群智咨询：三季度智能手机面板价格整体呈现稳中有降的趋势

Core Insights - The global smartphone terminal market is experiencing stable demand, with brand competition focusing on pricing and channel strategies. However, market growth is shrinking due to increased inventory and strong cost-reduction demands from terminal brands [1][2]. Panel Demand Analysis - a-Si LCD: Demand remains high due to stable needs from white-label customers and the repair market, but price sensitivity in the low-end market leads to slight price reductions from suppliers [1]. - LTPS LCD: Both supply and demand are expected to remain low, with manufacturers shifting capacity to mid-size products, resulting in stable prices for LTPS LCD smartphone panels [1][4]. - ROLED: Prices for rigid OLED panels have slightly decreased, but demand has not significantly increased due to more brands shifting towards FOLED [2]. - FOLED: Demand is expected to grow in the third quarter, but intense competition during project bidding has led to a disconnect between demand growth and price reductions [2]. Tablet Panel Market - In the domestic market, tablet sales exceeded expectations during the "618" promotion, but demand is adjusting post-promotion, leading to reduced panel procurement by some brands. Ongoing tightening of national subsidies is further suppressing consumer purchasing intent [3]. - In North America, overall consumer demand remains weak despite cost transfers from supply chain shifts not yet impacting end prices [3]. Supply Side Overview - a-Si LCD: Demand related to tablets remains stable, with prices holding steady [4]. - LTPS Production Lines: Despite pressure on smartphone panel demand, strong demand for mid-size products keeps production lines operating at high utilization rates, maintaining stable prices [4].