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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

Press Releases
Large-Size LCD Panel Shipments Were Strong Across All Applications in May and Posted Monthly Growth of 6.5%, According to TrendForce

2016/06/22

Display

The latest LCD panel shipment report from WitsView, a division of TrendForce, finds large-size panel shipments totaled 6025 million units in May, up 65% from the prior month The strong monthly shipments across all applications were attributed to the anticipation of rising prices and increased inventory-replenishment efforts Among the applications, the notebook panel market had the best shipment performance Looking at June, WitsView Research Manager Iris Hu said that panel prices have been on the rise, so branded device vendors are stocking up earlier for the coming peak season in order to lower their procurement costs TV and monitor panel shipments are expected to grow by 3~4% on a monthly basis, respectively Notebook panel shipments in June will either remain steady or dip slightly by 1% monthly because some orders for this month have been shifted to May Furthermore, US-branded vendors will also be making season inventory adjustments As for tablet panels, demand is gradually returning and shipments are projected to expand 6~7% monthly SDC posted a 175% monthly increase in TV panel shipments while BOE’s monitor panel shipments reached a historic high of 248 million units TV panel shipments in May grew 14% monthly to 211 million units Samsung Display (SDC) in the second quarter switched to the Color Filter on TFT Array (COA) process and raised its yield rate significantly The South Korean panel supplier shipped 383 million units of TV panels, representing a monthly increase of 175% Innolux’s fabs in southern Taiwan had fully recovered from earthquake damages and were fully operational in May In addition, the panel maker has replaced the 395-inch panel with the 65-inch as the main product for its Gen-6 fabs While Innolux’s overall TV panel shipments grew only 37% monthly in May to 36 million units, the panel maker posted its largest shipment increase for the 65-inch TV panel since June last year, totaling at 150,000 units Monthly monitor panel shipments reached 1199 million units in May, up 7% from the prior month Branded monitor vendors have experienced low inventory recently because panel makers on account of low margins have scaled back their production of monitor products sized 215 inches wide and under Furthermore, panel prices have started to recover after hitting bottom, and they are anticipated to go up even further in July, when the Energy Star Version 70 standards become effective Hence, monitor vendors are spurred to replenish their inventories in advance Monitor panel shipments from BOE Technology (BOE) reached a record high in May, registering a monthly growth of 88% at 248 million units Other Taiwanese and South Korean panel makers have adjusted capacities to focus on more profitable size segments, so a lot of monitor panel orders were transferred to BOE Notebook panel shipments surged 379% monthly for Innolux; SDC and LGD saw declines in tablet shipments due to poor sales of the 97-inch iPad Pro After SDC announced it will cut back the production of HD TN panels of all sizes, branded notebook vendors moved their purchasing schedule forward to second quarter in order to avoid possible supply shortage in the peak season later on Hence, May’s notebook panel shipments grew 177% monthly to 1388 million units Innolux in particular shipped 347 million units, amounting to a huge monthly increase of 379% The Taiwanese panel maker had to postpone its FHD panel deliveries after the February earthquake and instead relied on HD TN products to maintain its capacity utilization rate for a short duration This move produced an unexpected shipment growth as HD TN panel orders that Samsung could not fulfill were redirected to Innolux Likewise, BOE benefitted from the surge of HD TN panel orders since FHD panels account for a relatively small share of the panel maker’s product mix May’s notebook shipment result was also a historic high for BOE as it delivered 252 million units, up 275% from April In the tablet panel market, SDC and LG Display (LGD) faced serious challenges in May The two South Korean panel makers were the main suppliers for Apple’s 97-inch iPad Pro, which hit its peak shipments soon after the market release Shipment forecasts of this product were then significantly lowered following the brief market success, and SDC’s and LGD’s respective tablet panel shipments fell over 30% monthly as a result Conversely, panel orders from other branded and white-box vendors were steady in May because they have already adjusted their inventories in the first quarter Also, prices of low-end panel products for tablets have been on a stable trend as non-Apple branded vendors upgraded the display resolution specs of their devicesThe overall tablet panel shipments in May therefore grew 4% monthly to 1328 million units

Press Releases
TrendForce Reports April’s TV Panel Shipments Saw 7.2% Monthly Drop as Restocking Demand for Chinese Labor Day Sales Tapers Off

