Large-Area TFT LCD Shipments Flat in the Third Quarter; Revenues Fell by 2%

2011 Likely to be First Time LCD TV Panel Shipments Decline

Sort Date: 11152011

SANTA CLARA, Calif., November 15, 2011—Shipments of large-area TFT LCD panels were 185.5 million in Q3’11, unchanged from Q2’11, but up 12% Y/Y. Revenues reached $19.2 billion, down 2% Q/Q and 11% Y/Y. According to the DisplaySearch Quarterly Large-Area TFT LCD Shipment Report, panel makers are targeting a very modest 2% growth in shipments for Q4’11, as downstream manufacturers and brands are expected to prepare for the holiday season. Revenues are not expected to grow, however, because panel prices are still not showing signs of a rebound.

The TFT LCD industry has been in over-supply for six quarters in a row, and while panel prices rebounded slightly in Q2’11, it was only short term,” noted David Hsieh, Vice President, Greater China Market, DisplaySearch. “Q3’11 panel shipment growth has been hampered by stagnant economic conditions, especially for IT products and TVs. Panel makers did not achieve their goal of growing Q3’11 shipments 7% Q/Q, and slow demand has been eroding panel prices in Q3’11.”

According to DisplaySearch estimates based on panel makers’ shipment targets in Q4’11, 209 million LCD TV panels will be shipped in 2011, 5% less than the 220.8 million shipped during 2010. This would make 2011 the first year that LCD TV panel shipments decreased.

In Q3’11, only notebook and tablet PCs panel shipments increased Q/Q. As in Q2’11, tablet PC demand showed the strongest momentum, up 21% Q/Q and 246% Y/Y, while notebook PC panel shipments grew by 4% and 22%, respectively. Monitor panel shipments fell by 5% Q/Q, LCD TV panel shipments were nearly flat, and mini-note panel shipments fell 30% Q/Q.

Table 1: Large-Area TFT LCD Shipments by Application (Millions)

Application

Q2’11
Actual

Q3’11
Actual

Q4’11
Forecast

Q3’11
Q/Q Growth

Q4’11
Q/Q Growth

LCD Monitor

50.9

48.4

48.9

-5%

1%

Notebook PC

48.6

50.4

50.0

4%

-1%

Mini-Note

9.4

6.6

4.9

-30%

-25%

Tablet

17.1

20.7

23.7

21%

15%

LCD TV

52.5

52.8

54.5

0%

3%

Public Display

0.8

0.7

0.7

-11%

-1%

Others

2.8

2.7

2.7

-4%

-1%

Total

182.2

182.3

185.5

0%

2%

Source: DisplaySearch Quarterly Large-Area TFT LCD Shipment Report

With the exception of notebook and tablet PC panels, revenues were down Q/Q for all applications due to panel price declines. Monitor, mini-note PC, and LCD TV panel revenues fell by 5%, 34%, and 2%, respectively. For mainstream LCD panels, prices have approached cash costs of the panel makers.

Table 2: Large-Area TFT LCD Revenues by Application (US$ Billions)

Application

Q2’11
Actual

Q3’11
Actual

Q4’11
Forecast

Q3’11 Q/Q
Growth

Q4’11 Q/Q
Growth

LCD Monitor

$3.8

$3.6

$3.6

-5%

-1%

Notebook PC

$2.3

$2.4

$2.3

2%

-2%

Mini-Note

$0.3

$0.2

$0.1

-34%

-31%

Tablet

$1.2

$1.3

$1.5

12%

16%

LCD TV

$11.3

$11.1

$11.1

-2%

0%

Public Display

$0.2

$0.2

$0.2

-4%

0%

Others

$0.3

$0.3

$0.3

-5%

-6%

Total

$19.5

$19.1

$19.2

-2%

0%

Source: DisplaySearch Quarterly Large-Area TFT LCD Shipment Report

The DisplaySearch Quarterly Large-Area TFT LCD Shipment Report covers the entire range of large-area panels shipped worldwide and regionally. The report analyzes historical shipments and forecast projections with 100% coverage of panel makers. Authored by industry experts, the Quarterly Large-Area TFT LCD Shipment Report provides some of the industry’s most detailed information and insights. It is delivered in PowerPoint and includes Excel-based data and tables. For more information on this report, please contact Charles Camaroto at 1.888.436.7673 or 1.516.625.2452, or contact@displaysearch.com or contact your regional DisplaySearch office in China, Japan, Korea or Taiwan.

About DisplaySearch
Since 1996, DisplaySearch has been recognized as a leading global market research and consulting firm specializing in the display supply chain, as well as the emerging photovoltaic/solar cell industries. DisplaySearch provides trend information, forecasts and analyses developed by a global team of experienced analysts with extensive industry knowledge and resources. In collaboration with The NPD Group, its parent company, DisplaySearch uniquely offers a true end-to-end view of the display supply chain from materials and components to shipments of electronic devices with displays to sales of major consumer and commercial channels. For more information on DisplaySearch analysts, reports and industry events, visit us at http://www.displaysearch.com/. Read our blog at http://www.displaysearchblog.com/ and follow us on Twitter at @DisplaySearch.

About The NPD Group, Inc.
The NPD Group is the leading provider of reliable and comprehensive consumer and retail information for a wide range of industries. Today, more than 1,800 manufacturers, retailers, and service companies rely on NPD to help them drive critical business decisions at the global, national, and local market levels. NPD helps our clients to identify new business opportunities and guide product development, marketing, sales, merchandising, and other functions. Information is available for the following industry sectors: automotive, beauty, commercial technology, consumer technology, entertainment, fashion, food and beverage, foodservice, home, office supplies, software, sports, toys, and wireless. For more information, contact us or visit http://www.npd.com/ and http://www.npdgroupblog.com/. Follow us on Twitter at @npdtech and @npdgroup.

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