LG Display (LPL) to Launch Display Solutions for SDV at CES
LG Display Co. LPL recently announced its plan to showcase automotive display solutions at the upcoming Consumer Electronics Show (CES) 2024. CES, the world's largest IT and home appliance exhibition, is scheduled to be held in the Las Vegas Convention Center in January 2024.
Arranged by the Consumer Technology Association, CES 2024 will give industry leaders the opportunity to demonstrate their innovative products from Jan 9 to Jan 12. In line with the theme of “Shaping the future of mobility space,” LG will demonstrate display solutions designed for the dashboards of Software-Defined Vehicles (SDV) at CES 2024.
The company is set to demonstrate its products built on technologies like P-OLED, Advanced Thin OLED (ATO) and Low-Temperature Polycrystalline Silicon (LTPS) LCD in its offerings. Additionally, it will unveil slidable and foldable OLEDs that can retract or extend as needed, as well as its latest innovation, the Switchable Privacy Mode.
LG Display Co., Ltd. Price and Consensus
LG Display Co., Ltd. price-consensus-chart | LG Display Co., Ltd. Quote
LG Display has introduced several innovations catering to the evolving needs of driving experiences while optimizing space efficiency needed inside vehicles. The company’s P-OLEDs, constructed using polymers, offer advantages like flexibility, thinness, superior color reproduction and energy efficiency. In the automotive realm, ATOs are employed to provide robust screen alternatives at reduced costs. Additionally, LTPS LCDs boast features like enhanced pixel density, lower power consumption for improved electron mobility and compatibility with flexible substrates.
The Switchable Privacy Mode feature adjusts the display's angle to keep the driver's focus on the road. It works by diverting movies or games shown on the passenger's side away from the driver, allowing only the passenger to view them. These products will significantly improve the control features and infotainment options inside the SDVs.
New Products Can Offer Fresh Direction to LG Display
The introduction of these innovative products might give a fresh opportunity to LG Display as it operates in a highly competitive industry, with rapidly evolving consumer needs. Currently, the company is experiencing slow growth in its business due to the ongoing inventory corrections in various industries and slow demand recovery due to economic uncertainties.
Delayed recovery of business-to-business demand has also affected its IT segment, whereas its TV panel business is seeing flat quarter-over-quarter growth, as reported on its third-quarter 2023 earnings call.
The market in which LG Display operates is susceptible to the steady decline in the average selling price of the products. Display panel prices typically decrease over time regardless of industry cycles due to technological advancements and cost reductions. While new products often start with higher prices, these decline swiftly due to market competition or other factors.
The launch of LG's new products for its automotive customers will provide a short-term boost, but the company's long-term prospects still appear constrained by existing challenges.
Zacks Rank and Stocks to Consider
Currently, LG Display carries a Zacks Rank #4 (Sell). Shares of LPL have declined 2.8% in the past year.
Some better-ranked stocks from the broader technology sector are BlackLine BL, Ceridian HCM CDAY and Everbridge EVBG, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for BlackLine's fourth-quarter 2023 earnings has been revised upward by 4 cents to 54 cents per share in the past 60 days. Shares of BL have declined 7.2% in the past year.
The Zacks Consensus Estimate for Ceridian HCM’s fourth-quarter fiscal 2023 earnings has been revised by a penny northward to 32 cents per share in the past 90 days. Shares of CDAY have gained 4.6% in the past year.
The Zacks Consensus Estimate for Everbridge’s fourth-quarter 2023 earnings has declined by a penny in the past 60 days to 49 cents per share. Shares of EVBG have declined 17.8% in the past year.
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