"Chinese Panel Manufacturers Expected to Surpass 50% Share of Global TV Panel Shipments This Year"

[Asia Economy Reporter Jeong Hyunjin] Chinese companies are rapidly increasing their market share in the global TV panel market. Leading the way is China’s BOE, the world’s largest LCD panel manufacturer, followed by CSOT and HKC, the three major Chinese companies expected to supply more than half of the world’s TV panels this year.

According to the industry on the 11th, market research firm TrendForce recently predicted that the total TV panel shipments this year will be around 268.9 million units, similar to last year’s 269 million units. TrendForce analyzed, "Panel suppliers will focus on large TV panels this year in response to overall industry developments such as mergers and acquisitions (M&A), productivity declines, manufacturing technology advancements, and increased panel demand."

They added, "The continuous price increase of TV panels has led to reduced profitability for TV sets, prompting TV brands to shift towards larger and more profitable TV sizes. The average size of TV panels this year is expected to increase by 1.6 inches, approaching 50 inches."

(Data = TrendForce)

Looking at TV panel shipments by company this year, Chinese companies occupy the top three positions. BOE, the number one LCD panel company in China, is expected to increase its TV panel shipments significantly from 47.2 million units last year to 65.2 million units this year. Following are CSOT and HKC, projected to ship 42.2 million and 41.9 million TV panels respectively this year. The share of Chinese companies is predicted to reach 55.5%, producing more than half of the TV panels shipped worldwide.

TrendForce explained, "BOE and CSOT will account for about 40% of total TV panel shipments this year due to continuous productivity improvements and successful corporate acquisitions," adding that these companies are actively advancing their technology development. HKC is also increasing productivity and establishing strategic partnerships with various TV brands, entering the top three panel suppliers for the first time this year.

Regarding Korean panel suppliers such as LG Display and Samsung Display, TrendForce stated, "They are currently extending LCD production to meet market demand, but both companies are focusing on transitioning to new product supplies." LG Display plans to expand OLED production capacity at its Guangzhou plant in the second quarter of this year. Although Samsung Display’s production capacity has relatively decreased this year, causing it to fall out of the top six, TrendForce forecasts that with the launch of TV sets equipped with QD OLED panels in the fourth quarter, Samsung Display’s annual TV panel shipments could rise to 2 million units next year.