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keyword:Iris Hu38 result(s)

Press Releases
3Q19 TV Shipment Grows 16.8% QoQ Owing to Peak Season, with Slight Projected Decline YoY, Says TrendForce

2019/11/27

Display / Consumer Electronics

The latest analysis from the WitsView research division of TrendForce shows that global TV shipment in 3Q19 reached 5497 million units, a 168% growth QoQ and 19% decline YoY As China-US trade relations worsened in 2Q19, TV brands took on a speculative attitude towards stocking-up This attitude completely changed with the imminent arrival, towards the second half of 3Q19, of Double 11 in China and year-end festivities in Europe and the Americas, which are both shopping holidays that require companies to stock up Not only did TV brands actively ramp up their shipments, but they also hoped to make up for lost sales in 1H19 through large-scale sales promotions According to TrendForce research manager Iris Hu, as brands stock up in preparation for year-end sales, 4Q19 shipment is projected to reach 6542 million units, a 19% growth QoQ After the sales prices across all panel sizes dropped below cash costs, panel manufacturers began reducing the production volume of panels in order to establish a price floor in 4Q19 Stabilized low prices of TV panels are expected to help brands plan their sales strategies Nonetheless, the TV market is impacted by tariffs-related problems stemming from the China-US trade war In addition, the Chinese market is increasingly saturated, and Chinese customers have become less and less reliant on TV sets Even in light of Chinese brands’ active expansion into overseas markets, total TV shipment in 2019 is expected to decline by 1% YoY Samsung’s Effective Pricing Strategy Doubles Its Shipment Share of QLED TVs The first two places in terms of 3Q19 shipment were still occupied by Korean brands Market leader Samsung increased the market share of its QLED products by adopting consumer-friendly prices Samsung’s shipment of QLED TV in 2019 broke the 5-million-unit mark for the first time and occupied 25% of the market, doubling the previous year’s shipment share In total, Samsung reached 1041 million TV units, a growth of 17% QoQ and 68% YoY On the other hand, LG Electronics (LGE), also based in Korea, notched shipment numbers of 744 million units in 3Q19, a 253% growth QoQ and 145% growth YoY Because most of LGE’s TV panels were supplied by LG Display, and because it assembled its TV sets in-house, LGE was able to achieve strong cost advantages, which translated into strong competitive advantages in the peak sales season As TCL and Hisense Actively Pursue Overseas Markets, Xiaomi Looks for a Resurgence in Shipment via Low Prices As the domestic demand in China became saturated, and Xiaomi aggressively pursued market share starting from 2018, the two largest Chinese brands TCL and Hisense quickly shifted their sales focus onto the international market TCL began exporting its products overseas since the beginning of 2019, with remarkable performances in North America, Europe, Latin America, and other emerging markets The company saw weak shipment numbers in 2Q19 due to uncertainties caused by the China-US trade war and an inflated shipment base period from preemptively stocking up in 1Q19 at the expense of 2Q19 shipment However, orders from overseas markets came in droves in 3Q19, driven by the arrival of peak season This, combined with TCL’s stocking up in August in preparation for Double 11, secured the company a 48 million unit shipment, a 14% growth QoQ, and a third-place global TV brand ranking Hisense is continuing to expand its overseas market this year to include Australia, Europe, and Russia The company’s exported products currently occupy 50% of its total product shipment Thanks to the rising demand in both the domestic and overseas markets in 3Q19, Hisense reached an all-time high (for the company) shipment of 462 million units, a 486% growth QoQ Fifth-place Xiaomi traditionally offered a lineup of highly cost-effective products to bolster its customer loyalty and increase market share Nevertheless, its performance during the 618 shopping festival in 1H19 did not meet prior expectations Xiaomi’s stocktaking in 3Q19 indirectly reduced its shipment by 83% to reach 275 million units The company aims to engage in an aggressive pricing strategy in 4Q19 to attract customers and generate a resurgence in shipment

Press Releases
Because Year-end Holiday Seasons' Demand Has Risen and Panel Capacity Shrank, in Sep. Prices of Some TV Panels Were Reduced Their Drop Scale and Might Stop Falling, Says TrendForce

