Soyang Europe announces new cushioned floor graphics solution
Soyang Europe has announced the launch of InstaFloor, a printable cushioned floor covering designed for high-traffic environments
The losses came despite strong revenue for LG Business Solutions, with increased logistics costs among the reported causes
LG Electronics (LG) has announced strong third-quarter 2024 financial results, despite an operating loss for the arm of the business responsible for the sale of OLED signage.
The South Korean manufacturer announced a third-quarter consolidated revenue of KRW 22trn (£12bn) and an operating profit of KRW 751.9bn (£420m).
The revenue is apparently the highest ever for the company in its third quarter, and the operating profit is the fourth highest in the company’s history.
However, LG Business Solutions, which is responsible for the sale of the company’s OLED signage, reported an operating loss of KRW 76.9bn (£43m) in the same quarter, despite a revenue of KRW 1.40trn (£784m).
The company has listed increased logistics costs and intensified competition among the reasons for the loss. The reported operating loss expanded significantly from the previous year, although revenue in fact grew year-over-year.
The company has predicted that in the fourth quarter demand for LED signage is expected to grow by double digits compared to the same period last year. The aim is that this growth will offset third quarter losses.
According to market research released by advisory group Omdia, overall sales of OLED TV panels are forecast to reach seven million units in 2024, up a third from 2023. Sales growth of OLEDs is expected to increase to roughly ten million units by 2030.
LG Home Entertainment, responsible for the sale of commercial TVs, reported stronger results. Revenue increased by 5.2% compared to the same period last year, driven by increased shipments in Europe, a key market for OLED TVs.
In September, LG Business Solutions has demonstrated a range of new solutions including transparent OLED at an event hosted by social impact and sustainability consultancy company, Think Beyond.
The transparent OLED signage was showcased for the first time in the UK at the event. With what has been labelled as “self-lighting pixels”, the displays are said to maintain vivid colours and a high contrast ratio even when they become transparent.
The screens can also be equipped with a PCAP touch sensor film. The transparent film can be applied to a glass or acrylic surface to create a touch screen.
