when those without pass through some model still as long as it were quasi municipal Tom Herzog.

Speaker Change: So we have technological edge in terms of high end LCD technology that includes the Ips Black and next generation oxide technology as well as in tandem OLED, that's known for high luminance low power and long life and underpinned by these technological strength, we are able to offer the most.

Speaker Change: Hum.

Speaker Change: Yes, I am.

Speaker Change: Unusual charges medium display at responding to your question. Originally we were looking forward to some positive impact coming from the replacement demand and the discontinuation of Windows 10 halves.

Kim Jong: So OLED is actually at the top of the product line up at the top tier customers and OLED itself has a top tier positioning in the market. We do expect that there will continue to be competition against LCD, but underpinned by the very distinctive value that only OLED can offer our, we are committed to strengthening its positioning in the high end segment of the market.

Speaker Change: Optimized portfolio the best fits the needs of the customer for each of the product segments and that's just the way in which we respond to competition.

Speaker Change: Having eight and triggering market demand and the high end as well as to be to the market, but at this point with the talk of the reciprocal tariff that will be imposed by the U S and with the prolongation of the macroeconomic uncertainties, we do need to closely and continuously monitor how the demand dynamic changes.

Speaker Change: And you'll get a little do you I should have little little windows, when do I need to model it with some thought how's that.

Speaker Change: Total solutions.

Dan: Dan will literally student hopefully I'm, giving you a little color.

Speaker Change: These calls through tomorrow, we sometimes you don't.

As we go into the future so depending on the decision on the imposition of the tariffs by different countries and the extent of that tariff they actual impact could surface and are quite differently, depending on which product segment, you were talking about and depending on different geographies.

Speaker Change: Okay.

Speaker Change: I understand on something that has been the top till when.

Kim Jong: Regarding the second question about tariffs, the CFO has already provided a comprehensive explanation. Although there was some confusion due to short-term changes in tariff policies from the perspective of TV sets, we currently assess that the impact of tariffs on the TV business in large-scale operations is limited. However, depending on future changes, since tariffs are ultimately an issue for set manufacturers, we will do our best to ensure flexibility in supply with our customers under the current circumstances.

Speaker Change: When she meant something else will get you went through them to.

Speaker Change: How are you comfortable to talk about soon.

Speaker Change: Now going forward, our forecast is that there would be growth from the OLED monitor it might get on top of the AIP secrets in the mid to longer term perspective, and hence we believe that our capabilities in the mid to large OLED, especially on high picture quality and low power.

Speaker Change: There are potential for continuous volatility to emerge in the down what downstream market. So we are committed to very closely communicating with our customers in regards to the market situation and respond accordingly.

Speaker Change: Our.

Speaker Change: Just wondering that appears to predict which I said were excited at the high end.

Speaker Change: Our competitiveness will be further solidified as we move into the future so by bringing such differentiated technologies to ban on all the products that we offered we are we'll be able to continuously leads the market as we have a very solid base of tier one customer base and that really works to our.

Speaker Change: Well, we do it towards the low tens of millions it jumped so much in tandem with lithia, so tougher than consumable player with symptom.

Speaker Change: Regarding your question on tariff, RCFO has provided you with the overview or the high level explanation regarding tariff. But with respect to the changes and in the tariff policy that hinges on the TV set, there's been some mixed impact. But I can tell you that for now in terms of the large panel business, the TV sets business, the impact at this point we believe is quite limited. But going forward, subject to how the tariff policy is actually going to play out into the future, the entities that would probably be impacted are the set makers. So we are committed to doing our best to make sure that we secure flexibility in terms of supply against our customers.

What about some rule of.

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Speaker Change: Put the priority of women. So I'm wondering if you I will jump on them.

Speaker Change: <unk> advantage.

Speaker Change: So we have technological edge in terms of high end LCD technology that includes the Ips plug in next generation oxide technology as well as in tandem OLED.

Speaker Change: I T O. So a bundle of content from the west Schmutter away two months or so.

Speaker Change: A little put on clay Ocean, knowing who the top tier which when she met with no problems.

Speaker Change: As you have other plans I'm going to walk through someone else because they didn't have all that all the time, though.

Speaker Change: Is known for high luminance, low power and long life and underpinned by these technological strength, we are able to offer the most optimized portfolio that best fits the needs of the customer for each of the product segments and that is the way in which we respond to competition.

Speaker Change: So across the entire I T. A segment the level of competition between and amongst the panel providers is becoming more fierce.

Uh huh.

