Edgar Filing: LG.Philips LCD Co., Ltd.

Form 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of October 2007

LG.Philips LCD Co., Ltd.

(Translation of Registrant’s name into English)

20 Yoido-dong, Youngdungpo-gu, Seoul 150-721, The Republic of Korea

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F X Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submission to furnish a report or other document that the registration foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes No X

Q3 07 Earnings Results

I. Performance in Q3 2007 – Korean GAAP Consolidated Financial Data

(Unit: KRW B)


Item	Q3 07	Q2 07	Q3 06	QoQ		YoY
Quarterly Results
Revenues	3,953	3,355	2,773	17.8	%	42.6	%
Operating Income	693	150	-382	362.0	%	—
Income Before Tax	659	124	-422	431.5	%	—
Net Income	524	228	-321	129.8	%	—

II. IR Event of Q3 2007 Earnings Results


1. Provider of Information:		IR Communication team

2. Participants:		Institutional investors, securities analysts, etc.

3. Purpose:		To present Q3 07 Earnings Results of LG.Philips LCD

4. Date & Time:		4:30 p.m. (Korea Time) on October 9, 2007 in Korean
		9:00 p.m. (Korea Time) on October 9, 2007 in English

5. Venue & Method:		1) Earnings release conference in Korean:

		- Grand Conference Room, 4^th floor,
		Korea Investment & Securities Building,
		27-1, Yoido-dong, Youngdungpo- gu, Seoul

		2) Conference call in English:

		- Please refer to IR homepage of LG.Philips LCD Co., Ltd. at www.lgphilips-lcd.com

6. Contact Information

1) Head of Disclosure:		Dong Joo Kim, Vice President, Finance & Risk Management
		Department (82-2-3777-0702)

2) Main Contact for Disclosure-related Matters:

		Kanghee Kim, Assistant Manager, Financing Team (82-2-3777-1665)

3) Relevant Team:		IR Communication team (82-2-3777-1010)

III. Remarks

Please note that the presentation material for Q3 07 Earnings Results is attached as an appendix and accessible on IR homepage of LG.Philips LCD Co., Ltd. at www.lgphilips-lcd.com.

Please note that the financial data included in the investor presentation and press release are prepared on a consolidated Korean GAAP basis (US GAAP consolidated and Korean GAAP non-consolidated information are stated below).

Financial data for Q3 07 are unaudited. They are provided for the convenience of investors and can be subject to change.

The following US GAAP consolidated information and Korean GAAP non-consolidated information are included for the convenience of investors.

US GAAP consolidated information


						(Unit: KRW B)
Item	Q3 07	Q2 07	Q3 06	QoQ		YoY
Quarterly Results
Revenues	3,953	3,355	2,773	17.8	%	42.6	%
Operating Income	672	147	-378	357.1	%	—
Income Before Tax	651	147	-408	342.9	%	—
Net Income	502	262	-307	91.6	%	—

Korean GAAP non-consolidated information

						(Unit: KRW B)
Item	Q3 07	Q2 07	Q3 06	QoQ		YoY
Quarterly Results
Revenues	3,975	3,267	2,729	21.7	%	45.7	%
Operating Income	709	139	-384	410.1	%	—
Income Before Tax	662	122	-426	442.6	%	—
Net Income	524	228	-321	129.8	%	—

Attached: 1) Press Release

2) Presentation Material

Attachment 1. Press Release

LOGO

LG.PHILIPS LCD REPORTS THIRD QUARTER 2007 RESULTS

SEOUL, Korea - October 9, 2007 - LG.Philips LCD [NYSE: LPL, KRX: 034220], one of the world’s leading TFT-LCD manufacturers, today reported unaudited earnings results based on consolidated Korean GAAP for the three-month period ended September 30, 2007. Amounts in Korean Won (KRW) are translated into US dollars (USD) at the noon buying rate in effect on September 28, 2007, which was KRW 914 per US dollar.

•

Sales in the third quarter of 2007 increased by 18% to KRW 3,953 billion (USD 4,325 million) from sales of KRW 3,355 billion (USD 3,671 million) in the second quarter of 2007 and increased 43% compared to KRW 2,773 billion (USD 3,034 million) in the third quarter of 2006.

•

Operating profit in the third quarter of 2007 was KRW 693 billion (USD 758 million) compared to an operating profit of KRW 150 billion (USD 164 million) in the second quarter of 2007, and an operating loss of KRW 382 billion (USD 418 million) in the third quarter of 2006.

•

EBITDA in the third quarter of 2007 was KRW 1,376 billion (USD 1,505 million), an increase of 62% from KRW 850 billion (USD 930 million) in the second quarter of 2007 and a year-over-year increase of 366% from KRW 295 billion (USD 323 million) in the third quarter of 2006.

•

Net income in the third quarter of 2007 was a profit of KRW 524 billion (USD 573 million) compared to a profit of KRW 228 billion (USD 249 million) in the second quarter of 2007 and a loss of KRW 321 billion (USD 351 million) in the third quarter of 2006.

