LG Display Co., Ltd. (NYSE:LPL) Q4 2022 Earnings Conference Call January 26, 2023 8:00 PM ET
Company Participants
Brian Heo - Investor Relations
Sunghyun Kim - Chief Financial Officer
Hee Yeon Kim - Chief Strategic Officer
Ki Hwan Son - Vice President, Auto Marketing
Seong Gon Kim - In Charge, Medium Display Marketing
Seung Min Lim - Vice President, Corporate Planning
Operator
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 2022 Fourth 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 2022 fourth quarter earnings results by LG Display.
Brian Heo
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 am joined by the CFO, Sunghyun Kim; CSO, Hee Yeon Kim; Seung Min Lim, Senior Vice President of Corporate Planning; Jeong Lee, in charge of Business Intelligence; [indiscernible] Lee, In Charge of Large Display Marketing; Seong Gon Kim, in charge of Medium Display Marketing, and Ki Hwan Son, Vice President of Auto Marketing.
The conference call will be conducted in both Korean and English. Please refer to the provisional earnings release today or the IR Events section of the company’s website for more details on the financial results of Q4 2022.
Before we begin the presentation, please take a moment to read the disclaimer. 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.
Before we begin the earnings presentation, CFO, Sunghyun Kim will provide a briefing on the company’s main tasks and activities.
Sunghyun Kim
Good morning. This is Sunghyun Kim, CFO of LG Display. Looking back on 2022, we see demand slowdown accelerate in major product groups on the heels of worsening macro environment, resulting in year long inventory correction in downstream industries, softening demand that started in general B2C products, spread to B2B then to high-end product groups as well, which had shown relatively solid demand.
The display market continued to face headwinds, with panel prices still on the trend of decline although the pace slowed down. Given the protracted challenges in the market, the company is focusing on recovering financial soundness and future proofing. Upgrading our business structure remains our utmost priority, where we will concentrate our internal capabilities.