LG Display posts loss cuts investment plans on smartphone worries

LG Display, the company 

LG Display, the company that for the 6.5-inch  model that it will unveil this year, reported a loss for the second quarter on Wednesday. For the period from April through June, the company posted an operating loss of 228 billion won ($202.1 million USD). That beat the consensus of 11 analysts surveyed by Thomson Reuters who forecast a larger loss of 247 billion won. Revenue fell 15% year-over-year to 5.6 trillion won ($4.97 billion USD).

 LG Display, the company's second consecutive

For LG Display, it was the company's second consecutive quarterly loss, and experts blamed lower LCD pricing due to overproduction of the panels by manufacturers. It also is leading LG Display to cut the amount it plans to invest in its business by 3 trillion won ($2.7 billion USD) by 2020. The company is keeping an eye on the U.S.-China trade war and could make changes to production in China and South Korea based on what is happening with this battle. Besides the oversaturated LCD market, the firm says that it decided to cut spending because of its concern about the smartphone market.

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