Young Soo Kwon, CEO of LG.Philips LCD, said, “We are pleased with our financial performance this quarter, underscored by better than expected profit levels. These strong results reflect our focus on value based management including our continued diligence on reducing costs, maintaining a disciplined CAPEX strategy, developing marketing initiatives focused on our customer base, and managing appropriate inventory levels given both the current and projected market demand. Additionally, better than anticipated cost savings this quarter of 9 percent in terms of USD came as a result of our product development effort and effectively managing the supply chain. We are well on our way to achieving this year’s guided cost reduction of approximately 30 percent.”

Mr. Kwon continued, “Today, the Board of Directors approved investment in a Gen 8 facility with additional CAPEX of around KRW 2.5 trillion, targeting ramp-up in the first half of 2009. We believe this timing is in line with expected market demand of large-sized LCD TVs.”

“In conclusion, our current strategic decisions produced constructive results in the third quarter and attest that we are progressing in the right direction and well positioned to retain our role as a disciplined leader in this dynamic industry.”

Third Quarter Financial Review

Revenue and Cost

Revenue for the three-month period ended September 30, 2007, increased by 43% to KRW 3,953 billion (USD 4,325 million) from KRW 2,773 billion (USD 3,034 million) for the corresponding period of 2006. TFT-LCD panels for TVs, monitors, notebook PCs and other applications accounted for 48%, 25%, 22% and 5%, respectively, on a revenue basis in the third quarter of 2007.

Overall, the Company shipped a total of 3.1 million square meters of net display area in the third quarter of 2007, an increase of 11% quarter-on-quarter. The average selling price per square meter of net display area shipped was USD 1,364, which was an increase of approximately 7% compared to the average of the second quarter of 2007. The ending average selling price per square meter was USD 1,369, an increase of approximately 4% compared to the end of the second quarter of 2007.

For the third quarter of 2007, the cost of goods sold per square meter of net display area shipped decreased 9 % to KRW 1.0 million (USD 1,071) from the second quarter of 2007.

Liquidity

Cash and cash equivalents of LG.Philips LCD were KRW 1,656 billion (USD 1,812 million) as of September 30, 2007. Total debt was KRW 4,432 billion (USD 4,849 million), and the net debt-to-equity ratio was 37% as of September 30, 2007, compared to 49% as of June 30, 2007.

Capital Spending

Capital expenditures in the third quarter of 2007 were KRW 328 billion (USD 359 million) compared to KRW 908 billion (USD 993 million) in the third quarter of 2006, and were largely for P7.

Capacity

Total production input capacity on an area basis increased approximately 17 % sequentially in the third quarter and was largely due to increase of production, mainly in P7.

Outlook

The following expectations are based on information as of October 9, 2007. The Company does not expect to update its expectations until next quarter’s earnings announcement. However, the Company reserves the right to update its full business outlook, or any portion thereof, at any time and for any reason.

“We are encouraged by the progress we have made over the last 5 quarters, as we have fundamentally shifted the company’s perspective from being volume driven to becoming value-based. This focus will continue into the quarters ahead. Our overriding goal is to generate greater

shareholder value and our management team is committed to making the right strategic decisions to that effect.” said Ron Wirahadiraksa, CFO of LG.Philips LCD.

“Looking ahead, we expect shipments in the fourth quarter of 2007 to increase by a mid single digit percentage with a low single digit percentage declining average and ending ASP. We expect shipments in the TV segment to increase by a high single digit percentage with a mid single digit percentage declining average and ending ASP. In the IT segment, we anticipate shipments to decrease by a low single digit percentage with an average ASP flat and a mid single digit percentage declining ending ASP. Our COGS reduction per square meter is expected to be a low single digit percentage in the fourth quarter. As a result, we expect our EBITDA margin for the fourth quarter of 2007 to be in the mid thirties percentage range. We plan to maintain our capital expenditures in 2007 to approximately KRW 1 trillion. In addition, we expect our CAPEX for 2008 to be around KRW 3 trillion, which we feel is the right approach to capital spending given market demand.” Mr. Wirahadiraksa concluded.

Earnings Conference and Conference Call

LG.Philips LCD will hold a Korean language earnings conference on October 9, 2007, at 4:30 p.m. Korea Standard Time on the 4th floor, in the Grand Conference room of the Korea Investment & Securities Building, 27-1 Yeouido-dong, Yeongdeungpo-gu, Seoul, Korea. An English language conference call will follow at 9:00 p.m. Korea Standard Time, 8:00 a.m. EDT and 12:00 p.m. GMT. The call-in number is +82 (0)31-810-3001 for both callers in Korea and callers outside of Korea. The confirmation number is 3777. Corresponding slides will be available at the Investor Relations section of the LG.Philips LCD web site: http://www.lgphilips-lcd.com.

Investors can listen to the conference call via the Internet at http://www.lgphilips-lcd.com. To listen to the live call, please go to the Investor Relations section of the web site at least 15 minutes prior to the call to register and install any necessary audio software.

For those who are unable to participate in the call, a replay will be available for 30 days after the call. The call-in number is 031-810-3100 for callers in Korea and +82-31-810-3100 for callers outside of Korea. The confirmation number for the replay is 110120#.

About LG.Philips LCD

LG.Philips LCD Co., Ltd. [NYSE: LPL, KRX: 034220] is a leading manufacturer and supplier of thin-film transistor liquid crystal display (TFT-LCD) panels. The Company manufactures TFT-LCD panels in a wide range of sizes and specifications for use in TVs, monitors, notebook PCs, and various applications. LG.Philips LCD currently operates seven fabrication facilities and four back-end assembly sites in Korea, China and Poland. The Company has a total of 23,000 employees operating in ten countries around the world. Please visit http://www.lgphilips-lcd.com for more information.

