Canadian Business Online: LG.Philips LCD reports first-quarter loss on falling display prices
SEOUL, South Korea (AP) - LG. Philips LCD Co., the world's second-largest manufacturer of liquid crystal displays, said Tuesday it posted a first-quarter net loss amid a steep decline in prices.
LG.Philips lost 169 billion won (US$181 million) in the three months ended March 31, the company said in a statement. LG.Philips LCD posted net profit of 48 billion won a year earlier.
The loss was the fourth straight for the company, a joint venture between South Korea's LG Electronics Inc. and Royal Philips Electronics NV of the Netherlands.
Really, this is barely news any more. You could pump out a news feed that says "Oil Rose Today, Bombs Went Off In Iraq & Afghanistan, The Dow Jones Index Moved Up & Down Over The Trading Day, & A Flat-Panel Television Maker Lost A Fortune Trying To Gain Market Share." and probably get away with not refreshing it for three or four weeks before any of your readers caught on.
The only eyebrow raising note was this:
The loss was narrower than expected. The average estimate of nine analysts forecast that the company would post a loss of 244 billion won ($261 million).
From one perspective, they didn't lose $181 million, they saved $80 million against analyst's estimates! Whoopee!
I ought to be hard bitten and cynical by now, but I'm still stumped by the lemminglike drive amongst some manufacturers to see how much money they can not make on video displays. Why do so many want a piece of the bottom end?
Tuesday, April 10, 2007
LG Phillips' Q1 Takes A Bath On Price Cuts
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1 comment:
Now isn't it nice to know that the dot.com era of losing money on every transaction but making it up on quantity has not died, it has just moved to a different venue?
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