2019/10/04

Display

According to WitsView, a division of TrendForce, its latest survey pointed out that TV panel prices had significantly dropped for 4 consecutive months since May Prices of more than half of size segments have lowered to below cash costs By contrast, panel prices of some size segments might shrink their price fall scale or even stop falling for 3 reasons First, Samsung Display (SDC) and LG Display (LGD) have steadily reduced some of their LCD capacities Next, Taiwanese and Chinese panel makers either moved down their capacities or changed their product mixes Third, the recent demand is from year-end promotional campaigns in Europe and USA and the demand is from China's November 11 e-commerce campaigns and stocking-up momentum between January 1 and Chinese New Year Holidays Iris Hu, the research manager of TrendForce, predicted the outlook in 4Q19, 1Q20 and 2Q20 At the end of 2019, brands might conduct inventory control Besides, the upcoming 1Q20 is expected to be a typical traditional off season Therefore, the risk of price fall might rise, and capacity reduction scale might expand When might TV panel price stop falling and become stable? The answer might be 2Q20 when brands might start to stock up for their new spring product launches and Tokyo Olympic Games The 32" panel price fall scale has shrunk, and might even stay flat in the short term The average price to 32" TV panel is an indicator It has dropped for more than 20% since June 2019 It not only fell below the cash cost, but also approached the variable cost In this way, BOE Technology (BOE) who is the major supplier of the 32" reduced production, in order to decrease loss of money After panel makers started to limit their production of the 32", in September, the 32" panel price fall scale might narrow to US $1 The lows of price range might even remain constant On the one hand, in 4Q19, the demand from international brands might begin to weaken On the other hand, Chinese brands keep on stocking up for their sales on November 11 and sales between January 1 and Chinese New Year Holidays Therefore, the 32" panel price might remain stable until mid-November However, when the end of 2019 approaches, brands might conduct inventory control and a traditional off season might come Then the 32" panel prices might move down The number of suppliers for 43" panels increased, so its price is hard to stabilize Because panel makers are losing money, they gradually begin to transfer capacity Some moved Gen 75's capacity of the 50" panel to make the 43" Some increased the 43" production shares in Gen 85 or Gen 105 On the one hand, these factors show that the 43" is one of the few products that are still profitable On the other hand, the problem is that increasing supply makes price fall unstoppable In September, the 43" FHD panel supply rose because of panel makers in China, so its price might fall by US $3 When the supply and demand can't balance in the short term, the price might continue falling During the peak season, demand to large-sized rose, so the price fall scales of the 55" and 65" were narrowed Before November, it is China's year-end peak-season for promotional campaigns, and brands' demand to the 55" and 65" panels has grown In addition, prices of the 55" and 65" all fell below the cash costs Moreover, when panel makers cannot bear the loss of more money, the continuously-rising demand might help shrink panel price's fall scales Hence, in September, the price fall scales to 55" and 65" are both projected to narrow to below US $5 The price of 55" might temporarily remain constant because before the end of 2019, Korean panel makers reduce their supply Regarding the price of 65", because of oversupply, it is unlikely to stop dropping

Press Releases
TV Panel Prices Plunge in June, with No Signs of Stopping in July, Says TrendForce

2019/07/05

Display / Consumer Electronics

According to  WitsView, a division of  TrendForce, although the US-China trade dispute reached a ceasefire after the Trump-Xi meeting at G20, TV brands have been engaging in preemptive stocking in 2Q due to fears of a 25% tariff to be placed into effect in 3Q as well as Samsung Display's (SDC) original decision to shut down their Gen 85 L8-1-1 plant This caused TV panel prices to plunge in June to an unforeseeable extent TrendForce points out that although SDC eventually had to postpone the shut-down of the plant until 3Q due to financial, technological and other considerations, end distributors' inventories of TV sets have already become bloated beyond saving in June, and brands' panel inventories have already reached dangerous levels Although some panel manufacturers are making small adjustments to production capacity in June and July, there is no turning back from the oversupply situation Though US-China trade has entered the renegotiation stage entering July, it is of limited help to the TV market Samsung Electronics made it out of the trade war safe and sound, as it leveraged its Mexico manufacturing advantage Yet despite its signaling at the end of 2Q that it will actively make preparations in anticipation of peak season demand in 3Q, China brands' efforts to promote sales in 1H haven't been paying off, leading to ever-increasing inventory levels Adding that panel prices started to take a dive in May and continued plunging throughout June, China brands' confidence in the markets has greatly diminished, and will take up a more conservative stance in procurements for July Furthermore, most panel manufacturers will be turning a blind eye towards the prospect of making production capacity adjustments in 3Q, in hopes of maintaining their respective shares of the market As demand stays weak and production capacity pressures continue to rise, negotiating power for TV panel prices in 3Q will probably remain firmly in the hands of buyers 32-inch Panel Prices Drop by More than 10%, with No Improvements in Demand 32-inch panel prices have dropped by over US$4 in one fell swoop under the weak demand and climbing inventory levels of June, arriving at US$36 From a supply side point of view, we see BOE, a major supplier, trying to lower 32-inch production in order to alleviate the downward pressure on prices Meanwhile, Innolux's 58-inch products from its Gen 55 line were no match for CEC Group's low-pricing strategy, causing the company to suffer an outflux of orders and turn to 32 -inch products for help We also see Korean manufacturers endlessly cranking out 65-inch panels, which are produced in pairs with 32-inch panels, in a bid to maintain their 65-inch panel market share 32-inch panels will be in oversupply for July, and panel prices may crash below cash costs, putting panel manufacturers' cost-saving abilities to the test 55-inch Panels Falling out of Fashion and Dipping in Sales Due to a drastic fall in prices for 65-inch TV sets, the TV size of choice hung in the living rooms of North American families have moved up from 55 inches to 65 inches, causing demand for 55-inch products to stagnate Although SDC will be closing 15 of its Gen 85 lines, other panel manufacturers with Gen 85 lines will be increasing the ratio of production for 55-inch panels, bringing supply for such panels up by 3-4% YoY Panel prices will most likely fall Due to brands having stocked up beforehand in June in anticipation of SDC's plant shut-down and the low demand at the end, their panel inventories have been piling up Meanwhile, panel manufacturers are under pressure to get rid of their inventories by the end of the first half-year, causing prices to sink by over US$10 in June with ASP arriving at US$116 for the first time If demand remains unoptimistic in July, there will still be some risk of price decline 65-inch and 75-inch Production Capacity Continues Growing, with Shipments Brought up by Price Cuts As BOE's Gen 105 Hefei line reaches full swing, and CSOT's Gen 11 continues expanding, 65-inch and 75-inch panel supply will far surpass the needs of customers, leading to only one road for 65-inch and 75-inch panel prices: reduction Panel manufacturers have even accumulated over a month's worth of inventories in June, and are under heavy pressure to sell off their stocks: 65-inch products have slid by US$10, with ASP arriving at US185 As for 75-inch products, CSOT  had to drive prices down to appeal to customers in order to keep the flow of shipments steady after its Gen 11 line began mass production in May, causing the 75-inch market to drop by 7-9% and ASP to crash below the US $400 threshold in June Now as CSOT has new production capacity for large-sized panels, perhaps not even BOE's attempt to relocate capacity from 65- and 75-inch products to 43-inch products would be enough to mitigate the risk of prices falling

