CINNO Research简评1月手机面板行情：存储成本高企叠加淡季效应 价格全面承压

Core Insights - The mobile panel market is entering a traditional off-season as of January 2026, with upstream memory prices rising for several months, leading terminal brands to reduce shipment targets to manage operational risks, resulting in a significant weakening of overall demand for mobile panels [1] Group 1: a-Si Panels - The overall demand contraction has led to a significant reduction in order visibility at the module level, while new production lines are gradually releasing capacity, exacerbating the oversupply pressure in the market [1] - The competitive landscape for a-Si panels is intensifying due to the supply-demand imbalance, with a high likelihood of continued downward price trends for a-Si modules [1] Group 2: LTPS Panels - Despite some demand support in non-mobile applications such as automotive displays, laptops, and tablets, the LTPS panel market is experiencing a contraction in overall demand due to rising memory prices and varying performance across segments, particularly in laptops and tablets [1] - In January, a slight price softening for LTPS panels used in smartphones is expected, with panel manufacturers likely to adopt competitive pricing strategies to secure new project orders [1] Group 3: AMOLED Panels - Rigid AMOLED panels are facing low demand due to substitution effects, maintaining low price fluctuations, while flexible AMOLED panels are under dual pressure from both demand and supply sides [1] - Terminal brands are becoming cautious in panel procurement due to cost control and shipment adjustments, while panel manufacturers are adopting more aggressive pricing strategies in negotiations to maintain utilization rates and market share [1] - CINNO Research anticipates that flexible AMOLED panel prices will continue to decline in January, influenced by previous capacity releases from some panel manufacturers aiming to meet annual shipment targets [1]