Display LG, the company that Apple is counting on to supply 4 million OLEDs for the iPhone Xs Plus 6.5-inch model, reported huge losses in the second quarter. From April to June, the company posted a 228 billion won (202.1 million US dollars) operating loss, The loss of the company beat the consensus of 11 Reuters analysts, who predicted a bigger loss of 247 billion won.
Revenue fell 15 percent year-on-year to 5.6 trillion won (4.97 billion US dollars).
This is the second consecutive quarterly loss for the company, and experts blamed the low prices of LCD monitors due to excessive screen production by manufacturers. LG Display also led to a reduction in the amount it plans to invest in its business by 3 trillion won (US $ 2.7 billion) By 2020.
The company monitors the US-China trade war and can make changes to production in China and South Korea on the basis of what is happening in the battle. Besides the LCD screen market, the company says it has decided to cut spending because of concern about the smartphone market.
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