Originally, our panel shipment for first quarter was expected to be similar to the fourth quarter with channel inventory restocking demand and new model lineup by set makers as well as launch of our differentiated products. However, some delay in the schedule of differentiated product and new model development resulted in 4% shipment decrease.Operating loss continued while panel price remained stable at a slight decline all in the quarter. Cost reduction recorded low single-digits. There is improvement effort to increase competitiveness in first quarter affected the results negatively due to some delay of new model shipments. As most of the issues have been already resolved, we expect these efforts to bear fruit in second quarter leading to the meaningful improvement in the results.
LG Display Management Discusses Q1 2012 Results - Earnings Call Transcript
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