Press Releases
Top Three China Panel Suppliers Surpass 40% in 1Q Market Share Combined, Thanks to New and Contributing Production Capacities, Says TrendForce

2019/05/06

Display

According to the TV panel shipment report for 1Q19 by WitsView, a division of TrendForce, total shipments have reached 7002 million units, a YoY growth of 42% The first season was an offseason as always with demand clearly dropping As Taiwan, Korean and Japanese panel manufacturers undergo annual maintenance and ease production pressures by adjusting product sizes, China's panel manufacturers take the lead in keeping TV panel shipments up this season as they free up production capacities TrendForce research manager Iris Hu says that a recovery in demand will be aided by the stock-up period for new products and China's 618 Sale entering 2Q Besides CSOT's Gen 11 production capacity, expanding month by month, new production capacities also include HKC's Chuzhou Gen 86 production line, which is expected to begin mass production in May The average size of shipped panels for 2Q is expected to grow by nearly an inch QoQ, reaching 465 inches, thanks to Gen 105 lines' focus on super large sized panels, and an increasing proportion of panels 50 inches and above from China's, Taiwan's and Korea's manufacturers This will be accompanied by a growth in total shipments by 55%   BOE Keeps Top Position in Shipments, while Innolux Enjoys Significant Growth Due to 50-inch Panel Demands In the TV panel shipment rankings for the first quarter, BOE's production capacity skyrocketed since its first Gen 105 line began mass production in early 2018, allowing BOE to come out on top in terms of 65-inch and 75-inch sizes, pushing down Korean Manufacturers Apart from super-large sizes, the increase in demand for 32-inch panels 1Q allowed BOE to grow offseason shipments against the trend by 5% QoQ to 1427 million units, a 149% YoY growth, safeguarding its position as leading TV panels supplier LGD's TV panel shipments declined by 116% in the first quarter, with production influenced not only by the decrease in demand offseason, but also by the adjustments made to its product portfolio of current Gen 75 and Gen 85 lines Shipments for products 55 inches and above are expected to grow by over 10% QoQ, starting with the second quarter After Innolux's clearing out of its mainstream, 395- and 50-inch inventories last year, its TV panel shipments reached 1074 million units 1Q this year, a QoQ decline of 137% but a 165% growth YoY, showing a clear improvement in shipments The migration of 49-inch demand to 50-inch products this year pushed Innolux to become the top supplier of 50-inch panels for global brands Thus despite entering the 1Q offseason, 50-inch shipments only dropped slightly by 07%, but exhibited a large growth of 381% YoY CSOT's shipment performance remained sure and steady since 2018 with the support of its group brand, TCL, which strove to capture a larger portion of the market Its first Gen 11 line began mass production in January this year, with yield rate as a priority and not merely a consideration This combined with the effects of the 1Q offseason brought about a shipment decline of 46% QoQ As for the performances of various sizes, we see CSOT winding down 32-inch production in its Gen 85 line and shifting towards 55 -inch production, bringing 55-inch shipment growth up to 93%   Samsung Decides to Pack Up and Make a Sprint for Large-Sized Products; CEC Group Shipment Growth YoY Hits 200% Due to SDC's decision to shut down 15 of its Gen 85 production lines this year, it has been raising the proportion of production for super-large sizes to get the most out of the remaining production lines This lead to modifications to and investments in their production lines early this year, affecting SDC's TV panel shipments, which dropped by 124% QoQ to 876 million units in the first quarter SDC was also the only one out of all TV panel suppliers to decline by 127% YoY in shipments, fully demonstrating SDC's resolve to pack up and move to highly-profitable, large-sized products AUO has the smallest production capacity of the top six It got into position early in mid- and large-sized markets with an aim to elevate profits, and thus exhibited a smaller fluctuation in shipments, which reached 628 million units This was a QoQ drop of 33%, a relatively mild drop compared to other suppliers declining in shipments After CHOT's Gen 86 line and Chengdu CEC-Panda's 86+ line entered the market in 2018, the CEC group focused its efforts on mid- and large-sized products Since the group's ODMs and China brands have completed verification processes and freed up production capacities , their shipments combined for 1Q this year stood at 52 million units, a QoQ growth of 143%

