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Press Releases
TrendForce’s TV Panel Shipments Ranking for 2016 Shows LGD Retained First Place While BOE Displaced Innolux to Take Third

2017/01/24

Display / Consumer Electronics

Global shipments of LCD TV panels for 2016 fell 35% from the prior year to around 2604 million units, according to the latest report by WitsView, a division of TrendForce Major panel makers expanded their Gen-85 production capacity during 2016 in response to the rising demand for larger TV panels The increased production in the large-size segments helped consume the overall panel capacity and increased the average size of TV panels by 22 inches to 436 inches Shipments of TV panels by area therefore actually increased by 65% annually WitsView expects the average size of TV panels to increase again in 2017 LG Display (LGD) maintained its position as the leading supplier of TV panels with 5294 million units shipped in 2016, a 43% drop versus 2015 “Last year, LGD invested heavily in expanding the capacity of its Gen-85 fab in Guangzhou, China,” said Iris Hu, research manager of WitsView “The panel maker also adjusted the product mix for its Gen-85 capacity as a whole, expanding the share of the 55-inch production while reducing the share of the 32-inch single-cut production” Though the product mix adjustment resulted in an annual decline in unit volume, shipments by area rose 53% compare with 2015 LGD moreover posted significant increases in large-size segments during 2016, with the combined shipments of 60- and 65-inch products soared by 98% annually This reflected the continuing trend of demand shifting towards larger sizes Samsung Display (SDC) shipped a total of 468 million units of TV panels in 2016, representing an annual decrease of 81% Though SDC was second in the ranking, its TV panel shipments fell significantly because of the challenges involving the adoption of the Black Column Spacer (BCS) technology during the first half of 2016 Furthermore, SDC closed its LCD fab L7-1 at the end of last year with the intention to refurbish the plant for the manufacturing of AMOLED panels used in smartphones “This move not only caused decline in TV panel shipments for SDC but also created anxiety over the supply of panels sized 40 to 43 inches,” Hu pointed out “The urgency to stock up on products belonging to this size range appeared last year and will continue well into this year” BOE Technology (BOE) posted an annual increase of 224% in its TV panel shipments for 2016, amounting to 4364 million units The panel maker achieved impressive shipment growth for the second consecutive year and surpassed Innolux to take the third place in the annual ranking for the first time Last year, BOE significantly increased the capacity of its Gen-85 fab in Chongqing, China While some of the added capacity in the Chongqing plant was for notebook panels, much of it was used to raise the share of 49- and 55-inch TV panels in the overall product mix BOE’s shipments by area therefore grew considerably as well, with the annual rate reaching 335% TV panel shipments from Innolux in 2016 fell by 193% to 4173 million units Innolux’s TV panel ranking tumbled from second place in 2015 to fourth place for last year because there was no major order for its 236-inch panels and the February earthquake in southern Taiwan interfered with the company’s original production and shipment plans However, Innolux has increased the share of large-size segments in its product mix so that it can main profitability with limited production capacity Hence, Innolux’s TV panel shipments by area fell by just 63% compared with 2015 China Star Optoelectronics Technology (CSOT) saw its TV panel shipments shot up last year after the panel maker finished expanding the production capacity of its second Gen-85 fab for the annual cycle CSOT’s shipments grew 297% annually in 2016 to reach 3309 million units In addition to raising its Gen-85 capacity, CSOT since last year also started to focus on shipping large-size products Thus, shipments of its 49- and 55-inch panels took off, respectively registering annual increases of 126% and 115% in unit volume CSOT moreover posted the largest increase in shipments by area compared with other TV panel suppliers with annual growth rate at 553% TV panel shipments from AU Optronics (AUO) reached 2722 million units in 2016, amounting to a marginal increase of 02% in unit volume but a significant increase of 107% in area compared with the prior year AUO managed to raise the production capacity of its fab L8B, which is assigned to make panels for large-size TVs and special high-end displays AUO moreover boosted TV panel shipments by changing the product mix of its Gen-6 TV panel capacity More weight was given to the 65-inch products, and this in effect reduced the share of Gen-6 capacity used for the 32- and 39-inch products Consequently, AUO’s unit shipments increased slightly but area shipments posted a much larger annual gain WitsView estimates that TV panel shipments for 2017 will reach 2578 million units Hu noted that the supply for products in the 40- to 45-inch range will be tight through this year as South Korean panel makers phased out a few of their fabs Furthermore, Sharp has stopped supplying panels from its Gen-10 fab in Sakai, Japan, to competing brands Samsung Electronics, which is Sharp’s largest client and accounts for 40% of its LCD panel shipments, will be forced to search for other supply sources WitsView anticipates that Samsung Electronics will be demanding 65- and 75-inch panels in the near future because it no longer can obtain the usual 60- and 70-inch products from Sharp Other TV brands will also be compelled to use larger panels Consequently, the average size of shipped TV panels in 2017 is projected to grow by nearly 2 inches to 454 inches, and the annual increase in shipped area for this year is estimated at 76%