Forward-Looking Statement Disclaimer

This press release contains forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Additional information as to factors that may cause actual results to differ materially from our forward-looking statements can be found in our filings with the United States Securities and Exchange Commission.

Investor Relations Contacts:

John Kim

LG.Philips LCD

Tel: +822-3777-1010

Email: jonghkim@lgphilips-lcd.com

Media Contacts:

Sue Kim

LG.Philips LCD

Tel: +822-3777-0970

Email: sue.kim@lgphilips-lcd.com

LG.Philips LCD

CONSOLIDATED STATEMENTS OF INCOME

(In millions of KRW)

(The financial statements are based on unaudited Korean GAAP)


	2007								2006
	Three months ended September 30				Nine months ended September 30				Three months ended September 30				Nine months ended September 30
REVENUES	3,953,065		100	%	10,030,102		100	%	2,772,774		100	%	7,558,906		100	%
Cost of goods sold	(3,061,442	)	-77	%	(8,875,407	)	-88	%	(3,018,773	)	-109	%	(7,842,081	)	-104	%

GROSS PROFIT	891,623		23	%	1,154,695		12	%	(245,999	)	-9	%	(283,175	)	-4	%

Selling, general & administrative	(198,530	)	-5	%	(519,470	)	-5	%	(136,065	)	-5	%	(419,275	)	-6	%

OPERATING INCOME	693,093		18	%	635,225		6	%	(382,064	)	-14	%	(702,450	)	-9	%

Interest income	16,230		0	%	37,084		0	%	5,151		0	%	23,536		0	%
Interest expense	(53,543	)	-1	%	(155,577	)	-2	%	(50,815	)	-2	%	(125,759	)	-2	%
Foreign exchange gain (loss), net	26,894		1	%	42,761		0	%	1,369		0	%	(1,043	)	0	%
Others, net	(23,996	)	-1	%	(22,562	)	0	%	4,371		0	%	(3,921	)	0	%

Total other income (expense)	(34,415	)	-1	%	(98,294	)	-1	%	(39,924	)	-1	%	(107,187	)	-1	%

INCOME BEFORE TAX	658,678		17	%	536,931		5	%	(421,988	)	-15	%	(809,637	)	-11	%

Income tax (expense) benefit	(134,447	)	-3	%	47,188		0	%	101,022		4	%	214,669		3	%

NET INCOME(LOSS)	524,231		13	%	584,119		6	%	(320,966	)	-12	%	(594,968	)	-8	%

- These financial statements are provided for informational purposes only.

LG.Philips LCD

CONSOLIDATED BALANCE SHEET

(In millions of KRW)

(The financial statements are based on unaudited Korean GAAP)


	2007								2006
	September 30				June 30				September 30				June 30
ASSETS
Current assets:
Cash and cash equivalents	1,656,419		12	%	1,237,643		9	%	471,747		3	%	778,877	6	%
Trade accounts and notes receivable	2,258,545		16	%	1,470,025		11	%	1,330,539		10	%	985,798	7	%
Inventories	905,802		6	%	961,911		7	%	1,148,286		8	%	1,270,899	9	%
Other current assets	350,547		2	%	557,951		4	%	320,707		2	%	378,207	3	%
Total current assets	5,171,313		37	%	4,227,530		31	%	3,271,279		24	%	3,413,781	25	%

Investments and other non-current assets	738,982		5	%	721,135		5	%	703,452		5	%	578,946	4	%
Property, plant and equipment, net	8,027,862		57	%	8,631,646		63	%	9,578,309		70	%	9,702,000	70	%
Intangible assets, net	105,449		1	%	114,047		1	%	181,576		1	%	190,984	1	%

Total assets	14,043,606		100	%	13,694,358		100	%	13,734,616		100	%	13,885,711	100	%

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term debt	922,697		7	%	630,074		5	%	672,721		5	%	787,845	6	%
Trade accounts and notes payable	1,144,782		8	%	976,534		7	%	881,443		6	%	632,011	5	%
Other payables and accrued liabilities	836,477		6	%	980,332		7	%	1,230,404		9	%	1,563,409	11	%

Total current liabilities	2,903,956		21	%	2,586,940		19	%	2,784,568		20	%	2,983,265	21	%

Long-term debt	3,509,342		25	%	4,026,528		29	%	3,806,675		28	%	3,413,995	25	%
Other non-current liabilities	111,555		1	%	94,970		1	%	71,812		1	%	64,770	0	%

Total liabilities	6,524,853		46	%	6,708,438		49	%	6,663,055		49	%	6,462,030	47	%

Common Stock and additional paid-in capital	4,100,150		29	%	4,100,150		30	%	4,064,251		30	%	4,064,251	29	%
Retained Earnings	3,423,492		24	%	2,899,261		21	%	3,013,718		22	%	3,334,684	24	%
Capital adjustment	(4,973	)	0	%	(13,491	)	0	%	(6,408	)	0	%	24,746	0	%
Controlling Interest	7,518,669		54	%	6,985,920		51	%	7,071,561		51	%	7,423,681	53	%
Minority Interest	84		0	%	0		0	%	0		0	%	0	0	%

Total liabilities and shareholders’ equity	14,043,606		100	%	13,694,358		100	%	13,734,616		100	%	13,885,711	100	%

- These financial statements are provided for informational purposes only.