Press Releases
TV Panel Market Rises for Certain Sizes, While IT Panel Prices Have No Hope of Bouncing in 2Q, Says TrendForce

2019/03/27

Display

According to the research report by  WitsView  , a divison of  TrendForce  , on the supply and demand situation for large-sized panels, production capacity expansions by three of China's production lines and the 85 Gen production line belonging to Taiwan's AU Optronics have brought about the 2024 million square-meter supply area in 2018, presenting a growth of 79% YoY, the largest since 2013 TV panel demand was driven up by the FIFA fever and profit cuts in the first half-year , while PC panel demand benefited from specification upgrades and the rising demand in gaming, with overall demand area covering 1985 million square meters, a growth of 95% YoY The glut ratio for the entire 2018 year shrank from the projected 24% to 2%  WitsView Research Manager Iris Hu points out that CSOT Gen 11, Chuzhou HKC's Gen 86 and SIO's Gen 105 production lines will contribute to supply in 2019 as the three new production lines from last year ramp up production and go full throttle Thus even if SDC converts its Gen 85 LCD production capacity to QD-OLED in May and September this year, total supply area would still experience growth, projected to reach 96% YoY On the demand side, NB panel demand continues to suffer from and remain suppressed by the CPU shortage this year Monitor panels continue to reduce in scale for small-size products, with the focus placed on borderless and 23W and up niche products Although IT demand isn't looking too well, this year sees a clear transition in TV panel demand towards products 50 inches and above, which will help raise the demand area for large TV panels by a growth of 93% YoY to 217 million square meters With large panel supply area growing faster than demand this year, the glut ratio will expand up to 22% CPU Shortage and Inventory Clearance Still Underway; IT Panels Continue to See Weakening Demand in 2Q The four major applications have all dropped in demand in the traditional offseason that is 1Q, with total demand area declining by 61% compared to 4Q last year Among them, NB panel demand has been especially quiet during the offseason under the previous yet-to -be-cleared inventories and the continual shortage in CPUs For monitor panels, brands last year prepared their inventories in case the US-China trade dispute caused overall device costs to pile up, and proceeded to lower panel procurements one after another in 1Q to control inventory levels Growth for TV product sizes in demand rose as prices for large products 55 inches and above hit the sweet spot Panel manufacturers focused production capacities old and new on products 50 inches and above, causing mid- and small-sized product supply to tighten up,further motivating panel manufacturers to raise prices As for the supply situation in the first season, SDP's Gen 10 production line continued annual maintenance in January, while CPT (Chunghwa Picture Tubes Ltd) couldn't get its plant moving due to the unsuccessful application for recapitalization and a lack of funds Chengdu CEC's Gen 86 production line also decreased production as a result of the offseason Various reasons caused the supply area to drop by 33% compared to the fourth quarter last year The glut ratio for large panels as a whole reached 55% in 1Q Demand in the second season may make a gradual return, but two market developments deserve attention: First, TV panels may face a COF film undersupply crisis, but may also cause the upward price trend to spread from small- and mid-size panels towards large size panels; second, IT panel demand didn't recover due to factors such as CPU undersupply and adjustments of panel inventories, leading to the non-existent possibility for panel prices to bounce back up Overall, due to the predicted shortage in the 32 inch and 43 inch TV panel market for 2Q, customers will be stocking up preemptively, consequently bringing panel supply area in 2Q up to 63% On the supply side, SDC closed production lines a month early, causing panel supply area growth to lie lower than demand This shrank the glut ratio for 2Q to 51% compared to the last season,bringing up prices for sizes of tightening supply

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