Press Releases
LCD TV Panel Shipments Fell Just 0.9% Monthly in November as Chinese New Year Takes Over as Main Demand Driver

2016/12/22

Display

WitsView, a division of TrendForce, reports that global shipments of LCD panels for TVs totaled 2279 million units in November, representing a slight decrease of 09% compared with October Even though the stock-up demand related the North American holiday season and Singles’ Day in China receded during November, TV panel shipments remained strong as branded TV makers continued to replenish their inventories for the upcoming Chinese New Year sales “During this year, the global average price of 32-inch panels has risen over 40% from its monthly low,” noted Iris Hu, research manager of WitsView “Soaring prices in the 32-inch segment in turn have driven up production costs of mainstream-size TV sets, squeezing profits of both TV makers and retailers in channel markets” In response to this situation, TV brands since October have started to focus more on promoting TV sets larger than 32 inches This shift towards larger models led to the small decrease in unit shipments of TV panels in November Panel shipments by area, however, have been relatively stable during the month as TV brands lay the groundwork for Chinese New Year sales following the year-end holiday season LG Display (LGD) achieved a new monthly high in its TV panel shipment for this year in November with unit volume totaling around 495 million Set against the prior month, LGD grew its TV panel shipment by 84% LGD has developed a significant presence in China’s TV panel market and cultivated close relations with local first- and second-tier brands (and with OEMs) Even as panel orders for the North American holiday season were winding down, LGD could continue to expand its shipments on the back of another wave of peak season demand related to the Chinese New Year LGD’s November shipments also reflected increasing demand for large-size and UHD TV panels in China The panel maker’s shipments of products sized 55 inches and larger increased 13% on average compared with the prior month For just the 55-inch size segment, monthly shipments jumped 17% Going forward, the trend of TV panels getting larger will become even more noticeable Additionally, UHD resolution products represented 45% of LGD’s TV panel shipments in November This means that LGD currently has the highest UHD penetration rate for its TV panels compared with its competitors From the start of this year’s second half to the end of November, monthly shipments of 40-inch TV panels from Samsung Display (SDC) reached 15 to 155 million units SDC kept the 40-inch shipments at a high level as to meet the demand from TV brands that want to stock up on this product in advance of the closure of SDC’s L7-1 fab at the end of year SDC has also seen rising demand for its 55- and 65-inch panels on account of year-end promotions by TV brands Nonetheless, the conclusion of stock-up activities for Christmas holidays caused SDC’s total TV panel shipments for November to dip a bit by 06% compared with October, totaling around 442 million units TV panel shipments from Innolux in November amounted to 35 million units, down 76% from the prior month Innolux earlier had arranged collaborative projects with TV brands to sustain shipments of its 236-inch panels However, these projects ended in the third quarter, and shipments