Samsung says Display segment results declined in Q1 on weak seasonality

The company reported Display segment revenue of KRW 5.39T vs. KRW 6.61T last year and operating profit of KRW 0.34T vs. KRW 0.78T last year. In Display Mobile, the company states: “Results declined due to weak seasonality and intensifying sales competition. However, we accommodated the launches of a major customer’s new high-end smartphones with timely supply of flexible displays. For rigid displays, our utilization rate improved as a result of our widened sales base.” Q2 Mobile Display outlook: “Expect sales to increase ahead of the launch of our major customer’s new foldable phone and on growing demand for IT products, but intensifying competition among panel makers is likely to limit earnings growth.” FY24 Mobile Display outlook: “Anticipate moderate market growth with the OLED penetration rate to keep rising in particular. Maintain our competitive edge in flexible displays and expand sales through our differentiated technology related to low-power consumption, enhanced durability, etc. Continue to replace LCD in the rigid display smartphone market by accelerating cost reductions.”