6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF THE

SECURITIES EXCHANGE ACT OF 1934

Commission File Number 0-20281

CREATIVE TECHNOLOGY LTD.

(Exact name of Registrant as specified in its charter)

SINGAPORE

(Jurisdiction of incorporation or organization)

31 International Business Park

Creative Resource

Singapore 609921

(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 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 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

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

On January 28, 2008, Creative issued an earnings release announcing its second quarter 2008 results. A copy of the earnings release dated January 28, 2008 is attached hereto as Exhibit 99.1.

Exhibit 99.1

99.1 Earnings release of Creative dated January 28, 2008, filed with the Singapore Exchange Securities Trading Limited on January 28, 2008.

Page 2

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.

CREATIVE TECHNOLOGY LTD.

/S/ Ng Keh Long

Ng Keh Long

Chief Financial Officer

Date: January 28, 2008

Page 3

EX-99.1

Exhibit 99.1

CONTACT INFORMATION:
USA:	Asia:
Phil O’Shaughnessy	Wynne Leong
(408) 546-6773	(65) 6895-4120
poshaughnessy@creative.com	wynne.leong@ctl.creative.com

Creative Announces Q2 FY08 Financial Results

SINGAPORE – Jan. 28, 2008– Creative Technology Ltd, a worldwide leader in digital entertainment products, today announced financial results for the second quarter of its 2008 fiscal year, ended December 31, 2007. All financial results are stated in U.S. dollars.

Revenues for the second quarter were $262.5 million, compared to revenues of $324.4 million for the same quarter last year. Net income for the second quarter was $7.6 million, with earnings per share of $0.09. This compares to net income of $92.1 million with EPS of $1.10 for the same period last year, which includes $82.0 million in net income with EPS of $0.98 for the paid-up license from Apple for its use of the ZEN Patent in its products. Excluding the paid-up license from Apple, net income was $10.1 million with EPS of $0.12 for the same period last year.

“We continue to improve our operating results, achieving operating income of $7 million compared to $3.3 million last year and increasing gross margins to 23 percent,” said Craig McHugh, president and COO of Creative Labs, Inc. “During the quarter we also strengthened our balance sheet, increasing our cash position to $291 million and reducing our net inventory to $93 million. We were able to improve our operating results even though we had a reduction in our year-over-year revenues.”

“We’re very excited about delivering on our strategy of introducing key new products, which we did this month at the Consumer Electronics Show in Las Vegas,” continued McHugh.

“At CES we unveiled a breakthrough with our inPerson multi-party, multi-platform inPerson conferencing system,” said Sim Wong Hoo, chairman and CEO of Creative. “With our portable, wireless inPerson system, you can have a high resolution video and audio multi-party call with multiple offices participating around the world. Each party can join an inPerson Conference from an inPerson system, through a PC with our inPerson inVite, and even from a cell phone for voice. With inPerson Conferencing, you can experience high resolution video on the system’s seven-inch display with high quality audio on the built-in speaker or output to a large screen LCD or plasma display. With inPerson we are creating an entirely new category, inPerson Conferencing, taking video conferencing outside the board room. With its breakthrough price and ease of use, all of the employees in a company can communicate inPerson, dramatically reducing the need for travel, saving cost and reducing their carbon footprint. In referring to the excitement that inPerson generated at the Consumer Electronics Show, U.S.-based BetaNews.com wrote, ‘the inPerson demo drew a crowd that rivaled Panasonic’s 150-inch HDTV display.’”

Craig McHugh continued, “We announced new MP3 players with our ZEN Stone and ZEN Stone Plus with Built-in Speaker in cool new colors. We also announced our Xdock HD iPod dock, which upconverts iPod video to HD-quality and plays back music wirelessly in Xtreme Fidelity. The Xdock HD drew huge crowds at CES and Macworld this month, and it was selected by judges as a finalist for the Best of CES award and iLounge’s Macworld Best in Show award. We came out with another great accessory for the iPod with our TravelSound i80 travel speaker system for the iPod Nano. We generated further excitement for our headphone and headset category with the introduction of the HS-1200 Digital Wireless Headset.”

“As we look into our current third fiscal quarter we are targeting to further improve our gross margins and achieve overall profitability,” added McHugh.

Share Buyback Program

During the second quarter, Creative purchased 1,500,000 shares under its share buyback program at an average price of $4.35.

# # #

About Creative

Creative is a worldwide leader in digital entertainment products. Famous for its Sound Blaster^® audio cards and for launching the multimedia revolution, Creative is now driving digital entertainment on the PC platform with products like its highly acclaimed ZEN portable audio and media players. Creative’s innovative hardware, proprietary technology, applications and services leverage the Internet, enabling consumers to experience high-quality digital entertainment — anytime, anywhere.