Speaker Change: Very stringent cost innovation as well as operational achievement of operational efficiencies and really focusing on our top tier customer base and strengthening the partnership that we have we were continuously and gradually notch up our profitability.

Speaker Change: And you'll get a little do you share the brutal winter just wondering into model with some of that.

Speaker Change: Yes, I will take the next question.

Speaker Change: What is the total solution.

Speaker Change: And then we'll look at student lending.

Speaker Change: We'll take the next question.

Speaker Change: She is closer tomorrow with some of the.

Speaker Change: The following question will be presented by Sung Kim from Kiwam Securities. Please go ahead with your question.

Speaker Change: Yeah.

Speaker Change: Hi, This is Jim I was wondering that also in the top tier.

Speaker Change: Oh, I'm going to turn them on their top hot cool about stroke I guess to me that we would take the final question before we close.

Speaker Change: Can we assume it's something that we will get you one.

Speaker Change: To help you control the phone calls with them.

Speaker Change: Going forward our.

Jong Union: Well now go to with him when I answered when their U B S. Yeah, you enjoy them you need me to the last question will be presented by Jong Union from UBS. Please go ahead with your question.

Speaker Change: Hello. Thank you for your question. I have two questions regarding the IT panel. The uncertainty in demand for IT products continues to persist recently. Could you please explain how you foresee the demand for each IT product category in 2025? Secondly, not only us but also other panel companies have been reducing IT OLED shipments recently, indicating a trend of product or technology convergence. Could you share strategies or plans for improving profitability that would help us maintain competitiveness in the high-end market? Additionally, if possible, could you share any plans for downsizing or optimizing the IT LCD business, not just LCD TVs? Thank you.

Speaker Change: Our forecast is that there would be growth from the OLED monitor market on top of the AIP see growth from a mid to longer term perspective, and hence we believe that our capabilities in the mid to large OLED, especially on high picture quality and low power solutions are.

Jong Union: Nah asthma Kidman cases, all comes on me at all so no too quiet engine windows that English now auto display stung pengxi between junket among more skipped borgata human G. Critical U S holiday display or post holiday junkies hometown be tweaked some printed automotive kids, how much energy when you put up that he gets from Utah.

Speaker Change: Our competitiveness will be further solidified as we move into the future so by bringing such differentiated technologies to bear on the products that we offered we will be able to continuously leads the market as we have a very solid base of tier one customer base and that really works to our.

Speaker Change: Thank you for taking my question. My question relates to your auto business can you provide us some color on what your take is for your short term and mid to longer term outlook for your auto business and also what's the forecast for LG displays auto business growth and profitability going forward.

Speaker Change: <unk> advantage.

Speaker Change: No Tom under order to when Jim was smarter each month.

Speaker Change: I will ask two questions on your IT panel business. The demand for IT panels and the uncertainties is continuing and persisting. So, what is your outlook for the IT product demand by each different product segment for year 2025? Second question is, not just LG Display, but your peers have all been able to up their technology standards. So, the standards itself has become very elevated. So, how do you differentiate yourself and the market? How can you continue to sustain your competitiveness in the high end segment of the IT market? And also, do you have, you know, regards to the IT LCD efficiency planning. What are some of the ways for you to improve on your profitability as you go forward?

Speaker Change: Congress will put on production.

Speaker Change: Top tier, which we should very well known.

Speaker Change: As you have other plans I'll go to someone else because they didn't have that all done.

Speaker Change: Notable bucket things like when do you I guess I'm going to Oh bundling some of them pumped into again a bolt on deal.

Speaker Change: So across the entire.

Speaker Change: Segment, the level of competition between and amongst the panel providers is becoming more fierce however through very stringent cost innovation as well as operational achievement of operational efficiencies and really focusing on top tier customer base and strengthening the partnership that we have we will continue.

Speaker Change: What are you supposed to know what theyre going to oppose things gone quiet say sure. So I'm going to ask I'm going to now look a bigger worry about sometimes you put it into niche at all what it is.

Speaker Change: The old trucks went to Standalone control mandate or the Mcgee auto Saar wound depends on it within the.

Speaker Change: I'm I'm, putting it on your own with discipline in Homegoods Hogwood. They don't tell you if I'm gone up she told them is all it's about 100 onto them you'd argue Simmons ocado.

Speaker Change: And gradually notch up.

Speaker Change: Profitability.

Speaker Change: Yeah.

Speaker Change: Cool.

Speaker Change: But I think I'm going to I'm going to turn them on their top our call that we would take the final question before we close.

Speaker Change: So that's the piece that we should do all bullish Dunkin' balloon should go comes on of course, what all you can't always do that.

