Is the long-anticipated rebound in the panel industry finally coming? South Korean panel maker, LG Display (LGD) CEO Sang Boem Han expressed on Wednesday that the market already showed signs of improvement. He expected that LGD's revenues will improve by second half of 2016.

According to Reuters, when Sang Boem Han was interviewed by media, he pointed out that by the end of second quarter of 2016, panel industry had picked up a bit of momentum, but did not explain tnhe reasons behind the optimistic outlook merely stating LGD's continuous efforts to lower operational costs.

Nonetheless, the timing of the rebound arrived too late, as the panel industry touched rock bottom. LGD’s second quarter financial report is expected to be released on July 27, 2016. Analysts estimated that LGD's operating profit in second quarter might plummet 96% year over year to reach only 18 billion Korean Won (US $15.72 million).

Popularity of OLED panels gained traction in 2016, resulting in LGD’s increased investment in the technology. Nevertheless, LGD is still behind its major rival, Samsung. Therefore, when Apple adopts small to mid-sized OLED panels in its smartphone next year, Samsung will have an advantageous edge. According to Sang Boem Han, OLED's revenues make up less than 10% of LGD's total revenues. For now, LGD must rely on LCD sales as its main business pillar and revenue source.