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DisplaySearch: Strong TFT LCD market spurs FPD revenues

Posted: 06 Jul 2007 ?? ?Print Version ?Bookmark and Share

Keywords:flat panel display market? TFT LCD prices? display panels?

DisplaySearch has raised its 2007-2008 flat-panel display (FPD) revenue forecast by 6 percent in the Q2 2007 issue of the "Quarterly Worldwide FPD Forecast Report."

The revised report predicts FPD revenues rising to $92.7 billion in 2007 and to $102 billion in 2008, making a two-year total of $194.6 billion, up by 6 percent from the research firm's previous forecast of $183.3 billion.

Main driver
The strengthening price for TFT LCD is the main driver of this forecast upgrade. The forecast for TFT LCD unit shipments in 2007-2008 declined by less than 1 percent from the prior report, but the new report raised the average unit price 11 percent.

The report estimates that FPD revenues for all applications will reach $41.4 billion in 1H 2007, up 4 percent from 1H 2006. The report also showed that Q1 revenues decreased 13 percent q-on-q and 5 percent y-on-y to $19.4 billion.

Sales of LCD TV panels had strengthened in Q1, and the report projects that LCD TV panel revenues will grow 38 percent from 1H 2007 to 1H 2008, while PDP TV display revenues will grow only 5 percent. LCD TV panel sales fell 12 percent q-on-q but rose 10 percent y-on-y to $5.6 billion in Q1. LCD TV panel sales rose 24 percent sequentially in Q2. In contrast, PDP TV display sales fell 26 percent q-on-q and 27 percent y-on-y to $1.2 billion in Q1, but rose 3 percent in Q2.

TV display revenues for LCD, PDP and projection TV applications accounted for 35.4 percent of Q1 sales. PC display revenues for notebook and monitor applications accounted for 35.5 percent of Q1 FPD sales. The report forecasts PC displays would be less than 32 percent of FPD revenues in 2008, and TV displays will be more than 42 percent. Sales of flat panels for PC applications were disappointing in Q1 as revenues declined 13 percent q-on-q and 6 percent y-on-y.

Handset displays slowing
DisplaySearch also forecasts that revenue from mobile phone displays will not grow from 2006 to 2010, but TV applications will generate compound annual growth of 12 percent over this period. Emerging applications such as digital picture frames may provide greater sales growth.

TFT LCD dominated the FPD market with an 81.8 percent sales share over the past 12 quarters. This technology will remain dominant for the next 12 quarters, the firm said. PDP will remain in second place in FPD revenues with a 6.3 percent share but relatively little growth will occur. Production capacity for TFT LCD is greater than PDP capacity and TFT LCD capacity suitable for TV displays is growing faster. And although sales of passive-matrix LCD were almost as great as PDP in the prior 12 quarters, DisplaySearch said that TFT LCD and OLED technologies will increase their shares in the mobile phone market.

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