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UBS has upgraded LG Display's stock rating from Sell to Neutral, lowering the price target to KRW10,000 due to a 33.75% decline in share price amid concerns over decreasing demand for iPhones and TVs. Despite a reported operational loss in Q3 2024, the company anticipates growth in panel shipments and improved cash flow from the sale of its Guangzhou LCD TV fab by Q1 2025. However, Citi has downgraded its rating to Sell, citing competitive pressures from rivals like BOE and Samsung.
China's display industry is rapidly advancing in the OLED market, with BOE supplying tandem OLEDs for Huawei's Mate 60, marking a significant shift in competition against South Korea. The Chinese market share in smartphone OLEDs surged to 47.3%, while Korea's dropped to 52.5%, driven by aggressive pricing and government subsidies. As Chinese companies like BOE expand their production capabilities, they are poised to challenge major customers like Apple, potentially reshaping the market landscape.
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ubs upgrades lg display to neutral amid declining stock and market challenges
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15:30 16.01.2025
China's display industry rapidly advances in the OLED smartphone market
06:12 15.01.2025
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