CINNO Research：12月手机面板结构分化延续 价格普遍承压

Core Insights - The mobile panel market is experiencing structural differentiation despite high overall utilization rates as the year-end promotional season approaches [1] Group 1: a-Si Panels - a-Si modules maintain full production due to stable demand in the low-end mobile and repair markets, but face intense competition leading to price pressure [2] - Prices for a-Si modules are expected to remain stable until the end of the year, with potential slight declines in early 2026 as demand weakens and supply pressures increase [2][3] Group 2: LTPS Panels - LTPS production rates remain high due to strong demand from non-mobile applications such as automotive, laptops, and tablets, despite weak smartphone demand [3] - Prices for LTPS panels are expected to remain flat in December, with new project prices anticipated to decrease in 2026 as manufacturers adopt competitive pricing strategies [3] Group 3: AMOLED Panels - Rigid AMOLED panels are facing demand shrinkage due to competition from flexible technologies, leading to price stabilization at low levels [3] - Flexible AMOLED manufacturers are experiencing slight declines in utilization rates due to slowed production rhythms, with aggressive pricing strategies being employed to secure orders for the upcoming year [3] - Prices for flexible AMOLED panels are projected to continue a downward trend into December and January 2026 [3]