More Red Ink for LG.Philips in Q3 on Flat Panel Weakness

| About: LG Display (LPL)

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LG.Philips Posts Q3 Loss on Weak Panel Price, Costs [Reuters]

Summary: LG.Philips (NYSE:LPL) reported its second consecutive quarterly loss, citing price weakness and high costs associated with flat panel production as the reason for its 321 billion won ($334.8 million) Q3 loss; it lost 321.5 billion won in Q2. Although the loss wasn't necessarily a surprise, it was a reversal from last year's Q3 in which a 227 billion won profit was achieved. Analysts expect its struggles to continue into early '07. Meanwhile Philips is rumored to be preparing to sell its 32.9% stake, with industry watchers suggesting Sharp (OTCPK:SHCAY) or Matsushita Electric Industrial (NYSE:MC) as possible buyers.
Related links: Reuters: LG.Philips sees Q4 TV panel prices fall slowingLG.Philips Still Floundering While the Rest of the LCD Market RecoversLCDs Pushing Plasmas to Sidelines of Flat Panel MarketLCD Market Expectations Too High Going Into the Holiday SeasonLCD Market Difficulties Lead AU Optronics to Consolidate, Ease CapacityImproving Q3 & Q4 Outlook for LCD MakersLCD Update: Despite Some Good News, Our Bearish Outlook Stands • Conference call transcript: LG.Philips Q2 2006
Potentially impacted stocks and ETFs: AU Optronics (NYSE:AUO), Corning (NYSE:GLW), Sony (NYSE:SNE) and Toshiba (OTCPK:TOSBF)

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