Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

LG.Philips LCD Profits Fall as Flat Screen Prices Tumble
Oct 12, 2004
 Printable format
 Email this Article
 Search

A worse-than-expected drop in profits attributed to tumbling flat-screen prices hurt LG.Philips LCD Co.'s profits. The joint venture between LG Electronics and Philips Electronics N.V. experienced a 15-percent loss in third-quarter profits.

The company, said to be the world’s number two maker of liquid crystal displays (LCDs, said LCD prices dropped about 20 percent in the third quarter and would fall by another 19 to 32 percent by the end of the first half of 2005.

Consumers are not buying expensive LCD TVs in the volumes expected by flat-screen makers who have spent billions to ramp up production, leaving a surplus of displays on the market.

LG.Philips earned 291 billion won (approx. U.S. $253 million) in net profit for the third quarter ended Sept. 30, compared to 343 billion won (approx. 298 million) a year earlier. The company’s first earnings announcement since an initial public offering in July, fell short of analysts’ forecasts of 333 billion won (approx. $290 million).

LG.Philips and market leader Samsung Electronics Co. Ltd. have each committed to spend some (approx. $20 billion) on LCD factories over the next decade. Despite falling prices, LG.Philips said it did not have a problem with the current inventory level and doesn’t intend to adjust supply. (Reuters)

Back to Daily News

 

Daily News

...........................................................

Sep 19, 2014: Builder confidence at highest level since Nov. 2005

Sep 19, 2014: Builders Show, Kitchen/Bath Show, and 3 other events converge for 2015 Design & Construction Week

Sep 19, 2014: GE Appliances supporting Susan G. Komen

Sep 18, 2014: AHRI at White House unveils $5 billion refrigerant R&D plan

Sep 18, 2014: Solar microinverter market could break $1 billion by 2018

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows