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Press Releases
TrendForce Says Global TV Panel Shipments for 2017 Grew by 1.3%; LGD, BOE, Innolux Took Top 3 Positions

2018/01/23

Display / Consumer Electronics

Highlights TV panel makers continue to increase the production shares of large-size panels and UHD panels LG Display’ shipments of 65" and 75" TV panels increased significantly by 385% and 1327% respectively, indicating its preparation for further competition with BOE in large-size TV panel sector SDC continues to develop its UHD panels, whose proportion came to 546% among all of SDC’s products   WitsView, a division of TrendForce, reports that global LCD TV panel shipments increased quarter by quarter in 2017 1H17 showed less momentum for holiday sales due to the high prices, but shipments rebounded in 2H17 as the prices declined and TV makers prepared for the year-end sales Moreover, the new production capacities of BOE’s Gen 85 fab in Fuqing and HKC’s Gen 86 fab in Chongqing have been focusing on middle-size TV panels (43" and 32" respectively), bringing the annual shipments beyond expectation to 26383 million pieces, an increase of 13% compared with 2016 As for 2018, Iris Hu, research manager of WitsView, points out that panel makers will continue to increase the production shares of large-size panels and UHD panels to boost the revenue and profit “The penetration rate of UHD panels is expected to reach 42% this year, an increase of 74 percentage points compared with 2017”, says Hu Regarding the new production capacity, BOE’s Gen 105 fab produces mainly large-size TV panels (65" and 75"), but CEC’s two fabs still put their priorities at middle-size ones (32" and 50") Meanwhile, replacement of CRT TV sets with 32" and 236" LCD ones is still ongoing in emerging markets, making the average panel size grow slower to 458 inches, only 13 inches up from 2017 Overall speaking, global TV panel shipments this year will have chance to hit a second-highest number in history, reaching 26949 million pieces, an annual increase of 22% LGD remains the leader in TV panel market while BOE took second place for the first time In the global TV panel shipment ranking for 2017, LG Display (LGD) came first place with a shipment of around 5085 million pieces last year, a decrease of 39% LGD expanded its production capacity in Guangzhou fab for 50K sheet, but in terms of panel size, increasing the production capacity share of 65" and greater panels has been the trend Particularly, LGD shipments of 65" and 75" panels have increased significantly by 385% and 1327% respectively, indicating that LGD has been making efforts to retain its market share in large-size TV panel sector before BOE’s Gen 105 fab enter mass production BOE deliberately slowed down its 32" TV panel production growth in 2017, so the shipments of this size increased by only 04%, totaling 4381 million pieces But its total shipments climbed to second place for the first time as Samsung Display (SDC)’s closure of L7-1 fab influenced its production As BOE’s Gen 85 fab in Fuqing entered mass production in 2Q17, BOE’s shipments of 43" TV panels grew remarkably by 2476% last year Innolux’s Gen 86 fab entered mass production in early 2017, but the yield rate and output were less than expectation in the first half of 2017 In the second half, high pricing of panels led to shrinking demand, resulting in Innolux’s slow-moving and excess stocks In addition, Innolux announced to enter the TV assembly market, which made its clients more conservative in making orders Fortunately Innolux figured out the solutions of pricing and stock problems, and ended up with shipments of 418 million pieces, an increase of 02%, ranking the third SDC dropped out of top 3 due to closure of L7-1 fab, CSOT recorded the highest growth by shipment area SDC’s shipments saw a substantial decline of 154% last year since the closure of its L7-1 fab Its overall TV panel shipments turned out to be 396 million pieces, the highest decline among the six major panel makers Although its shipments have dropped out of top 3, SDC has improved capacity utilization by simplifying its product mix, and has invested in production equipment of UHD and large-size panels to increase the value of its products As for product portfolio, SDC took initiatives to develop UHD panels, whose proportion came to 546% among all of SDC’s products, and also remained a major supplier of large-size panels (55", 65" and 75") Particularly, its market share of 65" sector was as high as 363%, showing definite advantages over its competitors China Star Optoelectronics Technology (CSOT) kept increasing the shipments after the capacity of the second phase of its second Gen 85 fab was expanded to 140K sheet CSOT’s final shipments recorded 3864 million pieces, an increase of 168% compared with the previous year Particularly, 55" panels recorded a 194% shipment growth, as CSOT’s capacity expansion came mainly from this size As for the growth by shipment area, CSOT recorded a 196% YoY increase, the highest among the six major panel makers TV panel shipments for AU Optronics (AUO) in 2017 came to around 2721 million pieces, 01% down from the previous year AUO continued to optimize its product portfolio and increased the proportion of large-size panels, so it finally recorded a 51% growth of shipment area In addition, AUO also put focus on increasing the proportion of UHD products, reaching 44% of all its products, the third highest number following LGD and SDC 

