LG Display Co., Ltd. (NYSE:LPL) Q2 2023 Earnings Conference Call July 26, 2023 1:00 AM ET

Company Participants

Brian Heo - In-Charge of IR

Sunghyun Kim - Chief Financial Officer

Hee-Yeon Kim - CSO

Seung-Min Lim - Senior Vice President of Corporate Planning

Eric Ki Hwan Son - Vice President of Auto Marketing

Jeong Lee - In Charge of Business Intelligence

Seong Gon Kim - In Charge of Medium Display Marketing

Conference Call Participants

Hwan Seung Kim - Hana Securities

Simon Wu - Bank of America

Junghoon Chang - Samsung Securities

Operator

[Foreign Language] Good morning and good evening. First of all, thank you all for joining this Conference Call. And now we will begin the Conference of the Fiscal Year 2023 Second Quarter Earnings Results by LG Display. This conference will start with a presentation followed by a divisional Q&A session. [Operator Instructions] Now we shall commence the presentation on the fiscal year 2023 second quarter earnings results by LG Display.

Brian Heo

[Foreign Language] Good morning. This is Brian Heo in charge of LG Display's IR. On behalf of the company, let me thank all the participants at this conference call. Today, I'm joined by the CFO, Sunghyun Kim, Hee-Yeon Kim, CSO; Seung-Min Lim, Senior Vice President of Corporate Planning; Ki Hwan Son, Vice President of Auto Marketing, Jeong Lee, in Charge of Business Intelligence, [indiscernible] in Charge of Large Display Marketing and Seong Gon Kim, in Charge of Medium Display Marketing.

[Foreign Language] The conference call will be conducted in both Korean and English. Please refer to the provisional earnings release today or the IR Events section in the company's website for more details on the financial results of Q2 2023.

[Foreign Language] Before we begin the presentation, please take a moment to read the disclaimer.

[Foreign Language] Please note that today's results are based on consolidated IFRS standards prepared for your benefit and have not yet been audited by an outside auditor.

[Foreign Language] I will start with Q2 business results. In the midst of intense inventory correction continuing in the downstream industries since last year, especially in TV and IT, panel inventory in the channels has been falling. With improving inventory soundness across the industry ecosystem, leading to gradual recovery in panel demand, shipment of medium and large panels grew in Q2, led by OLED TV and IT. Revenue in Q2 was KRW 4.739 trillion, up 7% Q-o-Q.