Blog from May 2023

TV

LCD TV Panel Prices Increasing in Q2 – Can the Rally Last?

May 1, 2023

LCD TV panel prices hit an all-time low in September 2022, and after two quarters of lackluster increases, prices are increasing at a robust rate in Q2’23. With LCD fab utilization well below normal levels from Q3’22 to Q1’23, excess TV panel inventories in the supply chain have been flushed out and panel purchases have started to recover. With LCD fab UT% increasing in Q2, we forecast that the price rally will be short-lived and that prices will stabilize in Q3’23.
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Display Equipment

Display Industry Recovery Gaining Steam as Fab Utilization Increases in Q2’23

May 8, 2023

The increase in display fab utilization that started in Q1’23 has accelerated in the second quarter, according to the latest release of DSCC’s Quarterly All Display Fab Utilization Report issued last week. Inventory in the display supply chain has been trimmed to normal levels, and a wave of restocking is leading to increased demand. However, big increases in utilization by LCD makers in Q2’23 carry the risk of overshooting demand and stifling the rally in panel prices.
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TV

TV Brand Profits Rebound in Q1

May 8, 2023

After a difficult Q4’22 when the TV business segments of the top two brands reported operating losses, profits bounced back in the first quarter of 2023, as reported by the companies last week. With lower costs for LCD TV panels, Samsung and LG navigated their TV businesses to profits in the first quarter of 2023 despite a soft market.
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Events

Thoughts on Display Week and Corning's Price Increase

May 30, 2023

Display Week 2023 has come and gone, and as usual it was a very busy week for DSCC. For me the highlight of the week was Ross’ keynote address to the Display Week assembly on Tuesday morning. This was the first time any analyst was chosen to deliver a Display Week keynote, and Ross delivered in his customary rapid-fire style covering all the key business, market and technology issues facing the display industry.
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Financial

Q1’23 Flat Panel Display Financials Highlight Wide Gap Between Samsung Display and the Rest

May 30, 2023

Now that all of the industry’s flat panel display makers have reported their Q1’23 financial results, we update our industry profile. The first quarter showed a gaping chasm between Samsung Display and all of the other companies in the industry, most of which focus on LCD technology. For LCD makers, it was the third consecutive quarter of severe losses. Even for other FPD makers focusing on OLED, profits remain a faraway dream. Meanwhile, although it weathered a seasonal slowdown in sales, Samsung Display continued to book strong profits.
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Foldable

Foldable Smartphone Shipments Decline Y/Y Again in Q1’23

May 30, 2023

As revealed in our latest Quarterly Foldable/Rollable Display Shipment and Technology Report, foldable smartphone shipments fell 39% Q/Q and 8% Y/Y in Q1’23 to 1.93M units. It was the second straight quarter with a Y/Y decline for foldable smartphones, which have struggled since the launch of the iPhone 14 series along with a decline in Android phones and the lack of compelling new foldable phones. By brand, Samsung’s share slipped from 83% in Q4’22 to 48% in Q1’23 as demand stalled for its Galaxy Z Flip 4 and Z Fold 4. Oppo jumped into second with a 22.7% share followed by Huawei at 15.7%. The top five models in Q1’23 were the Z Flip 4 at 29%, the Huawei Pocket S at 16%, the Galaxy Z Fold 4 at 14%, the Oppo Find N2 Flip at 12% and the Oppo Find N at 6%. In Q2’23, Vivo’s share is expected to surge to 16%, #3 after Samsung and Huawei. Shipments should rebound Y/Y in Q2’23 as more products become available at a wider range of price points and a forecast for Q2’23 was provided in the latest update. A full forecast through 2027 will be provided in a few weeks.
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Display Equipment

2023 Equipment Spending Outlook Worsens, But Bookings Will Boom on 2024 Rebound

May 30, 2023

Display manufacturers continue to push out spending as market conditions remain weak. Panel manufacturers are primarily targeting the high end of the IT (notebook PCs, tablets and monitors) market with new investments, but with those markets currently seeing significantly lower demand, a number of manufacturers are pushing out their spending. Our latest Quarterly Display Capex and Equipment Market Share Report downgraded 2020-2026 spending by 3% to $62B with OLEDs down 8% and LCDs up 4% over that period. By year:
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