Press Releases
TrendForce Says Monthly TV Panel Shipments Grew 8.2% for August and Reached a New High for This Year Due to Falling Prices and Seasonal Demand

2017/09/28

Display / Consumer Electronics

WitsView, a division of TrendForce, reports that global LCD TV panel shipments for August totaled 2302 million units, showing an increase of 82% from July and a year-on-year drop of 25% WitsView also says that the August shipments represent the highest monthly volume in the TV panel market for this year so far This turnaround from the weak shipment result in July was attributed to two consecutive months of declining panel prices and increasing stock-up activities ahead of holiday events in the major markets including the US, Europe and China Iris Hu, research manager of WitsView, pointed out that TV brands have become more confident at the market after seeing strong sales results in China pertaining to online sales events on June 18 and August 18 They are also more aggressive in stocking up in preparation for the next two major busy periods in the Chinese market – the “golden week” of the National Day holiday in October and the online shopping extravaganza on Singles’ Day in November “On the whole, the procurement momentum from TV brands has apparently recovered since the middle of the third quarter,” said Hu “At the same time, Chinese TV brands have focused on developing the medium- and the small-size segments of their oversea markets during this year Going forward, TV panel shipments in September are expected to remain stable as in August" Innolux returned to first place in the monthly shipment ranking for TV panels; LGD was the only one among the six major panel makers to post decline In the monthly TV panel shipment ranking for August, Innolux took first place again after two years and surpassed LG Display since June 2015 Innolux shipped around 394 million units in August, an increase of 289% from July Innolux’s shipments of 236- and 32-inch panels benefitted from the replacement of CRT TV sets with LCD ones in Southeast Asia and other emerging markets Together, shipments of these two size segments went up by 286% compared with the previous month Innolux also benefitted from the shorter shipment base level of July and the rise in demand following two months of falling prices Its 50-inch shipments in August not only returned to 800,000-unit mark but also achieved a new single-month high for its shipments of this size segment, soaring by 1168% from July to hit 867,000 units LG Display (LGD) fell to second place in TV panel shipment ranking and was the only one among the six major panel makers to post monthly shipment decline for August Chinese TV brands and LCD module suppliers make up more than 50% of LGD’s client base These clients held back their stock-up demand in August as they expected further drops in panel prices The slowdown in Chinese orders therefore led to a below-expected TV panel shipments for LGD, whose August total was around 38 million units – a decline of 36% compared with July BOE Technology (BOE) grew its TV panel shipments in August as it had done in July Its August total was around 377 million units, representing a small monthly increase of 19% Versus July, shipments of 32-inch panels (the panel maker’s main offering) went up by 53% Furthermore, BOE’s shipments of 49-inch panels increased by 168% on the back of effective promotion efforts to the white-box TV makers Samsung Display (SDC) has not taken additional production capacity for TV panels Instead, SDC has modified its panel fabs so each of them focuses on one size segment SDC intends to raise the overall shipment by minimizing inefficiency of operating multiple processing lines within a production facility while maximizing the capacity utilization The investments to change the production strategy appears to be yielding positive returns as SDC recorded a monthly growth rate of 81% in August with the volume totaling around 354 million units China Star Optoelectronics Technology (CSOT) shipped around 34 million units in August, up 79% from July CSOT’s advantage lies in being the supplier for its group company TCL, which is purchasing more in-house panels as it works to expand its market share in North America Likewise, other Chinese brands in face of saturated domestic markets are also expanding overseas On account of the demand from compatriot TV makers, CSOT’s shipments of 32- and 49-inch panels also went up by 214% and 167%, respectively, in August compared with July TV panel shipments for AU Optronics (AUO) in August came to around 24 million units, up 43% from July’s volume While AUO’s main focus is on large-size and niche panel products, it maintains a flexible product mix strategy so that it gets the most out of its limited production capacity Due to the rising demand from TV brands for medium- and small-size panels, AUO saw its shipments of 32- and 39-inch panels increased by 94% and 54%, respectively, in August versus the prior month

Press Releases
TrendForce Reports Average Size of TV Panels Grew to 44.7 Inches in Second Half of 2017; TV Brands Shift Their Demand to Larger Size Segments Due to Cost Pressure

