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Corning expects LCD glass market to grow 40 percent through 2007

Posted: 08 Feb 2005 ?? ?Print Version ?Bookmark and Share

Keywords:liquid crystal display? lcd? corning technologies?

Corning Inc. is telling investors at its annual investor conference in New York Friday (Feb. 4) it expects the liquid crystal display (LCD) glass market to grow between 40 to 60 percent this year and continue growing at a compound annual rate of 40 percent through 2007.

Peter F. Volanakis, president of Corning Technologies, notes that while most of the recent growth in LCD glass has been in desktop monitors and notebook computers, LCD television will spur a third wave of glass demand.

Volanakis is making the optimistic projections despite a recent slowdown in the LCD market that saw Corning's LCD glass sales slow the fourth quarter and LCD suppliers such as a href=""> LG.Philips LCD see their profits eroded by falling LCD prices.

According to Corning, LCD TVs comprised 5 percent of all televisions sold in 2004 and are expected to reach 10 percent in 2005. Corning projects LCD TVs to account for 21 percent of global TV sales in 2007, though the rate of LCD TV adoption will vary by global region and from quarter to quarter depending on buying patterns, inventories, or other market factors.

Volanakis cautions investors to examine global market demand and trends, as more than 75 percent of TV sales are outside North America.

"The future growth rate for LCDs will be greatly influenced by the pacing of LCD TV penetration in consumer markets worldwide," Volanakis said. "As CRT TV's continue to decline in market penetration, we believe LCD TV will emerge as the primary alternative technology in the below 40-inch market, as they provide the best balance of form, function and cost."

Volanakis expects LCD TV glass demand, only 15 percent of total LCD glass demand in 2004, to grow at a compound annual rate of 100 percent through 2007.

The bulk of Corning's capital expenditures in 2005 will fund LCD facility expansions. The company will leverage its proprietary fusion technology for LCD glass production, a technology Corning said is easily adjusted to meet changing market demand.

- Spencer Chin

EE Times

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