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LG.Philips hurt by LCD TV price crash

July 14th, 2006 · No Comments

Disappointing LCD revenue has led panel producer LG.Philips to declare a net loss of 339 million dollars for the second quarter, which ended June 30. This compares starkly to a profit of 43 million dollars for the same quarter last year.
The drop has been caused by the worlwide price crash on LCD TVs and monitors. While sales have grow, albeit slower than anticipated, the average selling price has declined sharply.
“We were significantly impacted by much greater than expected industrywide pricing weakness,” admits Bon Joon Koo, vice chairman and CEO of LG.Philips LCD.
Samsung, also about to release its second quarter figures, is expected to announce similarly disappointing results.

Tags: LCD TV · Trade

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