LG.Philips LCD

CONSOLIDATED STATEMENTS OF CASH FLOW

(In millions of KRW)

(The financial statements are based on unaudited Korean GAAP)


	2007				2006
	Three months ended September 30		Nine months ended September 30		Three months ended September 30		Nine months ended September 30
Net Income	524,231		584,119		(320,966	)	(594,968	)
Depreciation	667,211		2,049,497		659,072		1,878,125
Amortization	12,524		35,659		12,733		37,954
Others	34,884		120,190		5,052		55,735

Operating Cash Flow	1,238,850		2,789,465		355,891		1,376,846
Net Change in Working Capital	(293,623	)	(1,129,183	)	(34,156	)	(683,211	)

Change in accounts receivable	(811,538	)	(1,430,809	)	(356,037	)	(74,461	)
Change in inventory	56,109		146,903		122,613		(457,501	)
Change in accounts payable	173,234		205,324		253,875		193,604
Change in others	288,572		(50,601	)	(54,607	)	(344,853	)

Cash Flow from Operation	945,227		1,660,282		321,735		693,635
Capital Expenditures	(327,879	)	(1,331,455	)	(908,087	)	(2,742,791	)

Acquisition of property, plant and equipment	(317,110	)	(1,311,029	)	(907,819	)	(2,745,098	)
(Delivery)	(90,815	)	(679,814	)	(535,936	)	(2,312,646	)
(Other account payables)	(226,295	)	(631,215	)	(371,883	)	(432,452	)
Intangible assets investment	(3,481	)	(15,572	)	(1,970	)	(5,363	)
Others	(7,288	)	(4,854	)	1,702		7,670

Cash Flow before Financing	617,348		328,827		(586,352	)	(2,049,156	)
Cash Flow from Financing Activities	(198,573	)	373,229		279,222		941,451

Net Cash Flow	418,775		702,056		(307,130	)	(1,107,705	)

- These financial statements are provided for informational purposes only.

LG.Philips LCD

CONSOLIDATED STATEMENTS OF INCOME

(In millions of KRW)

(The financial statements are based on unaudited US GAAP)


	2007								2006
	Three months ended Sep 30				Nine months ended Sep 30				Three months ended Sep 30				Nine months ended Sep 30
REVENUES	3,953,065		100	%	10,030,102		100	%	2,772,774		100	%	7,558,906		100	%
Cost of goods sold	(3,053,320	)	-77	%	(8,845,458	)	-88	%	(3,008,521	)	-109	%	(7,834,173	)	-104	%

GROSS PROFIT	899,745		23	%	1,184,644		12	%	(235,747	)	-9	%	(275,267	)	-4	%
Selling, general & administrative	(227,794	)	-6	%	(570,402	)	-6	%	(141,829	)	-5	%	(434,860	)	-6	%

OPERATING INCOME	671,951		17	%	614,242		6	%	(377,576	)	-14	%	(710,127	)	-9	%
Interest income	16,230		0	%	37,084				5,151		0	%	23,536		0	%
Interest expense	(45,020	)	-1	%	(142,382	)	-1	%	(43,979	)	-2	%	(117,672	)	-2	%
Foreign exchange gain (loss), net	4,319		0	%	27,594		0	%	5,123		0	%	35,701		0	%
Others, net	3,201		0	%	18,582		0	%	3,341		0	%	19,867		0	%

Total other income (expense)	(21,270	)	-1	%	(59,122	)	-1	%	(30,364	)	-1	%	(38,568	)	-1	%

INCOME BEFORE TAX	650,681		16	%	555,120		6	%	(407,940	)	-15	%	(748,695	)	-10	%
Income tax (expense) benefit	(148,972	)	-4	%	39,616		0	%	100,449		4	%	200,677		3	%

NET INCOME(LOSS)	501,709		13	%	594,736		6	%	(307,491	)	-11	%	(548,018	)	-7	%

- These financial statements are provided for informational purposes only (Unaudited).

LG.Philips LCD

CONSOLIDATED BALANCE SHEETS

(In millions of KRW)

(The financial statements are based on unaudited US GAAP)


	2007								2006
	Sep 30				Jun 30				Sep 30				Jun 30
ASSETS
Current assets:
Cash and cash equivalents	1,656,419		12	%	1,237,643		9	%	471,747		3	%	778,877	6	%
Trade accounts and notes receivable	2,258,545		16	%	1,470,025		11	%	1,330,539		10	%	985,798	7	%
Inventories	904,642		6	%	961,166		7	%	1,147,575		8	%	1,270,142	9	%
Other current assets	351,889		3	%	564,552		4	%	326,424		2	%	388,313	3	%
Total current assets	5,171,495		37	%	4,233,386		31	%	3,276,285		24	%	3,423,130	25	%

Investments and other non-current assets	756,043		5	%	748,963		5	%	710,701		5	%	581,577	4	%
Property, plant and equipment, net	8,069,844		57	%	8,686,465		63	%	9,663,242		71	%	9,786,667	71	%
Intangible assets, net	72,995		1	%	71,608		1	%	45,380		0	%	43,791	0	%