of the product began sharply in the fourth quarter with monthly declines averaging 25% On other hand, Innolux enjoyed strong shipments of its 395-inch panels The pending closure of Samsung’s L7-1 fab, which produces 40-inch panels, has triggered a wave of demand for the 395-inch To increase shipments, Innolux adjusting the capacity utilization of its two Gen-6 fabs so that more of their capacity goes to the production of 395-inch panels rather than the larger 65-inch panels For a long time, Innolux has been unable to raise the yield rate of the 65-inch panel production to an ideal level This adjustment therefore will relieve the cost burden related to the persistent low yield of the 65-inch while fulfilling the orders for the 395-inch TV panel shipments from China Star Optoelectronics Technology (CSOT) took off after the panel maker completed capacity expansion for its second Gen-85 fab Since this August, CSOT’s monthly TV panel shipments topped 3 million units on average In terms of ranking, CSOT was finally able to move up within the top six TV panel suppliers by gradually widen its lead over AU Optronics (AUO) and catching up to BOE Technology (BOE) CSOT’s TV panel shipments came to 307 million units in November, up 07% from the prior month and exceeding BOE’s figure slightly by 3,000 units This result put CSOT in the fourth spot of the global monthly TV panel shipment ranking for the first time BOE’s TV panel shipments for November were around 307 million units, representing a monthly decrease of 104% BOE has registered five consecutive months of decline for its TV panel shipments since July, and the downtrend will continue as the panel maker has assigned more its available capacity to make notebook panels this fourth quarter BOE’s 32-inch panel shipments in November were around 194 million units, down 30% from this year’s monthly peak of 278 million units The sharp drop in the 32-inch segment has had a huge impact on the entire TV panel shipments for BOE AUO’s TV panel shipments in November fell 1% compared with October to 238 million units The small decline was caused by the panel maker’s decision to allocate some its Gen-6 capacity for attaching polarizer to 75- and 85-inch panels AUO’s monthly TV panel shipments, however, have gone up to an average level of 24 million units since the third quarter, when the panel maker’s L8B facility returned to full operation after completing its capacity expansion With the expanded fab, AUO was able to raise 55-inch panel shipments by almost 30% from the second quarter to the fourth quarter of 2016 Hu pointed out that shipments of TV panels in December are going to fall “Due to requests from clients, LGD delivered most of its December panel shipments in advance,” said Hu “This, along with the closure of Samsung’s L7-1 fab, will cause a 9% monthly drop in the global TV panel shipments” Looking at the entire 2016, WitsView estimates that TV panel shipments by unit will total around 2595 million, down 38% compared with 2015 However, shipments by area will expand by 69% annually owing to the increasing demand for larger TV panels “The average size of LCD TV panels will reach 436 inches this year, which is 22 inches more than last year’s average,” said Hu

Press Releases
Large-Size LCD Panel Shipments Fell Just 2.4% Monthly in October as Vendors Continue to Stock Up for Promotional Events, Says TrendForce

