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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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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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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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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

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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Mobile

BOE Flagship Smartphone Panel Share Surged to a Record 27% in Q1’23

April 26, 2023

As revealed in DSCC’s new Monthly Flagship Smartphone Tracker, BOE captured a record 27% unit share of the flagship smartphone panel market in Q1’23, with flagship smartphones defined as those containing flexible or foldable OLED displays. In Q1'23, BOE had an 81% Y/Y unit growth as a result of impressive volume growth/share gains at Apple, Huawei, Oppo, Realme, Vivo and ZTE. As it continues to narrow the technological gap with Samsung Display and ramps up its new fab in Chengdu and prices to win business, its share of the flagship smartphone market continues to grow, rising from 18% in Q1’22 to 22% in Q4’22 and 27% in Q1’23. In Q1'23, flagship smartphones were up 17% Y/Y with flexible OLED smartphones up 18% Y/Y and foldable OLED smartphones up 4% Y/Y. DSCC’s Monthly Flagship Smartphone Tracker, which also provides a rolling two-month forecast for all flexible and foldable OLEDs used in smartphones, reveals that BOE is expected to hold onto its share gain in Q2’23.
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Financial

Panel Maker Q1’23 Earnings Preview

April 24, 2023

In most quarters, LG Display has been the first panel maker to announce financial results from the previous quarter. LGD is scheduled to release its results next Wednesday, April 26th, but they won’t be the first to report this quarter. Innolux jumped the gun by announcing better-than-expected results for Q1’23 on April 19th (see separate story). We will preview the results from the rest of the industry here. It is likely that the pattern set by Innolux – a decrease in revenues but slightly better operating margins – will be the trend for panel makers.
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Display Cost

DSCC Smartphone Display Cost Report Highlights Cost of New Technologies

April 17, 2023

In the immensely competitive smartphone market, consumers and handset makers choose performance features from a vast range of display innovations and weigh the importance of these features against price. The latest update of DSCC’s Quarterly Smartphone Display Cost Report, released last week gives subscribers a detailed accounting of the cost of key features available in smartphone displays, such as higher refresh rate, resolution or improved thickness and weight. The report includes the latest updates to our smartphone cost model, including revised cost profiles of Samsung’s S23 product line, Apple’s iPhone 14 product line and the latest foldable displays from Samsung, Oppo, Vivo and Xiaomi.
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TV

DSCC Advanced TV Cost Report Shows Cost Impact of Low Fab Utilization

April 10, 2023

DSCC has released its latest update of the Advanced TV Display Cost Report, with updates to OLED and LCD cost profiles. This quarter’s edition includes updates to all sizes of WOLED panels and 55”+ LCD sizes including LCD with MiniLED backlights, and cost profiles for 55” and 65” QD-OLED panels from SDC.
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