LG Display has posted a smaller-than-expected quarterly loss but offers an optimistic outlook for the year on higher demand for its organic light-emitting diode (OLED) panels.

The company posted a loss of 422 billion won in the October-December quarter, compared with an operating profit of 279 billion won a year earlier.

The Apple supplier has weathered a rough year that saw a prolonged decline in LCD panel prices, a management shake-up, and costs from restructuring and strategy changes.

LG Display will stop producing LCD TV panels by the end of the year and is investing heavily in OLED displays.