2016/11/22

Display

Though panel shipments were strong in October, they represented a monthly drop from the much larger shipments in September WitsView, a division of TrendForce, reports that October shipments of large-size panels (sized 7 inches and above, resolution at WSVGA and above) totaled 6683 million units, down slightly by 24% compared with the prior month According to WitsView, large-size LCD panel shipments in October were supported by demand in China, where branded device vendors extended their promotional sales period for the fourth quarter Likewise, panel demand in North America was also sustained by the stock-up activities before the holiday period Furthermore, the presidential election in the US had triggered a wave of replacement demand for PCs from the country’s government and military organizations Global TV panel shipments for October totaled 2301 million units, down 03% from September “The scheduled closure of a Samsung fab has caused the supply to tighten and prices to rise for panels sized 40 to 45 inches,” said Iris Hu, WitsView research manager “To avoid high panel costs and improve profitability, TV brands have shifted their attention to the larger size segments As a result, monthly shipments of panels sized 55 inches and above expanded 3% in October, countering to the trend of decline LG Display (LGD) retained its first-place position in the monthly TV panel shipment ranking with 456 million units shipped, representing a drop of 35% compared with September’s shipments LGD posted a decline in TV panel shipments mainly because the panel maker has allowed some deliveries to be made ahead of schedule before October as to allow several TV brands to launch their products early Among the six largest panel makers worldwide, China-based BOE Technology (BOE) suffered the largest monthly decline in TV panel shipments during October BOE had changed its product mix and allocated more of its production capacity to the making of notebook panels Hence, BOE’s TV panel shipments for the month arrived at 342 million units, translating to a decline of 55% compared with the prior month In the monitor panel market, demand is tapering off as monitor brands are finishing up stocking up for the year-end holiday period Moreover, monitor brands are struggling to maintain profitability as the average price of mainstream 215-inch panels has increased by almost 15% during the past five months To offset panel costs, some brands have raised prices for their monitor sets Global shipments of monitor panels for October fell 18% monthly to 12 million units as brands became more conservative in their panel purchases LGD in particular saw its monitor panel shipments drop 88% from the prior month to 324 million units The larger September shipments and capacity utilization rate issues led to this unusually sharp decline BOE for the first time became the leader in monthly notebook panel shipments Shipments of notebook panels in October came to 1491 million units, representing a drop of 54% versus the prior month Demand slowed down as notebook brands finished stocking up for their year-end sales events However, BOE was able to achieve a new monthly high in notebook panel shipments, registering an increase of 88% to 391 million units For the first time, BOE managed to surpass LGD and became the leader in the notebook panel market “BOE benefitted from the US market, where government and military agencies were busily replacing their computer systems ahead of the presidential election,” Hu noted “This wave of replacement demand also lifted the demand for HD resolution, Twisted Nematic (TN) panels belonging to mainstream-size categories Additionally, South Korean panel makers have scaled back their HD TN panel production, so BOE was able to pick up additional orders and greatly expand its notebook panel shipments” With the tablet market becoming saturated, branded tablet makers have less drive to stock up for the year-end holiday season Thus, tablet panel demand during the traditional busy period has been falling on yearly basis This October, however, saw US brands and white-box vendors expanding and extending their stock-up activities in preparation for a big promotional push during the Christmas holidays Monthly shipments of tablet panels therefore reached 1691 million units in October, down just 31% from September On the back of Apple’s demand, LGD increased its tablet panel shipments by 7% compared with the prior month to 24 million units Also, Amazon’s aggressive promotion of its low-price tablets caused shipments of 7-inch WSVGA panels from Taiwan’s Chungwha Picture Tubes (CPT) to register a huge monthly increase of 333% On the whole, CPT’s tablet panel shipments for October rose 85% over the prior month to 351 million units “As the busy stock-up period is about to finish, branded device makers are under greater to pressure to keep their inventories low at the end of year,” Hu pointed out “They therefore will be more conservative in their panel purchases” Furthermore, major panel makers are revamping their production facilities and adjusting their product mixes, so there is going to be some loss in the overall panel production capacity Looking ahead, panel market will see shipments in different application segments corrected downward during November Tablet and monitor panel shipments will fell 2~3%, respectively, compared with October Chinese TV brands will sustain TV panel shipments in November as they address the issue of tight supply for mid-size panels and continue to stock up for the next Chinese New Year holidays Therefore, global TV panel shipments for November will fall only by 1~2% compared with the prior month As for notebook panel shipments, they are expected to stay constant in November because of a flurry of notebook orders from governments worldwide

Press Releases
TrendForce Reports Large-Size LCD Panel Shipments Grew 9.3% Monthly in August Ahead of Peak Season

