LG.Philips Displays was a joint venture created by the LG Group of South Korea and Philips Electronics of the Netherlands. It primarily manufactured CRTs used in traditional television sets.
These two companies also operate another joint venture, LG.Philips LCD, which focuses on LCD panels used in flat panel television sets and laptop computers.
As of 2006, the company had run into bankruptcy and restarted under the same name with investements of a third party (JP Morgan). LG.Philips LCD was not affected by this bankruptcy.
LG.Philips Displays shares were sold in the beginning of March 2007. The company name has been changed to LP Displays from 1 April 2007. LP is a historic reference to the old parent companies LG and Philips.
Philips is already a leading global supplier of CRTs (No.1 in television tubes, and No.5 in computer monitor tubes), with particular strengths and significant market shares in Europe, China, and the Americas. It employs approximately 24,000 people and has 12 CRT manufacturing sites throughout Asia, Europe and the Americas. Philips Components’ CRT business posted revenues of US$ 3.0 billion in the year 1999, and EBIT (Earnings Before Interest and Tax) of US$ 157 million.
LG is also a leading supplier of CRTs, both in television and monitor tubes, where it holds a global No.3 position. Already producing the highest yields in the industry, LG has 5 CRT manufacturing sites, mainly in Asia, and employs approximately 12,000 people. LG’s CRT business had revenues of US$ 2.2 billion in 1999, and EBIT of US$ 357 million.)