This announcement refers to products and pricing sold in the United States of America. Pricing and product availability are subject to change without notice. Sound Blaster and ZEN are trademarks or registered trademarks of Creative Technology Ltd. in the United States and/or other countries. All other brand and product names are trademarks of their respective holder and are hereby recognized as such.

Safe Harbor for Forward-Looking Statements:

This press release contains forward-looking statements, including statements relating to Creative’s gross margins, operating expenses, and profitability. These forward-looking statements involve risks and uncertainties that could cause Creative’s actual results to differ materially. Such risks and uncertainties include: Creative’s ability to timely develop new products that gain market acceptance and to manage frequent product transitions; competitive pressures in the marketplace; a reduction or cancellation of sales orders for Creative products; accelerated declines in the average selling prices of Creative’s products or any prices of components; Creative’s ability to successfully integrate acquisitions; potential fluctuations in quarterly results due to the seasonality of Creative’s business and the difficulty of projecting such fluctuations; possible disruption in commercial activities caused by factors outside of Creative’s control, such as terrorism, armed conflict and labor disputes; a reduction in demand for computer systems, peripherals and related consumer products as a result of poor economic conditions, social and political turmoil; major health concerns; the proliferation of sound functionality in new products from competitors at the application software, chip and operating system levels; the deterioration of global equity markets; exposure to excess and obsolete inventory; Creative’s reliance on sole sources for many of its chips and other key components; component shortages which may impact Creative’s ability to meet customer demand; Creative’s ability to protect its proprietary rights; the vulnerability of certain markets to current and future currency fluctuations; the effects of restricted fuel availability and rising costs of fuel; fluctuations in the value and liquidity of Creative’s investee companies. For further information regarding the risks and uncertainties associated with Creative’s business, please refer to its filings with the SEC, including its Form 20-F for fiscal 2007 filed with the SEC. Creative undertakes no obligation to update any forward-looking statement to conform the statement to actual results or changes in Creative’s expectations.

CREATIVE TECHNOLOGY LTD.

CONSOLIDATED BALANCE SHEETS

( In US$’ 000)

	December 31, 2007		June 30, 2007
	(Unaudited)
ASSETS
Current Assets:
Cash and cash equivalents	$	290,563	$	250,480
Accounts receivable, net		124,050		110,520
Inventory		93,363		134,911
Other assets and prepaids		47,959		40,308
Total current assets		555,935		536,219
Property and equipment, net		67,729		97,696
Investments		64,145		80,121
Other non-current assets		3,763		8,997
Total Assets	$	691,572	$	723,033
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	55,588	$	66,778
Accrued liabilities		98,194		92,898
Income taxes payable		21,241		21,349
Current portion of long term obligations and others		4,365		3,934
Total current liabilities		179,388		184,959
Long term obligations		126,175		129,131
Minority interest in subsidiaries		375		373
Shareholders’ equity		385,634		408,570
Total Liabilities and Shareholders’ Equity	$	691,572	$	723,033

CREATIVE TECHNOLOGY LTD.

CONSOLIDATED STATEMENTS OF OPERATIONS

( In US$’ 000, except per share data)

(Unaudited)

	Three months ended December 31,						Six months ended December 31,
	2007			2006			2007			2006
Sales, net	$	262,536		$	324,356		$	447,093		$	565,868
Cost of goods sold		201,883			253,706			346,646			459,318
Gross profit		60,653			70,650			100,447			106,550
Operating expenses:
Selling, general and administrative		36,947			52,366			71,401			94,193
Research and development		16,671			14,958			31,654			30,821
Total operating expenses		53,618			67,324			103,055			125,014
Operating income (loss)		7,035			3,326			(2,608	)		(18,464	)
(Loss) gain from investments, net		(2,121	)		225			2,281			(492	)
Interest income		2,869			2,270			5,768			4,179
Interest expense		(1,620	)		(2,885	)		(3,305	)		(5,749	)
Others		1,633			106,994			7,451			108,827
Income before income taxes and minority interest		7,796			109,930			9,587			88,301
Income tax expense		(168	)		(18,118	)		(650	)		(18,500	)
Minority interest in loss		—			310			1			1,313
Net income	$	7,628		$	92,122		$	8,938		$	71,114
Basic earnings per share:	$	0.09		$	1.10		$	0.11		$	0.85
Weighted average ordinary shares outstanding (‘000)		82,902			83,394			83,253			83,358
Diluted earnings per share:	$	0.09		$	1.10		$	0.11		$	0.85
Weighted average ordinary shares And equivalents outstanding (‘000)		82,953			83,992			83,303			83,889

CREATIVE TECHNOLOGY LTD.

