FORM 6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

REPORT OF FOREIGN PRIVATE ISSUER

Pursuant to Section 13a-16 or 15d-16

of the Securities Exchange Act of 1934

For the date of April 16, 2007

000-51643

(Commission File Number)

PIXELPLUS CO., LTD.

(Translation of registrant’s name into English)

5th Floor, Intellige I, KINS Tower

25-1 Jeongja-dong, Bundang-gu, Seongnam-si

Gyeonggi-do 463-811, The Republic of Korea

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover 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);  ¨

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);  ¨

Indicate by check mark whether by furnishing the information contained on 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

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-            .

Audit Result Release

1. External Auditor’s Opinion and Condensed Non-Consolidated Financial Statements
	Current Fiscal Year (2006)	Previous Fiscal Year (2005)
a. External Auditor’s Opinion	Unqualified	Unqualified
- Includes uncertainty of going concern	Yes	No
b. Condensed Non-Consolidated Financial Statements based on Korean GAAP (in Korean won)
Total Assets	30,556,192,259	53,008,792,428
Total Liabilities	12,759,990,401	20,037,981,912
Total Shareholders’ Equity	17,796,201,858	32,970,810,516
Revenues	26,584,062,071	38,921,206,716
Operating Income (Loss)	(-)15,251,167,284	2,121,306,110
Ordinary Income (Loss)	(-)17,370,732,472	970,565,046
Net Income (Loss)	(-)17,370,732,472	970,565,046
Basic EPS	(-)2,778	253
2. Name of External Auditor	Ernst & Young HanYoung	Samil PricewaterhouseCoopers
3. Date of Audit Report Received	March 29, 2007	March 31, 2006

* This audit result release was prepared and is presented in accordance with Korean GAAP. Significant differences exist between Korean GAAP and U.S. GAAP, including accounting principles with respect to the consolidation of financial results of any subsidiary, which might be material to the non-consolidated financial information provided in this release. Investors should rely on the financial results of Pixelplus Co., Ltd. prepared and presented in accordance with U.S. GAAP.

SIGNATURE

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.

Pixelplus Co., Ltd.
By:	/s/ Hoang Taig Choi
Name:	Hoang Taig Choi
Title:	Chief Financial Officer

April 16, 2007