This excerpt taken from the LPL 20-F filed Jun 23, 2009.
The global economic downturn may result in reduced demand for our products and adversely affect our profitability.
Recent difficulties affecting the U.S. and global financial sectors, adverse conditions and volatility in the U.S. and worldwide credit and financial markets, fluctuations in oil and commodity prices and the general weakness of the U.S. and global economy have increased the uncertainty of global economic prospects in general and have adversely affected the global and Korean economies. The recent global economic downturn has adversely affected demand for consumer products manufactured by our customers in Korea and overseas, including televisions, notebook computers, desktop monitors and other application products utilizing TFT-LCD panels, which has in turn led them to reduce or plan reductions of their production beginning in the fourth quarter of 2008. Partly in response to the weakening demand, we reduced our TFT-LCD production from July 2008 to February 2009. We may decide to adjust our future TFT-LCD production on an ongoing basis subject to market demand for our products, the production outlook of the global TFT-LCD industry and global economic conditions in general. We cannot predict how long the current market conditions will last. We expect the general decline in demand for TFT-LCD products to continue to prevail at least in the near future, which may adversely affect our business, results of operations and/or financial condition.