Total assets	14,070,377		100	%	13,740,422		100	%	13,695,608		100	%	13,835,165	100	%

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term debt	922,616		7	%	630,453		5	%	672,853		5	%	788,349	6	%
Trade accounts and notes payable	1,144,782		8	%	976,534		7	%	881,443		6	%	632,011	5	%
Other payables and accrued liabilities	853,271		6	%	1,016,826		7	%	1,236,235		9	%	1,569,747	11	%

Total current liabilities	2,920,669		21	%	2,623,813		19	%	2,790,531		20	%	2,990,107	22	%

Long-term debt	3,552,685		25	%	4,051,842		29	%	3,801,984		28	%	3,415,261	25	%
Other non-current liabilities	116,436		1	%	99,939		1	%	75,560		1	%	68,199	0	%

Total liabilities	6,589,790		47	%	6,775,594		49	%	6,668,075		49	%	6,473,567	47	%
Common stock and additional paid-in capital	4,037,977		29	%	4,037,239		29	%	4,035,331		29	%	4,034,636	29	%
Retained earnings	3,444,649		24	%	2,942,939		21	%	2,994,673		22	%	3,302,164	24	%
Capital adjustment	(2,123	)	0	%	(15,350	)	0	%	(2,471	)	0	%	24,798	0	%
Controlling Interest	7,480,503		53	%	6,964,828		51	%	7,027,533		51	%	7,361,598	53	%
Minority Interest	84		0	%	0		0	%	0		0	%	0	0	%

Total liabilities and shareholders’ equity	14,070,377		100	%	13,740,422		100	%	13,695,608		100	%	13,835,165	100	%

- These financial statements are provided for informational purposes only (Unaudited).

LG.Philips LCD

CONSOLIDATED STATEMENTS OF CASH FLOW

(In millions of KRW)

(The financial statements are based on unaudited US GAAP)


	2007				2006
	Three months ended Sep 30		Nine months ended Sep 30		Three months ended Sep 30		Nine months ended Sep 30
Net Income	501,709		594,736		(307,491	)	(548,018	)
Depreciation	668,579		2,053,603		661,929		1,886,696
Amortization	2,863		6,676		1,735		4,978
Others	85,478		168,045		1,783		2,061

Operating Cash Flow	1,258,629		2,823,060		357,956		1,345,717
Net Change in Working Capital	(313,402	)	(1,162,778	)	(36,220	)	(652,081	)

Change in accounts receivable	(811,538	)	(1,430,809	)	(356,037	)	(74,461	)
Change in inventory	56,524		146,948		122,567		(457,998	)
Change in accounts payable	173,234		205,324		253,875		193,604
Change in others	268,378		(84,241	)	(56,625	)	(313,226	)

Cash Flow from Operation	945,227		1,660,282		321,736		693,636
Capital Expenditures	(327,879	)	(1,331,455	)	(908,086	)	(2,742,791	)

Acquisition of property, plant and equipment	(317,110	)	(1,311,029	)	(907,818	)	(2,745,097	)
(Delivery)	(90,815	)	(679,814	)	(535,936	)	(2,312,646	)
(Other account payables)	(226,295	)	(631,215	)	(371,882	)	(432,451	)
Intangible assets investment	(3,481	)	(15,572	)	(1,970	)	(5,363	)
Others	(7,288	)	(4,854	)	1,702		7,669

Cash Flow before Financing	617,348		328,827		(586,350	)	(2,049,155	)
Cash Flow from Financing Activities	(198,573	)	373,229		279,220		941,450
Proceeds from Issuance of common stock	0		0		0		0

Net Cash Flow	418,775		702,056		(307,130	)	(1,107,705	)

- These financial statements are provided for informational purposes only (Unaudited).

LG.Philips LCD

Net Income Reconciliation to US GAAP

(In millions of KRW)


	2007
	Q3		Q2
Net Income under K GAAP	524,231		228,487
US GAAP Adjustments	(22,522	)	33,781
Depreciation of PP&E	(655	)	(655	)
Amortization of IPR	9,321		9,253
Adjustment of AR discount loss	(34	)	(1,237	)
Capitalization of financial interests	7,045		(794	)
Inventory Valuation	(76	)	0
Pension expense	(260	)	979
Income tax effect of US GAAP Adjustments	(14,526	)	11,103
ESOP	(738	)	(738	)
Convertible bonds (including FX valuation)	(18,711	)	13,425
Stock appreciation right	(550	)	(1,605	)
Cash flow hedge	(3,339	)	4,049
Others	1		1

Net Income under US GAAP	501,709		262,268

- These financial statements are provided for informational purposes only(Unaudited).

Q3 ’07

Earnings Results

October 9, 2007

Attachment 2. Presentation Material

Disclaimer

This presentation contains forward-looking statements. We may also make written or oral forward-looking

statements in our periodic reports to the United States Securities and Exchange Commission and the Korean

Financial Supervisory Service, in our annual report to shareholders, in our proxy statements, in our offering

circulars and prospectuses, in press releases and other written materials and in oral statements made by our

officers, directors or employees to third parties. Statements that are not historical facts, including statements

about our beliefs and expectations, are forward-looking statements. These statements are based on current

plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking

statements speak only as of the date they are made, and we undertake no obligation to update publicly any of

them in light of new information or future events.