CONSOLIDATED STATEMENTS OF CASH FLOWS

Increase (decrease) in cash and cash equivalents (in US$’000)

( Unaudited)

	Six Months Ended December 31,
	2007			2006
Cash flows from operating activities:
Net income	$	8,938		$	71,114
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of fixed assets		5,021			7,999
Amortisation of intangible assets		303			846
Deferred share compensation amortization		586			1,004
Minority interest in loss		(1	)		(1,313	)
Equity share in loss of unconsolidated investments		1,036			438
(Gain) loss on disposal of fixed assets		210			(1	)
Write downs of investments and other non-current assets		6,854			493
Gain from investments, net		(2,186	)		(1	)
Gains on disposal of subsidiary		(6,948	)		—
Deferred income taxes, net		(17	)		(72	)
Foreign currency exchange gain		(3,882	)		(3,528	)
Dividend income		(422	)		(419	)
Changes in assets and liabilities, net:
Accounts receivable		33,416			(57,925	)
Inventory		9,932			33,708
Other assets and prepaids		(8,352	)		11,618
Accounts payable		3,663			(41,632	)
Accrued and other liabilities		6,496			21,673
Income taxes		860			(1,071	)
Net cash provided by operating activities		55,507			42,931
Cash flows from investing activities:
Capital expenditures, net		(7,846	)		(2,820	)
Proceeds from sale of fixed assets		75			156
Proceeds from investments		4,427			2
Proceeds from sale of subsidiary		5,830			—
Purchase of investments		(1,135	)		(735	)
Increase in other non current assets, net		—			(873	)
Dividend income received		422			419
Net cash provided by (used in) investing activities		1,773			(3,851	)
Cash flows from financing activities:
Proceeds from exercise of ordinary share options		14			751
Repurchase of ordinary shares		(8,527	)		—
Repayments of debt obligations		(2,074	)		(1,957	)
Repayments of capital leases		(8	)		(882	)
Dividends paid		(11,528	)		(20,855	)
Net cash used in financing activities		(22,123	)		(22,943	)
Net increase in cash and cash equivalents		35,157			16,137
Effects of exchange rate changes on cash and cash equivalent		4,926			4,274
Cash and cash equivalents at beginning of year		250,480			213,995
Cash and cash equivalents at end of the period	$	290,563		$	234,406

CREATIVE TECHNOLOGY LTD.

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY

	Ordinary Shares ‘000	Treasury Shares ‘000		Ordinary Shares $‘000	Treasury Shares $‘000		Other Reserves $‘000	Unrealised Holding Gains (Losses) on Investments $‘000		Retained Earnings $‘000		Total $‘000
Q208
Balance at July 1, 2007	83,622	—		300,086	—		53,949	24,240		30,295		408,570
Shares issued under employee options and share purchase plans	4	—		14	—		—	—		—		14
Purchase of treasury shares	—	(2,000	)	—	(8,527	)	—	—		—		(8,527	)
Dividends paid	—	—		—	—		—	—		(11,528	)	(11,528	)
Amortization of deferred share compensation	—	—		—	—		586	—		—		586
Comprehensive loss	—	—		—	—		—	(12,419	)	8,938		(3,481	)
Balance at December 31, 2007	83,626	(2,000	)	300,100	(8,527	)	54,535	11,821		27,705		385,634
Q207
Balance at July 1, 2006	83,271	—		298,474	—		52,265	19,453		22,961		393,153
Shares issued under employee options and share purchase plans	161	—		751	—		—	—		—		751
Purchase of treasury shares	—	—		—	—		—	—		—		—
Dividends paid	—	—		—	—		—	—		(20,855	)	(20,855	)
Amortization of deferred share compensation	—	—		—	—		1,004	—		—		1,004
Comprehensive loss	—	—		—	—		—	(5,238	)	71,114		65,876
Balance at December 31, 2006	83,432	—		299,225	—		53,269	14,215		73,220		439,929

CREATIVE TECHNOLOGY LTD.

SUPPLEMENTAL FINANCIAL INFORMATION

	Three months ended
	Dec 31, 2007		Sept 30, 2007		Dec 31, 2006
Revenue by geographical region :
Americas	27	%	20	%	34	%
Europe	53	%	57	%	51	%
Asia and rest of the world	20	%	23	%	15	%
Revenue by product category :
Personal Digital Entertainment	56	%	53	%	68	%
Audio	12	%	14	%	10	%
Speakers and Headphones	25	%	25	%	16	%
Others	7	%	8	%	6	%