机构：第二季度中小尺寸显示面板出货量环比下降10%

Core Viewpoint - The shipment volume of small to medium-sized display panels is expected to decline by 10% quarter-on-quarter and 6% year-on-year in the second quarter of 2025, primarily due to inventory adjustments by manufacturers of devices such as smartwatches and smartphones [1] Group 1 - The decline in shipment volume is attributed to business and inventory adjustments made by manufacturers of small to medium-sized display applications [1] - Manufacturers had previously increased panel inventory significantly in the fourth quarter of 2024 and the first quarter of 2025 due to tariff risks [1] - As concerns over tariffs eased in the second quarter of 2025, device manufacturers adopted a more conservative procurement strategy, leading to a reduction in panel shipments [1]