Speaker Change: That's how I am so in Q1 on V. P. In charge of auto marketing. If you look at the greater auto market. We are in the and the the gradual recovery phase, but because there are certain issues that have noon to emerge such as the tariff issue as well as the slowing of the E V grows and the Oems in Europe.

Speaker Change: This concludes Joo Young-jin's News Briefing.

Speaker Change: But I agree with you won't answer CFO Nick <unk>.

Speaker Change: Last question will be presented by John Kim <unk> from UBS. Please go ahead with your question.

Speaker Change: As much demand catches all comes Amit I'll turn over to Sal quiet engine monetary, which now auto display stung it hadn't geek between junket on knowledge more skipped mortgage med D. Critical you also LG display or to Sal de <unk> hometown. It took some time to go to market. So much synergy when you pick up that you get from either.

Speaker Change: U S I've been experiencing quite a bit of stagnation because of all these factors. This year, we expect that it would be quite difficult for the overall auto market to report more than 19 million units.

Speaker Change: Depending on whether countries impose mutual tariffs and the extent of those tariffs in the future, different trends are expected to emerge for each product and region.

Speaker Change: There may be volatility in the forward market, so we intend to respond to changes by closely communicating with our customers about the market situation.

Speaker Change: Units of vehicles, but having said that Fortunately if you look at in vehicle display regardless of whether a car is an E V or I see we see a per vehicle basis. The percent of adoption of such displays is increasing and we see accelerated speed of shifts to a larger panels and so we are looking forward to.

Speaker Change: Thank you for taking my question. My question relates to your auto business can you provide us some color on what your take is for your short term and mid to longer term outlook for your auto business and also what's the forecast for LG displays auto business growth and profitability going forward.

Speaker Change: Yes, I am Annushin. I am in charge of medium display, responding to your question. Originally, we were looking forward to some positive impact coming from the replacement demand and the discontinuation of window 10, having a triggering market demand in the high end as well as the B2B market. But at this point, with a talk of the reciprocal tariffs that will be imposed by the US and with the prolongation of the macroeconomic uncertainties, we do need to closely and continuously monitor how the demand dynamic changes as we go into the future. So depending on the decision on the imposition of the tariffs by different countries and the extent of that tariff, the actual impact could surface in a quite differently depending on which product segment we're talking about and depending on different geographies.

Speaker Change: Gross continuous growth this year of L. T P S LCD and OLED.

Speaker Change: Notable bucket from Columbia, I guess I'm going there.

Speaker Change: So what is the long term.

Speaker Change: Now with all of them and there's just no new it's an out of home and garden.

Speaker Change: Continental.

Speaker Change: So tomorrow.

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Speaker Change: Conclusive food with hung on Okamoto at home doing a cool summer.

Speaker Change: So on Google home with some known gun. He was answering that I'm doing a dog as homes Young group work was a little kid dealt with through the so you've got home gyms have that'd be part of it just says she threw it helps on on his hunger was cool.

Speaker Change: People are worried about on target with Jillian diminished rule, what are they going to Atlanta Standalone control mandate auto.

Speaker Change: The Pandora listening.

Speaker Change: I'm, having a total enrollment is playing in homegoods how good they are.

Speaker Change: This is due to coupon the rule and don't go against homes on he was hungry Lisa.

Speaker Change: I'm, sorry, if I'm going to shoot some of them also.

Speaker Change: 100 long term you'd argue Simmons.

Speaker Change: So the auto business is 'twenty 'twenty for the past four years it posted a growth on a CAGR basis of around 10% over the past four years. So from a mid to longer term perspective going forward at least for three years to come we're expecting a steady growth.

Speaker Change: Okay got it.

Speaker Change: Great.

Speaker Change: Oh, okay.

Speaker Change: Sure.

Speaker Change: I'm from Milan, <unk> with some of that.

Speaker Change: <unk> VP in charge of auto marketing if you look at the greater auto market, we are in the and the the gradual recovery phase.

Speaker Change: Trend and compared to our peers and competitors, we were successful in transitioning to a L. T. P. S. L. C D and supported by large scale OLED orders that we hadn't expect and project that to be steady growth.

Speaker Change: There are certain issues that have emerged such as the tariff issue as well as the slowing of the EV growth and the Oems in Europe and U S have been experiencing quite a bit of stagnation because of all these factors. This year, we expect that it would be quite difficult for the overall auto market to report more than 19.

Speaker Change: And the asset possesses differentiated technological capabilities in high-end LCD technologies such as IPS Black and next-generation oxide, as well as tandem OLED, which has the advantages of high brightness, low power consumption, and long lifespan. Based on this, we aim to respond to competition by providing a portfolio optimized to meet customer needs in each product area.