2017/07/25

Consumer Electronics / Display

LGD topped the shipment ranking of TV panel suppliers for 1H17, posting a small year-on-year decrease of 11% SDC posted a 14% year-on-year drop for its TV panel shipments in 1H17, the largest decline among the six major TV panel suppliers Panel demand from TV brands has shifted towards larger size segments, leading to a 17-inch increase in the average panel size in 1H17 to 447 inches The latest research by WitsView, a division of TrendForce, finds the global shipments of LCD TV panels totaled 12335 million units for the first half of 2017, amounting to a tiny dip of 01% compared with the same period a year ago Since Samsung Display (SDC) closed its Gen-7 fab L7-1 at the end of 2016, TV brands since the first quarter have been vigilant against the supply tightening in the mid-size segments and kept stocking up Their demand was strong enough to offset the traditional seasonal effect during the year’s first half Prices of panels belonging to the 40- to 43-inch size range rose by nearly 70% on average this April from their lowest point a year ago As there is no profit selling products carrying panels in this size range, TV brands have shifted their demand towards larger size segments Thus, the average size of TV panels reached 447 inches in the first half of 2017, up by 17 inches from a year ago The global shipments of TV panels in total area for this year’s first half also grew by 87% year on year Iris Hu, research manager of WitsView, stated that TV makers will be more conservative in their panel procurement in the second half of 2017 “Though the TV panel market is entering the traditional peak period for stock-up activities, TV makers are finding that the excessively high panel cost is severely compressing their profit margins,” said Hu “Also, more than 60% this year’s newly added panel production capacity will become available in the year’s second half The steady expansion in the overall supply will create the condition for a significant downward price correction” According to WitsView, much of the TV panel demand will continue to concentrate in size segments 55 inches and larger in the latter six months of 2017 Shipments for the period is projected to increase by 41% in volume compared with the year’s first half as China’s BOE Technology (BOE) and HKC have taken on additional production capacity since the second quarter Specifically, BOE has expanded the capacity for 43-inch panels at its Gen-85 fab in Fuzhou, while HKC’s Gen-86 fab in Chongqing has raised its 32-inch capacity The total shipment area is also projected to increase by up to 10% compared with the year’s first half LGD led in TV panel shipments for the year’s first half while Innolux climbed to second place LG Display (LGD) topped the shipment ranking of TV panel suppliers for the first half of 2017 LGD shipped about 2528 million units during the period, representing a small year-on-year decrease of 11% On the other hand, the demand growth for large-size panels led to a year-on-year increase of 57% in the corresponding total area LGD was therefore the champion in both volume and area LGD’s TV panel shipments were affected by the conversion of its Gen-85 fab in South Korea’s Paju from producing LCD to OLED products Furthermore, the panel maker adjusted its product mix to allocate more production capacity to monitor panels sized 238 and 27 inches This move, which also interfere with TV panel production, was to meet monitor brands’ demand for larger panels that will help increase their profits However, LGD at the start of this second quarter undertook the expansion of its Gen-85 fab in China’s Guanzhou As that fab operates with more available capacity, LGD will have greater flexibility in balancing the production of various products during this year’s second half Innolux adjusted the product mix for its two Gen-6 fabs, expanding the production capacity for the 65-inch panels while reducing the capacity for the 395-inch segment The move increased both profit and shipments for the panel maker Innolux’s TV panel shipments for the first half of 2017 totaled around 2025 million units, representing a year-on-year increase of 22% The panel maker jumped to second place in the ranking TV panel shipments fell substantially for BOE and SDC in the year’s first half BOE Technology (BOE) shipped just 195 million units of TV panels in this year’s first half, registering a year-on-year drop 131% BOE has benefitted from more orders for 32-inch panels since this second quarter as Chinese TV brands increase exports of products related to this size segment However, BOE from the end of last year’s third quarter has also kept lowering the share of the 32-inch in its product mix to expand its shipments of notebook panels SDC posted a 14% year-on-year drop for its TV panel shipments in the first half of 2017, totaling only 1841 million units SDC’s decline was the largest among the six major TV panel suppliers After the closure of the L7-1 plant, SDC’s monthly shipments of 40-inch products contracted by about a million units Also, the panel maker overhauled existing fabrication lines and installed new equipment during the year’s first half for the manufacturing of high-end UHD, 65-inch and 75-inch panel SDC’s production capacity was therefore severely limited in the period CSOT continues with its capacity expansion while AUO raises the yield rate of its Gen-85 fab TV panel shipments from China Star Optoelectronics (CSOT) totaled 1817 million units in the first half of 2017, up 222% year on year This growth was attributed to the capacity expansion of its second Gen-85 fab T2 in Shenzhen, China The T2 plant mainly produces 55-inch panels, and correspondingly CSOT posted a 468% year-on-year increase in its 55-inch shipments for this year’s first half Growths in this size segment also contributed to a 287% year-on-year increase in CSOT’s total shipped area for the six-month period AU Optronics (AUO) grew its TV panel shipments by 22% year on year in the first half of 2017, totaling around 1328 million units AUO has improved the yield rate and production volume of its Gen-85 fab L8B, which is located in Taiwan’s Taichung City and underwent an expansion last year Furthermore, AUO concentrated the production of 65-inch panels at its Gen-6 fab L6B, which is located in Taiwan’s Taoyuan City The panel maker was able to optimize the production flow of L6B despite the plant’s limited capacity As a result, the panel maker was able to push up its 65-inch shipments for the first half of 2017 by 429% year on year The company has remained competitive despite having smaller production capacity compared with the other five major suppliers