2016/09/22

Display

WitsView, a division of TrendForce, reports that large-size LCD panel shipments for this August reached 6884 million units, representing a monthly increase of 93% The growth was attributed to TV and IT brands stocking up for the upcoming promotional sales events A comparison of results by panel applications also show that tablet panels registered the largest monthly shipment increase at 25% However, monthly large-size panel shipments for this September is expected to correct downward slightly as most branded device vendors have already made their panel purchases in advance  According to WitsView’s survey of the TV panel market, successive months of rising panel prices have caused concerns among branded TV set makers that increasing costs of panels would erode their product margins To avoid larger price increases in the future, TV brands have kept expanding their panel purchases As a result, global TV panel shipments reached a new monthly high for this year in August, growing by 36% to 2361 million units  “Innolux made an effective change to the product mix of its Gen-6 fabs, decreasing their production of 65-inch panels as to free up more capacity to take on the production of 395-inch panels,” said Iris Hu, research manager of WitsView “As a result, the panel maker grew its TV panel shipments by 9% monthly in August to around 381 million units Additionally, Innolux is seeing increases in the prices for its TV panels” Hu also noted China Star Optoelectronics Technology (CSOT) achieved a new record in its monthly TV panel shipments: “CSOT saw a surge of demand from its group company TCL during August and its 32-inch TV panel shipments surpassed the 2 million unit mark for the first time CSOT’s total TV panel shipments for the month were 307 million units, up 75% monthly” In the monitor panel market, strong stock-up demand from IT brands kept the August shipments on the same level as in July, totaling around 1237 million units Owing to US-based vendors restocking their inventories and readying for the peak season, shipments of 238-inch monitor panels registered four consecutive months of growth, with volume in August growing by 94% sequentially to about 134 million units The 238-inch size segment also became the second-largest size segment in the monitor panel market in August as its shipments surpassed those of the 195-inch It is expected that the 238-inch will remain as one of the monitor market’s mainstream sizes Additionally, the high demand for large-size monitors from Internet cafés in China caused shipments of 315-inch panels in August to register above expected growth of over 40% monthly, with volume exceeding 286,000 units  As for the notebook panel market, Chinese and US branded notebook vendors are busily purchasing panels so that they can achieve their shipment targets for the Black Friday sales and the quarterly period Their demand drove the August notebook panel shipments to 1511 million units, up 11% monthly Notebook panel prices have also been rising due to a shortage of HD resolution panels of twisted nematic (TN) type The supply shortage has benefitted major suppliers of that particular panel products Notebook panel shipments from BOE Technology (BOE) and Innolux grew 258% and 161% over the prior month in August to reach 349 and 353 million units, respectively Tablet panel shipments for August grew significantly by 25% compared with the previous month, amounting to 1775 million units LG Display (LGD) expanded its tablet shipments by 478% monthly to 239 million units LGD’s 97-inch tablet panel shipments were the main contributor to the impressive performance as they rose 65% monthly on the back of strong demand from Apple  Taiwan-based Hannstar’s completed its recovery from the earthquake that struck the southern part of the island in this year’s February The supplier’s tablet panel shipments not only stabilized in August but also soared 1244% monthly to 138 million units on account of demand from white brand vendors BOE, which focuses on the white brand tablet market as well, saw its tablet panel shipments surged by 845% monthly in August to 31 million units The effects of the coming peak season boosted demand from device vendors and restored BOE’s tablet panel shipments to the same level as they were earlier this year  “TV and IT brands are continuing to stock up this September in preparation for the peak season,” said Hu “However, panel prices have already risen significantly over the last few months, and branded device vendors have already made considerable purchases in advance These factors will cause a slight downward correction for the overall panel shipments WitsView projects that respective monthly shipments of panels for TVs and notebooks will drop by 1~2% in September compared with the prior month, while shipments of panels for monitors and tablets will separately post a monthly decline of 3~4%"

Press Releases
Monthly TV Panel Shipments Saw 5% Monthly Growth in July as Panel Prices and Purchases Rose Ahead of Peak Season, Says TrendForce