Speaker Change: Yeah.

Speaker Change: I can't tell you we're living in Europe will go goes out or what you're doing.

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Speaker Change: Oh no no.

Speaker Change: I want to let the truth I mean everybody's long term guidepost.

Speaker Change: Units of vehicles, but having said that Fortunately if you look at in vehicle display regardless of whether a car is an EV or IC, we see a per vehicle basis. The percent of adoption of such displays is increasing and we see accelerated speed of shift to a larger panels and so.

Speaker Change: So, we have technological edge in terms of high-end LCD technology that includes the IPS Black and next-generation oxide technology as well as in tandem OLED that's known for high luminance, low power, and long life. And underpinned by these technological strength, we are able to offer the most optimized portfolio that best fits the needs of the customer for each of the product segments. And that is the way in which we respond to competition.

Speaker Change: Uh huh.

Speaker Change: I'll put a dual philosophy this flu switch over the prior Bush and don't get a ton of Libya and she didn't have a clue coupon in our room bedroom is through phone, Colorado took an old rule still negotiable look when we were a little harder.

Speaker Change: In particular for our OLED display product to be started with customers in Europe and U S. And now we are able to expand to customer base in Korea, and Japan as well so going forward in three years' time, we are expecting to triple the revenue compared to where we are today and going forward, we will actively leverage.

Speaker Change: We are looking forward to growth continuous growth this year of LTE P S LCD and OLED.

Speaker Change: No.

Speaker Change: Tony just some nonautomotive have undergone compound growth in food with hung on them from autos homes on Yahoo.

Speaker Change: In the medium to long term, along with AYPC, the growth of OLED monitors is also expected. We anticipate that our high-definition low-power solutions and medium to large-sized OLED technology will become more competitive. By applying these differentiated technologies, we believe we can lead the high-end market with a solid top-tier customer base, which is also considered a strength of our IT business.

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Speaker Change: New technologies, such as pillar to pillar display switchable privacy, and tandem, which our OLED and LCD a differentiated technology that we have supported by these new text, we will further strengthen our top line revenue as well as our bottom line and solidify our leadership in the market.

Speaker Change: Linda.

Speaker Change: So we've got confidence that there'll be a pretty good.

Hudson on if I'm doing it.

Speaker Change: Hey, good morning, let us keep on the rule and don't go against Samsung.

Speaker Change: Yeah.

Speaker Change: So the auto business is 2020 for the past four years it posted a growth on a CAGR basis of around 10% over the past four years. So from a mid to longer term perspective going forward at least for three years to come we're expecting a steady growth trend and compared to our peers.

Speaker Change: Now, going forward, our forecast is that there will be growth from the OLED monitor market on top of the AIPC growth from a mid to longer term perspective, and hence, we believe that our capabilities in the mid to large OLED, especially on high-picture quality and low power solutions, our competitiveness will be further solidified as we move into the future. So by bringing such differentiated technologies to bear on the products that we offered, we will be able to continuously lead the market as we have a very solid base of tier one customer base, and that really works to our advantage.

Speaker Change: The total did you play your Chinese phone Jan Kees, who talk for a minute.

Speaker Change: So I guess to me the simple cases, when they're good competitor to meal sugars any money for Shimbun didn't you IL Kim at all your luxury skip out Amit I'm, telling me, though.

Speaker Change: This brings us to the end of the earnings call for first quarter of 2025, if you have any unanswered questions or additional questions. Please feel free to contact us at the IR team. Thank you very much.

Speaker Change: Peers and competitors, we were successful in transitioning to LTE P. S. LCD and supported by large scale OLED orders, we hence expect and project that to be steady growth.

Speaker Change: Okay.

Speaker Change: And in Europe.

What you're doing in Hungary, we won't quit.

Speaker Change: That's all.

Speaker Change: No no.

Speaker Change: A little bit through Debbie maybe long term portfolio has always been done.

Speaker Change: Although the intensity of competition is increasing across the IT sector, we aim to gradually improve profitability through strong cost innovation, operational efficiency, top-tier customer-centric operations, and strengthening partnerships.

Speaker Change: Our portable lots of furlough display.

Speaker Change: The prior Bush here.

Speaker Change: Okay.

Speaker Change: Actually the type of occupier keep under rule <unk>, Colorado Anago strongly negotiated work when we are a little harder.

