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 investments 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.