LG.Philips LCD Co. Ltd. post losses

LG.Philips LCD Co. Ltd. post losses

LG.Philips LCD Co. Ltd. was the world’s largest maker of large LCD panels in 2005. However, this has not helped them much as the company has just posted a record quarterly net loss on Tuesday.

The company has suffered these losses as the prices of LCD panels have dropped around the world and this has resulted in lesser returns on their products.

Market analysts are also not very optimistic about the coming months, as they do not expect the company to post profits this year.

The market for LCD panels also failed to generate much excitement during the recently concluded Fifa World Cup. Sales have been low and the profit margins are declining with newer players entering the market.

LG.Philips posted a 322 billion won net loss in the quarter that ended in June. This is worse than what the market had expected the company to post for this quarter.