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January Large Area LCD Display Revenue Down 10.2% Y/Y; Omen for a Poor Year
February 25, 2019
January is typically a weak month for the display industry, as holidays have ended in many regions, and most products slated for the Chinese New Year have already been built This January, revenue declined 7.3% sequentially and 5.6% Y/Y. Large panel production (9” and up) revenue declined 9.9% sequentially and 10.2% Y/Y, but small/medium panel revenue increased by 5.7% sequentially and 20.1% Y/Y as some producers began to produce for new smartphone models to be introduced at Mobile World Congress. On a product category basis, January revenue is shown below:
February 25, 2019
January is typically a weak month for the display industry, as holidays have ended in many regions, and most products slated for the Chinese New Year have already been built This January, revenue declined 7.3% sequentially and 5.6% Y/Y. Large panel production (9” and up) revenue declined 9.9% sequentially and 10.2% Y/Y, but small/medium panel revenue increased by 5.7% sequentially and 20.1% Y/Y as some producers began to produce for new smartphone models to be introduced at Mobile World Congress. On a product category basis, January revenue is shown below:
Table 1: January LCD Revenue Change by Category
TV panel revenue, was up 3% Y/Y, which is a bit better than the 3-year average of +2%, January TV panel sales were modestly positive, but more important would be the TV set inventory levels left over from the Chinese New Year holiday, which will should set the tone for buyers in February and March. Thus far, inventory levels are close to normal for mid-size TV sets and a bit high for larger units, but the influence of BOE’s new Gen 10.5 LCD fab is also a factor that requires more data before calling any kind of change in the LCD space.