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LG.Philips Faces Q3 Loss
Oct 4, 2006
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Flat-screen maker LG.Philips LCD. Co. Ltd. is expected to report a loss for the second quarter in a row, as it struggles with weak prices and high costs for its mainstay TV panels, according to Reuters.

LG.Philips is likely to continue this loss until early 2007, despite its efforts to cut spending and boost output of higher-margin monitor panels.

The company has been feeling the brunt of heavy depreciation costs and inventories, while home rival Samsung Electronics Co. Ltd. and Taiwan's AU Optronics Corp. enjoy growing demand for LCD panels for TVs and monitors.

Analysts estimate about a 10 percent fall in LG.Philips average panel prices in the third quarter, after an 18 percent slide in the second quarter.

LG.Philips, a joint venture between South Korea's LG Electronics Inc. and Dutch company Philips NV, is expected to report a net loss of 318.2 billion won (approx. U.S. $335.8 million) for the quarter ended in September, according to 10 analysts surveyed by Reuters.

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