Forward-looking

statements

involve

inherent

risks

and

uncertainties.

caution

you

that

number

important factors could cause actual results to differ materially from those contained in any forward-looking

statement. Such factors include, but are not limited to: our highly competitive environment; the cyclical nature of

our industry; our ability to introduce new products on a timely basis; our dependence on growth in the demand

for our products; our ability to successfully execute our expansion strategy; our dependence on key personnel;

and general economic and political conditions, including those related to the TFT-LCD industry; possible

disruptions in business activities caused by natural and human-induced disasters, including terrorist activity and

armed conflict; and fluctuations in foreign currency exchange rates. Additional information as to these and other

factors that may cause actual results to differ materially from our forward-looking statements can be found in our

filings with the United States Securities and Exchange Commission.

This presentation also includes information regarding our historical financial performance through

September 30, 2007, and our expectations regarding future performance as reflected in certain non-GAAP

financial measures as defined by United States Securities and Exchange Commission rules. As required by such

rules, we have provided a reconciliation of those measures to the most directly comparable GAAP measures,

which

available

our

investor

relations

website

http://www.lgphilips-lcd.com

under

the

file

name

Q3 2007

Earnings Results Presentation.

Q3 ’07 Earnings Results

Income Statement

(12)

Net margin

EBITDA margin

(14)

Operating margin

(9)

Gross margin

Margin (%)

N/A

130%

(321)

228

524

Net income

N/A

431%

(422)

124

659

Income before tax

366%

62%

295

850

1,376

EBITDA

N/A

362%

(382)

150

693

Operating Income

N/A

186%

(246)

312

892

Gross Profit

3,019

3,043

3,061

COGS

43%

18%

2,773

3,355

3,953

Revenue

YoY

Change

QoQ

Change

Q3 ’06

Q2 ’07

Q3 ’07

KRW b

Source: Unaudited, Company financials

K GAAP (Consolidated)

Balance Sheet

7,072

6,986

7,519

Shareholders’

equity

(20)

(12)

Net debt to equity ratio (%)

(8%)

(13%)

3,807

4,027

3,509

Long-term debt

37%

47%

673

630

923

Short-term debt

(2%)

(3%)

6,663

6,708

6,525

Liabilities

(21%)

(6%)

1,148

962

906

Inventory

251%

34%

472

1,238

1,656

Cash and cash equivalents

13,735

13,694

14,044

Assets

YoY

Change

QoQ

Change

Q3 ’06

Q2 ’07

Q3 ’07

KRW b

Source: Unaudited, Company financials

K GAAP (Consolidated)

(6)

672

686

680

Depreciation & Amortization

(2)

Others

(260)

269

(34)

(563)

(294)

Net change in working capital

725

160

(307)

258

418

Net change in cash

(478)

(581)

279

382

(199)

Financing activities

1,203

741

(586)

(124)

617

Cash flow before financing

580

184

(908)

(512)

(328)

CAPEX

623

557

322

388

945

Cash flow from operations

845

296

(321)

228

524

Net income

YoY

Change

QoQ

Change

’06

Q2 ’07

Q3 ’07

KRW b

Cash Flow

Source: Unaudited, Company financials

K GAAP (Consolidated)

Performance Highlights

Shipments and ASP

Total K m²

ASP/m²

** (USD)

Source: Company financials

Net display area shipped

** Quarterly average selling price per square meter of net display area shipped

Display area shipment in K m²

ASP per m²

(USD)

1,993

2,275

$1,430

$1,414

1,000

2,000

3,000

4,000

Q3 ’06

Q4 ’06

Q1 ’07

Q2 ’07

$1,000

$2,000

2,243

$1,287

Q3 ’07

$1,274

5,000

2,822

3,127

$1,364

Revenue: Product Mix

Source: Company financials

(Based on USD)

Notebooks

Monitors

TVs

Applications

Q1 ’07

Q2 ’07

100

Q3 ’07

27%

21%

47%

28%

22%

45%

25%

22%

48%

Q3 ’07 Capacity Update

P7 averaged 127K sheets per month for the third quarter

Source: Company financials

Quarterly input capacity

by Area (K m²

)

P1-P3

1,000

2,000

3,000

5,000

409

413

362

386

420

389

418

416

437

487

507

534

520

549

605

1,092

1,211

1,162

1,228

1,367

682

1,032

1,021

1,298

1,675

4,000

Q3 ’06

Q4 ’06

Q1 ’07

Q2 ’07

Q3 ’07

3,079

3,607

3,481

3,898

4,554

Cash ROIC

Source: Unaudited, Company financials

* IC (Invested Capital) equals average of net debt and equity for the designated period; Quarterly ratios are annualized

K GAAP (Consolidated)

EBITDA margin

Sales / IC*

Cash ROIC

18%

124%

23%

11%

112%

12%

19%

Q3 ’06

Q4 ’06

Q1 ’07

Q2 ’07

Q3 ’07

107%

20%

25%

126%

32%

Q3 ’06

Q4 ’06

Q1 ’07

Q2 ’07

Q3 ’07

Q3 ’06

Q4 ’06

Q1 ’07

Q2 ’07

Q3 ’07

35%

51%

148%

Outlook

Appr. KRW 1 Trillion

Mid thirties (%)

