LG Philips LCD, a joint venture between South Korea's LG Electronics and Royal Philips Electronics NV, lowered its second-quarter guidance for shipments and its EBITDA margin forecast, according to Forbes.
Previously the company estimated shipment growth in the mid- to high-twenties for the second quarter. It currently expects shipments to rise in the mid-teens from the first quarter. The company expects quarter-on-quarter growth of about 25 percent for LCD TV shipment, which is less than the previous projections of about 50 percent growth.
Its EBITDA margin forecast was also cut to about 10 percent, compared with the previous estimate of approximately 20 percent. According to Forbes, the company also cited sharper-than-expected price declines and higher-than-expected inventory levels as major reasons for the revisions.
to Daily News