Press Releases
4K Penetration Surpassed 30% for First Time in 1Q17 LCD TV Panel Shipments, Says TrendForce

2017/04/24

Display

WitsView, a division of TrendForce, reports LCD TV panel shipments for this first quarter totaled 6016 million units, representing a drop of 107% compared with the prior quarter but also a year-on-year increase of 04% Looking at major trends in the TV panel market, the growing demand for 4K resolution is accompanying the steady increase in the average panel size Despite seasonal headwinds, first-quarter shipments of UHD (4K resolution) TV panels went up 05% sequentially to reach 20 million units for the first time ever and accounted for 333% of the total TV panel shipments Going into the second quarter, the TV panel demand is shifting from the 40- to 43-inch segment to the 55- to 65-inch segment “Prices in the 40- to 43-inch segment are too high for TV brands to create promotional offerings for China’s major sales events during the second quarter,” said Iris Hu, research manager of WitsView “Panels in the 55- to 65-inch segment on the other hand provide higher margins” Additionally, major international TV brands are aggressively positioning themselves in the 75-inch size segment With increasing market preference for larger sizes, shipments of TV panels for the second quarter is projected to record a small sequential growth of 1% in unit volume In terms of area, however, the growth over the first quarter is expected to be larger at 4% LGD retained first place in ranking for this first quarter while UHD penetration rates rose significantly in SDC’s and AUO’s shipments WitsView’s survey of TV panel suppliers for this first quarter shows LG Display (LGD) posted a 7% decline from last year’s fourth quarter with 1263 million units shipped LGD’s LCD TV panel shipments fell as the supplier adjusted the product mix for one of its Gen-85 fabs and allocated more of its production capacity to making OLED products The supplier also cut back on the production of monitor panels sized 215 inches wide and smaller and instead expanding production of monitor panels sized 238 inches wide and 27 inches wide This is also in response to monitor brands’ need for larger panels to raise their product margins In doing so, LGD also took away some of its Gen-85 capacity originally intended for TV panels Despite recording a noticeable decline, LGD was still first place in TV panel shipment ranking in this first quarter Against the prior three-month period, Innolux shipped 994 million units of TV panels this first quarter and registered a decline of 93% Demand for Innolux’s 395-inch products fell as TV brands reached their price limits for the mid-size segment While Innolux saw an increase in orders from Samsung Electronics for its 65-inch panels, the supplier was not able to significantly increase shipments for this size category due to low product yield rate BOE Technology (BOE) shipped about 941 million units this first quarter, amounting to a drop of 28% from the previous quarter Since September of 2016, BOE has been adjusting its product mix to increase the share of notebook panels at the expense of the 32-inch TV panels This has led to continuing decline in BOE’s TV panel shipments On the other hand, BOE significantly raised shipments of its 43-inch panels by 266% sequentially in the first quarter With its Gen-85 fab in Fouzhou, China, at the final preparation stage for mass production, BOE aggressively priced its 43-inch panels to entice TV brands TV panel shipments from China Star Optoelectronics Technology (CSOT) fell 33% this first quarter compared with last year’s fourth quarter to come to 897 million units There was no increase in CSOT’s production capacity during the first quarter, and the supplier’s shipments were further affected by seasonality However, CSOT did enjoy a 15% sequential growth for its UHD products owing to strong demand from TV brands To increase the margins of their TV set lineups, brands are increasingly using the UHD feature Samsung Display (SDC) went from being second place in the ranking to fifth place between last year’s fourth quarter and this year’s first quarter This plunge was mainly attributed to the closure of the L7-1 fab in the final month of 2016 Consequently, the supplier’s TV panel shipments for the first quarter suffered a sequential decline of 276%, totaling just around 886 million units Though SDC had a very poor overall performance, the company was ahead of its competitors in the shipments of 75-inch TV panels, growing the volume by 30% sequentially in first quarter to reach 130,000 units Also, SDC’s recent overhaul of its manufacturing equipment has led to a large shipment expansion for large-size UHD panels SDC actually became the first panel maker to surpass 50% in UHD penetration for TV panel shipments during this first quarter UHD-resolution products accounted for 528% of SDC’s TV panel shipments for the period AU Optronics (AUO) shipped around 663 million units in the first quarter, a 67% drop versus the prior quarter While AUO has limited production capacity, the company manages to stay competitive by increasing shipments of large-size and niche products Thus, AUO posted a 38% sequential increase in shipments of 65-inch and larger panels Furthermore, the UHD penetration in supplier’s first-quarter TV panel shipments came to 407%, up from 36% in last year’s fourth quarter