Low single digit (%)

Mid single digit (%)

Low single digit (%)

Flat (%)

Mid single digit (%)

Low single digit (%)

High single digit

(%)

Mid single digit (%)

(USD)

COGS per m²

EBITDA margin

CAPEX (KRW bn)

End QoQ

ASP per m²

(USD)

Avg

QoQ

ASP per m²

(QoQ)

Total Shipment in m²

Q4 ’07

Outlook

Source: Company financials, delivery base

Others

Future production facilities

2006

2007

549

1,221

1,064

485

270

260

2,834

1,015

CAPEX

Schedule (KRW b)

Questions and Answers

Appendix

(11)

Net margin

EBITDA

margin

(14)

Operating margin

(9)

Gross margin

Margin (%)

N/A

92%

(307)

262

502

Net income

N/A

343%

(408)

147

651

Income before tax

355%

57%

297

863

1,352

EBITDA

N/A

357%

(378)

147

672

Operating Income

N/A

180%

(236)

321

900

Gross Profit

3,009

3,034

3,053

COGS

43%

18%

2,773

3,355

3,953

Revenue

YoY

Change

QoQ

Change

Q3 ’06

Q2 ’07

Q3 ’07

KRW b

Source: Unaudited, Company financials

US GAAP Income Statement

7,028

6,965

7,480

Shareholders’

equity

(19)

(11)

Net debt to equity ratio (%)

(7%)

(12%)

3,802

4,052

3,553

Long-term debt

37%

47%

673

630

923

Short-term debt

(1%)

(3%)

6,668

6,775

6,590

Liabilities

(21%)

(6%)

1,148

961

905

Inventory

251%

34%

472

1,238

1,656

Cash and cash equivalents

13,696

13,740

14,070

Assets

YoY

Change

QoQ

Change

Q3 ’06

Q2 ’07

Q3 ’07

KRW b

Source: Unaudited, Company financials

US GAAP Balance Sheet

(6)

664

677

671

Depreciation & Amortization

Others

(277)

257

(36)

(570)

(313)

Net change in working capital

725

160

(307)

258

418

Net change in cash

(478)

(581)

279

382

(199)

Financing activities

1,203

741

(586)

(124)

617

Cash flow before financing

580

184

(908)

(512)

(328)

CAPEX

623

557

322

388

945

Cash flow from operations

809

240

(307)

262

502

Net income

YoY

Change

QoQ

Change

Q3 ’06

Q2 ’07

Q3 ’07

KRW b

Source: Unaudited, Company financials

US GAAP Cash Flow

(19)

Convertible bonds (including FX valuation)

(2)

(1)

Stock appreciation right

(3)

Cash flow hedge

262

502

Net Income under US GAAP

Others

(1)

ESOP

(14)

Income tax effect of US GAAP Adjustments

Pension expense

(1)

Capitalization of financial interests

(1)

Adjustment of AR discount loss

Amortization of IPR

(1)

Depreciation of PP&E

(22)

US GAAP Adjustments

228

524

Net Income under K GAAP

Q2 ’07

Q3 ’07

KRW b

Source: Unaudited, Company financials

Net Income Reconciliation to US GAAP

1,376

667

135

(16)

524

1,352

668

149

(16)

502

Q3 ’07

6. Amortization of Intangible Asset

809

240

(307)

262

1. Net Income

YoY

Change

QoQ

Change

Q3 ’06

Q2 ’07

US GAAP (KRW b)

(5)

2. Interest Expense

(11)

(4)

(5)

(12)

3. Interest Income

249

264

(100)

(115)

4. Provision (benefit) for Income Taxes

(7)

662

675

5. Depreciation of PP&E

1,081

526

295

850

EBITDA (1+2+3+4+5+6+7)

7. Amortization of Debt Issuance Cost

(7)

659

674

5. Depreciation of PP&E

236

239

(101)

(104)

4. Provision (benefit) for Income Taxes

1,055

489

297

863

EBITDA (1+2+3+4+5+6+7)

7. Amortization of Debt Issuance Cost

6. Amortization of Intangible Asset

(11)

(4)

(5)

(12)

3. Interest Income

2. Interest Expense

845

296

(321)

228

1. Net Income

YoY

Change

QoQ

Change

Q3 ’06

Q2 ’07

Q3 ’07

K GAAP (KRW b)

Source: Unaudited, Company financials

EBITDA Reconciliation

EBITDA Reconciliation (Continued)

EBITDA is defined as net income (loss) plus: interest income (expense); provision (benefit) for income taxes;

depreciation of property, plant and equipment; amortization of intangible assets; and amortization of debt

issuance cost. EBITDA is a key financial measure used by our senior management to internally evaluate the

performance of our business and for other required or discretionary purposes.

We believe that the presentation of EBITDA will enhance an investor’s understanding of our operating

performance as we believe it is commonly reported and widely used by analysts and investors in our industry. It

also provides useful information for comparison on a more comparable basis of our operating performance and

those of our competitors, who follow different accounting policies.

EBITDA is not a measure determined in accordance with U.S. GAAP.

EBITDA should not be considered as an

alternative to operating income, cash flows from operating activities or net income, as determined in accordance

with U.S. GAAP. Our calculation of EBITDA may not be comparable to similarly titled measures reported by other

companies.

