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Corning says LCD glass sales fell in November

Posted: 07 Dec 2004 ?? ?Print Version ?Bookmark and Share

Keywords:corning? lcd glass? lcd tv?

Corning Inc. announced Thursday (Dec. 2) that LCD glass shipments dropped in November and could result in LCD glass sales remaining flat from the previous quarter.

Speaking at the CSFB Technology Conference in Scottsdale, Ariz., vice chairman and chief financial officer James Flaws said glass shipments weakened in Taiwan, putting an end to a situation where the Corning, materials and components supplier was sold out on LCD glass capacity.

"We now believe our fourth quarter sequential LCD volume growth will be up 3 percent at best and could be flat with the previous quarter," Flaws told analysts.

LCD makers and material suppliers continue to invest upwards of millions of dollars in equipment and fabs to meet a projected upward demand spiral for flat-panel LCD TVs. Corning earlier announced it would expand its glass production capacity in Taiwan. In addition, LG.Philips LCD just announced it would invest billions in its Korean LCD plant despite lower sales the last quarter.

Historically, the LCD market has undergone alternating cycles of tight supply and booming demand followed by oversupply and slumping demand. With the market now in a down cycle, LCD suppliers have cut prices on panels and monitors, noted market research firms iSuppli Corp. and DisplaySearch Inc.

Corning's Flaws said weakening LCD glass shipments in Taiwan were not uniform among customers and enabled the company to reallocate glass supplies. In addition, LCD glass shipments at Corning's equity venture, Samsung Corning Precision Glass Co., Ltd, Korea, remain strong according to Flaws.

- Spencer Chin

EE Times





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