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10-inch+ LCD Q3 revenues up 9%, reports DisplaySearch

Posted: 07 Nov 2006 ?? ?Print Version ?Bookmark and Share

Keywords:DisplaySearch? Samsung ELectronics? LG Philips LCD? AUO? CMO?

Worldwide shipments of large-area (10-inch and larger) TFT LCD modules in Q3 rose 21 percent quarter-on-quarter (q-o-q) and 29 percent year-on-year (y-o-y) to 77.4 million units, according to DisplaySearch's Q4'06 Large-Area TFT LCD Shipment Report. The strong unit growth more than offset price reductions enabling revenues to rise 14 percent q-o-q and nine percent y-o-y to $13.5 billion.

Average selling prices (ASPs) were down six percent q-o-q and 16 percent y-o-y to $174. After falling at double-digit rates sequentially in both the first and second quarters of this year, blended monitor and notebook price reductions slowed to three and seven percent respectively as stronger seasonal demand combined with supplier reductions in utilization narrowed the TFT LCD surplus.

On an area basis, more than 9.26 million m? of TFT LCDs shipped this third quarter can cover 1,234 soccer fields, which was up 26 percent q-o-q and 56 percent y-o-y. The average display size increased 10 percent y-o-y but the average areal price decreased 10 percent q-o-q and 30 percent y-o-y to $1,453/m2. Forecasts suggest the areal price could rise in the fourth quarter but continue falling over the mid-term as producers bring more display area to market.

Korean suppliers LG Philips LCD and Samsung Electronics retained their revenue lead over Taiwanese suppliers by increasing their average display size in the third quarter.

Taiwanese suppliers produced 49 percent of all large LCD units but captured only 43 percent of revenues in the third quarter with a blended unit price 13 percent below the market average. Korean suppliers shipped 39 percent of all units but generated 45 percent of industry revenues with unit pricing 16 percent greater than the industry average.

The two Korean suppliers captured 54 percent of LCD TV panel sales. Supplier shipment targets indicate that Korean producers will retain the sales lead in the last quarter of this year and first quarter of 2007.

Notebook PCs

Also found in the report is that notebook PC panel shipments increased 14 percent q-o-q and 22 percent y-o-y to 20.7 million units with average prices falling seven percent q-o-q and 28 percent y-o-y to $104.

Notebook panel revenues were up six percent q-o-q, but declined 13 percent y-o-y. Wide-format displays accounted for 76 percent of notebook display area, 75 percent of units and 76 percent of sales in the third quarter as 15.4-inch 1,280 x 800 panel remained the top-selling notebook display. It generated 35 percent of all notebook panel revenues in the third quarter.

The second most popular type was 14.1-inch 1,280 x 800 which accounted for 16 percent of notebook display sales. The 15.0-inch 1,024 x 768 only accounted for 10 percent of revenues in the third quarter, down from 26 percent in the third quarter. The average price per meter squared fell 27 percent y-o-y and seven percent q-o-q to $1,632, while the wide format price per meter squared fell 29 percent y-o-y and six percent q-o-q further narrowing the wide premium.

LCD monitor shipments

LCD monitor panel shipments rose 23 percent q-o-q and 19 percent y-o-y in the third quarter to 39.1 million units. Shipments were above supplier targets as lower prices and traditional seasonality fuelled strong growth. Blended prices were down three percent q-o-q and 30 percent y-o-y which generated 20 percent q-o-q revenue growth with revenues down 17 percent y-o-y. Shipments were led by wide panels which rose from a 10 percent share in the second quarter to 16 percent in the third quarter on 109 percent q-o-q growth.

LCD TV module
LCD TV module shipments exceeded suppliers' expectations by three percent, rising 25 percent q-o-q and 90 percent y-o-y to 14.9 million units. Also, Korean suppliers captured 54 percent of TV module revenues.

LCD TV panel area grew 32 percent q-o-q and 140 percent y-o-y to nearly 4 million m?. Average panel diagonal reached 30-inch for the first time, up three percent q-o-q and 30 percent y-o-y and LCD TV panel revenues grew 13 percent q-o-q and 70 percent y-o-y to $5.9 billion.

ASPs were down 10 percent q-o-q and y-o-y to $395 with share gains at larger sizes and higher resolutions helping to reduce the blended ASP decline. The 32-inch 1366-by-768 remained the top selling LCD TV panel with a 34 percent share, up from 33 percent in the second quarter. The 37-inch, 40- to 42-inch, 46- to 47-inch and 52-inch+ segments all grew at least 45 percent q-o-q and took share from smaller sizes as prices continue to fall and the price gap with smaller sizes narrows.

The 32-inch+ market rose from a 55 percent to a 59 percent share while the 37-inch+ category rose from 21 percent to 26 percent. LPL ranked first in LCD TV units with a 24 percent share while Samsung placed first in LCD TV revenues with a 30 percent share and the highest blended ASPs due to its size mix being heavily weighted towards larger sizes. On a revenue basis, LPL was second followed by AUO, CMO and Sharp.

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