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July LCD Shipments Mixed: Large Panels Down Y/Y but Up Sequentially, Reverse Situation for Small Panels
September 03, 2018
 
In line with comments from AUO and Innolux, panel producers saw increases in panel pricing in July particularly for TV panels, which should have led to increased large panel revenue.  But the results were mixed as sequential increases for smaller producers are deceiving due to their relatively small large panel production.  Large panel revenue for the industry, which is a better gauge of the impact of panel shipments increases, were up 1.3% sequentially, and down 7.9% Y/Y, but all the major large panel suppliers were up sequentially except Innolux and LG Display. 
 
Small/Medium panel producers experienced little of the sales improvement that was seen in large panel production, and the two largest small panel producers (by sales), LG Display and Tianma,both saw declines.  Chinese small panel producer Infovisionhad a 17% increase sequentially and is now running above its 2 year monthly average of ~$68m/month, likely from supplying displays for upcoming new model releases from Chinese smartphone brands. Samsung Display was not included because the company only makes OLED panels for small/medium applications
 
All in it was an up month for the industry, but the impact of panel price increases was muted by panel runs tight demand before the increases and some currency issues took effect.  A sequential revenue increase for large panel producers is expected in August as price increases have continued on many TV panel sizes.  
 
Table 1: July’18 LCD Sales Changes By Producer

Source: SCMR LLC, IHS