LG. Philips LCD makes technology you can see…

Thank

You

!!!

October 9, 2007

New Direction

Progress of ’07 Major Action Items

Current Issues

Profitability in ’07

1. Progress of ’07

1. Progress of ’07 Major Action Items

Increase capacity by shortening Tact Time

(Maximize equipment efficiency)

Significantly enhance production capacity of the

existing

fabs

minimizing

loss

(Challenge

limits)

Some effects to show from Q3 ’07

(Contribute to the revenue increase)

Further

upgraded Max

Capa

Min

Loss

activity

progress

Improvement of theoretical capacity

Increase of utilization rate

3. Production

Capacity

Expansion

Planning

and

execution

aggressive cost reduction model

for 2007

Cost reduction through active sales of lower cost models

(Early start of model change)

Start the development of models for 2008

2. Developing

Lower

Cost Model

Timely purchase CI in correlation with panel price

decline

Simple

price

cut

has

limitation

further

lower

purchasing

price

Co-work on cost reduction ideas for co-existence

Support

suppliers’

business

innovation

Lowering

Purchasing Price

1. Progress of ’07

1. Progress of ’07 Major Action Items

Achieved superiority in pricing over competitors by

strengthening price management, etc.

5. Price Management

Through consideration management:

Customer-oriented mindset

Voluntary, positive mindset

Building teamwork

Establish strong organizational culture, enabling to

challenge limits

7. Organization Culture

1) Continuous reduction of O/H cost rate: 8% Point

2) Continuous reduction of Labor cost rate: 2% Point

4. Overhead Cost

Reduction

$25

($39)

Price Difference (42W-40W)

$511

$665

40W

$536

$626

42W

Sep ’07

Dec ’06

Panel price

(USD)

(Source : DisplaySearch

Monthly (Sep '07, Mar '07) Large Area Pricing Report)

Superiority of IPS technology for high-end TVs

(120HZ, Full HD)

6. Superiority of IPS

2. Current Issues

1) Possibility for Philips to sell some portion of its LPL

shares during ’07.

2) Philips to discuss with LPL on how and to whom

it sells LPL shares.

Currently, one or two companies have interests.

1. Philips Overhang

Decision on Gen 8 investment

Glass Size (mm)

: 2,200 X 2,500

Input Capacity : 83 K sheet / Month

Main Product : 47W, 52W

Mass Production : 1H '09

Investment Amount

: KRW 2.7 trillion

2. Gen 8 Investment

MOU was signed on Sep 20 and formal contract is in progress

Both

companies

have

agreed

end

patent

disputes

raised

2) Cross-license contract between the two companies

3) Compensation payment to LPL, of which amount is not

for disclosure

3. CPT License

3. Profitability in ’07

•

Concerns on PDP price decline

But PDP price decline may not affect significantly on LCD

•

The shortage situation will be continued or eased depending

on products

•

Sales may be decreased as a result of some equipment alteration

for CAPA enhancement

•

Considering the profit deterioration from strong Korean won

against USD, operating profit is forecasted to be reduced a bit

compared to Q3 ’07 operating profit

Q4 '07

Dec

'06

Jan

'07

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Dec

'06

Jan

'07

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Appendix 1) Theoretical CAPA and

Production Utilization Rate

38% improvement

15% Point

increase

Compared

Jan

’07,

when

Max

Capa

Min

Loss

activities

started,

theoretical

capa

has

improved

38%

and

production

utilization

rate

has

been

increased

15%

point

Sep

’07

Production Utilization Rate

( Km )

Theoretical Capacity

(%)

Appendix 2) Customers’

Evaluation on

LPL’s

LPL’s IPS 120Hz FHD/HD

JVC:

Letter

appreciation

for

receiving

‘Summer

Best

Buy’

award

from

‘HiVi’

(June

’07)

and

‘Visual

Grand

Prix’

award

from

‘AV

Review’

(July

’07)

with

LPL’s

42”

120Hz

FHD

product

“Thanks

your

excellent

42”

120Hz

FHD

panel,

have

received

‘Summer

Best

Buy’

award

from

‘HiVi’

June

’07

and

‘Visual

Grand

Prix’

award

from

‘AV

Review’

July

’07.

sincerely

appreciate your dedication and support, which enable us to receive these awards.”

Toshiba: Evaluation on the performance of 120Hz FHD panel (Q2 ’07)

“All our engineers are certain that LPL’s IPS is superior to others, and LPL can be the

leading company with its technological dominance in the 120Hz FHD market.”

Philips (120Hz): Self-evaluation test for motion blur reduction (Q2 ’07)

LPL

32”

Panel

(Best)

32”

Sony

32”

(Worst)

Loewe (120Hz):

Self-evaluation test for motion blur reduction (Q2 ’07)

LPL

42”

Panel

(Best)

Sharp

42”

Panel

40”

Panel

Generally customers are satisfied with our 120Hz FHD/HD products, which demonstrates

excellence of IPS tech.

Source: TV Product Planning Team

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


	LG.Philips LCD Co., Ltd.
	(Registrant)

Date: October 9, 2007	By:	/s/ Ron H. Wirahadiraksa
	(Signature)
	Name:	Ron H. Wirahadiraksa
	Title:	Joint Representative Director/ President & Chief Financial Officer