LG Display Expected to Post Deficit Due to EU Fine

      January 19, 2011 10:05

      LG Display is expected to announce a quarterly deficit for the first time in seven quarters in its performance results to be issued on Thursday.

      According to industry sources on Tuesday, the firm apparently accumulated a deficit of some W280 billion (US$1=W1,116) for the fourth quarter of last year due to a fine of 215 million euros imposed by the European Union last month.

      The European Commission fined LG Display and five other companies a combined 648.9 million euros for fixing prices of LCD panels from 2001 to 2006.

      Some two dozen securities firms have forecast that LG Display will post W6.16 trillion in sales and an operating deficit of W285.6 billion for the quarter, according to financial information services provider FnGuide.

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