Speaker Change: So, across the entire IT segment, the level of competition between and amongst the panel providers is becoming more fierce. However, through very stringent cost innovation as well as operational achievement of operational efficiencies and really focusing on our top tier customer base and through strengthening the partnership that we have, we will continuously and gradually not chop up our profitability.

Speaker Change: In particular for our OLED display product, we started with customers in Europe and U S. And now we are able to expand <unk> customer base in Korea, and Japan as well so going forward in three years' time, we are expecting to triple the revenue compared to where we are today and going forward, we will actively leverage a new technology.

Speaker Change: <unk>, such as pillar to pillar display switchable privacy, and tandem, which our OLED and LCD differentiated technologies that we have supported by these new taxes, we will further strengthen our topline revenue as well as our bottom line and solidify our leadership in the market.

Speaker Change: Yes, we will take one more question and then finish.

Jong Union: The last question will be from Mr. Jonghyun Yoon of UBS.

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Jong Union: Yes, thank you for giving me the opportunity to ask the last question. I would like to ask about the auto business. How do you see the short-term and mid-to-long-term outlook for the auto display market? And following that, could you share your expectations on the mid-to-long-term growth and profitability trends of LG Display's auto business?

Speaker Change: This brings us to the end of the earnings call for the first quarter of 2025, if you have any unanswered questions or additional questions. Please feel free to contact us at the IR team. Thank you very much.

Speaker Change: [music].

Speaker Change: Thank you for taking my question. My question relates to your auto business. Can you provide us some color on what your take is for your short term and mid to longer term outlook for your auto business. And also what's the forecast for LG displays auto business growth and profitability going forward.

Speaker Change: Yes, this is Song Jae-hwan from Auto Marketing Product Planning. Initially, the automotive market was in a gradual recovery phase this year, but due to recent issues such as tariff issues, a slowdown in electric vehicle growth, and prolonged sluggishness of European and American OEMs, we currently believe that the overall automotive market will find it difficult to exceed 90 million units this year.

Speaker Change: Fortunately, the automotive display is being adopted regardless of whether it is an electric vehicle or an internal combustion vehicle, and the adoption rate per vehicle and the trend towards larger displays are still accelerating. As a result, the market size for LTPS LCD and OLED is expected to continue growing.

Speaker Change: I am Sung Kim, I'm VP in charge of auto marketing. If you look at the greater auto market, we are in the gradual recovery phase, but because there are certain issues that have newly emerged such as the telephone issue as well as the slowing of the EV growth and the OEM in Europe and US have been experiencing quite a bit of stagnation. Because of all these factors this year, we expect that it will be quite difficult for the overall auto market to report more than 90 million units of vehicles. But having said that, fortunately, if you look at in-vehicle display, regardless of whether a car is an EV or IC, we see a per vehicle basis, the percent of adoption of such displays is increasing and we see accelerated speed of shift to a larger panels.

Speaker Change: Yes. The auto business has grown at an average annual rate exceeding 10% over the past four years since 2020, and we expect a similar level of stable growth over the next three years in the medium to long term. We successfully transitioned to LTPS and LCD faster than our competitors, and stable growth is expected based on large-scale OLED orders.

Speaker Change: So, the auto business is 2020 for the past four years. It posted a growth on a carrier basis of around 10% over the past four years. So, from a mid to longer term perspective, going forward at least for three years to come, we're expecting a steady growth trend. And compared to our peers and competitors, we were successful in transitioning to LTPS LCD and so, put it by large scale OLED orders, we hence expect and project there to be steady growth.

Speaker Change: In particular, our OLED is expected to expand from European and American customers to now include Korean and Japanese customers, and is anticipated to grow more than three times the current OLED sales within the next three years. We will continue to strengthen sales and profitability based on differentiated OLED LCD technologies such as filter display, switchable privacy, and fandom, and solidify our leadership in the market.

Speaker Change: In particular, for our OLED display products, we started with customers in Europe and US and now we are able to expand to customer base in Korea and Japan as well. So, going forward in three years time, we are expecting to triple the revenue compared to where we are today. And going forward, we will actively leverage new technologies such as pillar to pillar display, switchable privacy and tandem, which are OLED and LCD differentiated technologies that we have supported by these new techs, we will further strengthen our top-line revenue as well as our bottom line and solidify our leadership in the market.

Speaker Change: With that, we will conclude the LG Display Q1 2025 earnings presentation. Thank you to everyone who attended, and if you have any further questions, please contact our IR team. Thank you.

Speaker Change: This brings us to the end of the earnings call for first quarter of 2025. If you have any unanswered questions or additional questions, please feel free to contact us at the IR team. Thank you very much.