2016/08/18

Display

The latest large-size LCD panel shipment report by WitsView, a division of TrendForce, says shipments of LCD TV panels totaled 228 million units in July, representing a 5% increase from June and a 22% year-on-year increase As the TV market enters the peak sales season, branded TV vendors are focusing on stocking up for their promotional activities Rising panel prices are also spurring them to replenish their inventories Consequently, the surge of demand in the TV panel market has begun earlier than usual  “The stock-up demand is going to peak in August as TV brands get ready for promotional events related to Black Friday sales  and upcoming Chinese national holidays,” said Iris Hu, research manager of WitsView “In response, panel makers have raised their capacity utilization rates , and global TV panel shipments will continue to grow Furthermore, panel supply tightened during the first half of this year Some TV brands were unable to make sufficient panel purchases, causing their shipments to fall below expectations In this year’s latter half, TV brands will therefore keep up their panel purchases as to achieve their annual shipment targets On the whole, WitsView expects third-quarter TV panel shipments to increase by 8~9% compared with the second quarter” SDC resolved issues surrounding its process migration and grew its monthly shipments by 115% Looking at TV panel shipments for July, LG Display (LGD) shipped around 449 million units, translating to a monthly growth of 57% LGD’s shipments benefited from the expanded capacity of its Gen-85 fab in Guangzhou, China There was also the strong demand from TV brands pertaining to the Black Friday sales LGD’s 55-inch and 65-inch panel  shipments therefore rose 152% and 131% respectively compared with the prior month to 864,000 and 181,000 units The monthly growth rates for both size categories were record highs for the panel maker Samsung Display (SDC) encountered difficulties as it transitioned to another manufacturing process during the first half of this year The panel maker finally resolved the related issues in July and saw its monthly large-size panel shipments increased 115% to 446 million units Shipments of 40-, 55- and 65-inch panels also registered monthly increases of over 15% respectively as TV brands continued to stock up for holiday events, refill their inventories and prepare for new product launches SDC will shut down its L7-1 fab at the end of this year, but before that the fab’s capacity will be fully loaded Thus, SDC’s 40-inch panel output  is expected to reach a high of 15~16 million units per month from this July to November The L7-1 fab will then wind down production entering December and completely shut down by the end of the year According to WitsView’s analysis, SDC’s supply of 40-inch TV panels for next year will be almost 70% lower than that of this year due to the closing of this fab BOE Technology (BOE) was the only one among the six major panel suppliers to post a drop in TV panel shipments in July Due to the rising demand in the IT market, BOE has allocated more of its Gen-85 capacity towards IT panels at the expense of its TV panel production Furthermore, BOE extended the base shipment period for June to improve the shipment result for that month  Hence, BOE’s TV panel shipments in July fell slightly by 1% from the prior month to 4 million units  Innolux saw a monthly increase of 18% for its TV panel shipments in July, amounting to 349 million units Innolux this year has to find other channels for its 236-inch TV panels as orders from Mexico stopped coming Starting in the second quarter, Innolux has worked with TV brands to prop up the demand for the 236-inch panels and developed markets in other regions, including Southeast Asia and the emerging markets As a result, the Taiwanese panel maker saw a massive monthly growth of 742% for its 236-inch shipments in July – a remarkable feat and the culmination of aggressive efforts to drive shipments for this size category China Star Optoelectronics Technology (CSOT) registered a monthly growth of 91% for its July TV panel shipments, totaling around 286 million units The capacity expansion of one of CSOT’s Gen-85 fabs for this year has been ahead of schedule This resulted in a 225% monthly increase in CSOT’s 55-inch panel shipments in July and expanded the panel maker’s large-size panel shipments as a whole AU Optronics (AUO) posted a small monthly increase of 08% for its July panel shipments, amounting to 226 million units For several months, AUO has seen its Gen-75 and above fabs running at full capacity to fulfill orders from TV brands that are restocking their inventories and planning for the upcoming peak season Despite the strong demand, AUO’s shipment growth has been constrained by its limited production capacity

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