2016/05/23

Display

According to the latest large-size panel report by WitsView, a division of TrendForce, TV panel shipments arrived at 2082 million units in April, translating to a 72% drop from March and 5% drop from a year ago Branded TV set vendors began to replenish their inventories for the Chinese Labor Day sales earlier in March This resulted in weaker panel shipments for April, when vendors had just about completed this phase of inventory activities  WitsView Research Manager Iris Hu said branded TV set vendors have been stocking up on TV panels sized 43 inches and under for some time, and prices of these size segments have also been rising in May due to tight market supply Vendors are also more willing to increase their purchases of panels sized 48 to 50 inches as these products experienced a significant price decline that led to the rebalance of their supply and demand  In other size categories, prices of 55-inch TV panels are anticipated to rise as TV brands have concentrated on this size bracket for promotion and new product releases, while the South Korean and Taiwanese panel makers will be focusing on the 65-inch segment this year Based on these trends, WitsView expects TV panels shipments in May to post a small monthly increase of 2~3%  Innolux rapidly expanded 4K panel shipments by over 70% while recovering from the February earthquake LG Display (LGD) was still the leading TV panel supplier in April, though the panel maker’s shipments were down 8% from a month ago to 440 million units LGD plans to shift some of its IT panel products from one of its Gen-6 fabs to a Gen-85 fab before the end of June, and this in turn is having an impact on the company’s TV panel capacity The panel maker also decided to cut the production of the 32-inch TV panel In sum, the activities related to production planning, together with the end of restocking activities for Chinese Labor Day sales, have resulted in weaker TV panel shipments for LGD in April Known for pursuing high shipment volumes, BOE Technology (BOE) posted a disappointing result in April after its excellent performance in March The Chinese panel maker shipped 363 million units of TV panels, representing a 204% monthly decline Shipments of 236-inch panels in particular fell by more than 80% because the inventory for this size had already been depleted in March BOE lost additional momentum in April when TV brands began to cease filling their inventories for the Chinese Labor Day sales Taiwanese panel maker Innolux shipped 347 million units of TV panels in April, up just 68% from the prior month While Innolux gradually put its fabs back to operation following the February earthquake, aftershocks had affected the fabs’ yield rates, causing shipments to fall below market expectations To improve the revenue situation, Innolux has stepped up shipments of large-size 4K panels for high-end TVs Consequently, the panel maker grew its 4K product shipments by over 70% monthly, almost reaching last year’s peak of 700,000 units Innolux’s shipments will again surge ahead in May when its fabs are likely to be fully recovered from the earthquake Samsung Display (SDC) saw a monthly drop of 65% in its TV panel shipments, amounting to just 326 million units SDC continues to have issues with its new manufacturing process and is now considering shutting down a Gen-7 fab after posting a poor first-quarter financial report This Gen-7 fab mainly produces 40-inch panels that make up nearly 40% of the panel maker’s total TV product shipments Hu said SDC has been losing money making this product for some time due to its uncompetitive cost structure, so the company may be contemplating abandoning this size category to prevent further losses China Star Optoelectronics Technology (CSOT) has cut the production of its 32-inch product and shifted its production capacity to making larger TV panels, including the 43-, 49- and 55-inch CSOT’s shipments in April fell 6% monthly to 245 million units TV panel shipments from AU Optronics (AUO) reached its peak for the 24-month period in March as TV vendors’ reloaded their inventories and prepared for the launch of new models While AUO continued to enjoy strong demand for its popular panel sizes in April (eg the 43-, 50- and 55-inch), it lacked capacity to fulfill all of its customers’ orders AUO’s shipments for the month totaled 233 million units, representing a monthly decline of 69%

Press Releases
BOE Grew Its Monthly TV Panel Shipments by 1.2% in Feb. and Surpassed Innolux to Take No. 3 Supplier Spot Despite Seasonality, Says TrendForce

2016/03/17

Display

The latest large-size panel shipment report by WitsView, a division of TrendForce, says TV panel shipments for this February totaled 1788 million units, representing a monthly decline of 87% and a year-on-year decline of 83% In addition to seasonal influence, the Chinese New Year holidays and the earthquake that struck Taiwan on February 6 all contributed to the shipment slump Iris Hu, WitsView research manager, expects TV panel shipments to recover during March as Innolux’s fabs in Taiwan resume normal operation and panel makers begin to fulfill orders left from February Another driving force will be TV brands stocking up panels for new product models According to WitsView’s latest estimates, March’s TV panel shipments will grow by almost 20% compared with February However, first-quarter shipments are projected to suffer a near 15% drop compared with the previous quarter as the market for TV sets remains generally weak Off-peak season and delivery delays led to poor shipment results for panel makers in February LG Display (LGD) still topped the TV panel shipment ranking in February, but the panel maker has strategically cut its 32-inch panel production to avoid incurring a loss Currently, the average price of the 32-inch panel is close to the product’s cash cost Also, the Chinese New Year holidays had reduced the number of work days in February and caused delay in some orders Consequently, LGD’s TV panel shipments fell 81% monthly to 383 million units Samsung Display Corp (SDC) posted a marginal monthly decline of 18% in its February shipments of TV panels, amounting to 338 million units SDC’s January shipments were lower than expected due to delays in the client verification process for new panel products As a result, the South Korean panel maker had a shorter base period for February shipments Moreover, Taiwan’s earthquake disrupted the supply of 395-inch panels from Innolux, forcing TV brands to use SDC’s 40-inch panels as the alternative This shift in orders helped keep up SDC’s overall TV panel shipments during February BOE Technology (BOE) was the only supplier that increased its TV panel shipments against the seasonal headwinds in February with a monthly growth of 12% at 324 million units BOE’s shipments were driven by the rising yield rates for large-size panel manufacturing and the demand for 32-inch panels, which helped the Chinese panel maker to maintain a high capacity utilization rate At the same time, Innolux’s shipments were sharply reduced by the earthquake in Taiwan This allowed BOE to move up to the No 3 spot in the shipment ranking, with a volume difference of less than 150,000 units compared with the second-placed SDC Innolux’s Fab 5 and Fab 6 in southern Taiwan suffered serious damage caused by the earthquake and were almost completely out of commission during February Fab 6 in particular is a major production facility for the 395-inch TV panels Besides the earthquake, Innolux’s shipments were also impacted by the seasonality and the absence of orders for the 236-inch panels Overall, the Taiwanese panel maker delivered 266 million units of TV panels in February, resulting a significant monthly decline of 219% TV panel shipments of China Star Optoelectronics Technology (CSOT) fell 89% monthly to 229 million units Besides being affected by seasonality, CSOT had to cut its 32-inch panel shipments as the margin of this product was no longer profitable for the supplier   AU Optronics (AUO) shipped 176 million units of TV panels in February, down 81% from the previous month Fewer work days in February meant that AUO had to delay fulfilling some of its customers’ demand until March

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