Fan Boyu pointed out that in response to improved demand in recent months, panel manufacturers have shifted towards more active production. However, in preparation for a potential slowdown in demand, they have simultaneously begun formulating production cut plans for October. This strategy has helped stabilize supply-demand dynamics and prices in September, making it likely that TV panel prices will remain flat across the board for the month.
He explained that after entering the third quarter, demand momentum for LCD monitor panels has slowed slightly, as some panel manufacturers are reluctant to produce mainstream-sized specifications that are operating at a loss. Consequently, brand vendors have recently felt that the supply of mainstream panels, such as Full HD (FHD) models, has become relatively tight.
Nevertheless, even with the tighter supply of LCD monitor panels, brand vendors remain unwilling to concede on price, meaning there is still no room for price increases. Both buyers and sellers have only reached a consensus on maintaining price stability, and it is estimated that LCD monitor panel prices will continue to hold steady in September.
According to a survey by TrendForce, demand for notebook (NB) panels remained strong in Q3, with an estimated quarter-on-quarter growth of 5.1%. Most brand vendors have temporarily set aside potential impacts of tariff issues, focusing instead on securing panel volumes to seize opportunities to capture more end-market demand before the end of the year.
Meanwhile, with demand staying at a high level, panel manufacturers are hesitant to hastily propose price hikes. This is due to ongoing competition among panel makers for customer orders, coupled with projections of a potential significant decline in panel demand in Q4. As a result, panel manufacturers must prioritize stabilizing customer relationships, leading to flat NB panel prices in September. However, entering Q4, downward price pressure on panels is likely to emerge in response to the expected notable demand slump.
Xie Qinyi, General Manager of Display Research at Omdia, another research institution, stated that historically, panel supply and demand were mainly driven by seasonal economic cycles, but the tug-of-war between panel manufacturers and complete machine makers has intensified since 2024.
Xie Qinyi analyzed that leveraging their absolute capacity advantage (holding nearly 80% of the LCD market share), mainland Chinese panel manufacturers immediately lower capacity utilization rates when demand weakens, using methods of "production and sales control" to stabilize prices. In response, complete machine makers reduce orders to prevent excessive price hikes. This has established a new order in panel supply and demand, transforming it into a cycle driven by manufacturing and procurement, and shifting prices from high volatility to stability.
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