Press Releases
TrendForce Reports Shipments of 65-Inch LCD Panels Grew 4% in February Over Prior Month Despite Fewer Work Days

2017/03/23

Display

A total of 1871 million units of large-size LCD panels were shipped worldwide this February, according to WitsView, a division of TrendForce Fewer work days in February delayed some shipment deliveries to March Furthermore, shipments of panels belonging to the medium-to-small sections of the size spectrum have been constrained by the general price upswing Set against the prior month, large-size panel shipments declined by 58% in February A year-on-year comparison on the other hand shows a 46% increase Branded device vendors continue to shift their demand towards larger sizes, and February shipments of 65-inch panels advanced against the headwinds and went up 4% compared with January shipments Iris Hu, research manager of WitsView, said panel demand from Chinese brands has started to pick up again since the start of this March because they need to prepare for the major online promotion campaigns in April and Chinese Labor Day sales in May “Chinese brands will mainly be stocking up large panels sized 55 and 65 inches as they can add more to product margins,” said Hu “Conversely, brands are abandoning panels in the 40- to 43-inch size range Because of high prices, brands are unable to achieve profitability from using panels belonging to this size range” WitsView estimates that TV panel shipments in March will rise 10% from February For the entire first quarter, however, high prices will continue to impact shipments for small- and medium-size categories First-quarter TV panel shipments are projected to post a sequential decline of 11% to 12% Innolux suffered the smallest shipment decline among the six major panel makers in February as its shipments of 65-inch products rose over 30% Looking at February shipment results of the six major panel makers, LG Display (LGD) posted a 101% drop from the prior month, totaling 385 million units LGD postponed some deliveries to March Furthermore, its shipments of mainstream 43- and 55-inch products fell 128% and 114% respectively from January However, shipments of 65-inch panels remained steady due to demand from the group company LG Electronics and other first-tier brands Innolux posted a huge monthly shipment growth of more than 30% for its 65-inch panels in February because of strong demand from Samsung Visual Display At the same time, the company’s shipments of 236-inch panels increased significantly by 141% compared with January as demand for this size category returned in the emerging markets For the entire large-size panel shipments in February, Innolux registered a marginal decline of 19% from the prior month, totaling 313 million units This was the best result among the six major panel makers BOE Technology (BOE) shipped 293 million TV panels in February, down 62% from the previous month BOE’s shipments of 32-inch panels fell 10% monthly as its Gen-85 fab in Chongqing, China, adjusted its product mix The production of 32-inch TV panels was scaled back so that more of the fab’s capacity can be used to make notebook panels This move also helped BOE stabilize prices for its 32-inch products Furthermore, combined shipments of 48- and 49-inch panels from BOE also rose 94% from January Prices of panels in the medium-size range (40- to 43-inch) surged and peaked in recent months on account of decreasing market supply Branded device vendors in response shifted their demand to a larger size range, and this in turn benefited BOE’s shipments of 48- and 49-inch panels during February China Star Optoelectronics Technology (CSOT) was affected by the fewer number of workdays in February The company’s TV panel shipments for the month totaled 28 million units, down 78% from January Samsung Display (SDC) has been modifying its production processes and equipment to increase the share of high-end UHD-resolution panels in the product mix This move, which was to help compensate for the revenue loss following the closure of L7-1 fab at the end of last year, also indirectly affected SDC’s overall panel shipments For February, SDC shipped 272 million units of TV panels, representing a monthly decline of 55% The entire TV panel shipments from AU Optronics (AUO) fell 53% monthly in February to 21 million units However, there were increases for specific large-size categories Shipments 50-inch and the 55-inch UHD products respectively grew 20% and 74% compared with the prior month Demand for AUO’s large-size, high-end and niche products continues to grow due to long-term market development efforts by the company

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