Display Earnings Improve YoY on wider OLED adoption; Demand Expected to Weaken in 2QThe Display Panel Business posted KRW 6.92 trillion in consolidated revenue and KRW 0.36 trillion in operating profit for the first quarter. Mobile display earnings declined QoQ because of chip shortages affecting major smartphone customers and weak seasonality. However, earnings improved year-on-year (YoY) as the expanded adoption of OLED displays from flagship to entry-level models drove growth. Large displays saw a drop in earnings due to ongoing conversion of manufacturing lines in preparation for the next generation TVs. Looking ahead to the second quarter, Samsung expects weak demand for mobile displays compared to the previous quarter because of the seasonal impact and as consumers hold off buying new smartphone models until later in the year. The Company aims to raise utilization rate and secure profitability by advancing the production. For large displays, it will continue to smooth the way for the transition to new business model based on QD display technology.