TrendForce集邦咨询公布的11月面板价格显示，2025年11月，电视面板价格全面下跌，进入第四季后， 厂商在面板价格上采取更为灵活的策略，预估11月份的电视面板价格仍维持跌价态势；显示器面板价格 与前月持平，买卖双方在价格的共识上仍是以持稳为主；笔电面板部分尺寸价格下跌。 具体内容如下： 电视面板 显示器面板 进入第四季后，显示器(MNT)面板需求呈现较疲软的态势，不过对面板厂而言，主流MNT面板持续处 于亏损状态，因此面板厂在价格上没有太多让步的空间，也不愿意扩大生产规模，因此目前买卖双方在 价格的共识上仍是以持稳为主，就11月份的MNT面板价格来看，仅有23.8吋Open Cell面板因为需求明 显更弱，预估价格下跌0.2美元之外，其余主流尺寸价格皆呈现持平态势。 笔电面板 进入11月份，目前存储器价格大幅飙升，暂时还未影响到品牌客户对面板的采购动能，第四季整体采购 动能仍符合原先预期，但品牌客户要求面板价格下调的想法未变，面板厂也意识到除了原本台面下优惠 外，台面上的价格也要开始作调整，以满足客户的要求。因此就11月份的笔电(NB)面板价格来看，目 前仅有TN面板维持持平之外，其余IPS主流尺寸 ...

Core Insights - The global display panel market is expected to maintain price stability in November, with mainstream specifications likely to remain steady while high-end panels face downward pressure due to weak demand and supply adjustments [1][2]. Monitor Panels - In November, the global monitor panel market continues to show price stability, driven by weak demand characterized by high inventory levels among brand manufacturers and reduced procurement activity [2]. - The end of government subsidy policies has led to diminishing market stimulation, further contracting consumer demand [2]. - Panel manufacturers are adopting a "production on demand" strategy to maintain a dynamic balance in supply and demand, with some reducing supply to enhance bargaining power [2]. - Specific price performance for mainstream specifications in November includes: - 21.5" FHD: Prices expected to remain flat - 23.8" FHD: Prices expected to remain flat - 27" FHD: Prices expected to remain flat [2]. Notebook Panels - The notebook panel market continues to experience weak demand in November, leading to sustained price pressure [3]. - High inventory levels among brand manufacturers are prompting cautious procurement orders as the peak stocking season has concluded [3]. - Despite tariff adjustments alleviating some cost pressures, the overall cost burden from rising core component prices remains significant, with brands strongly transmitting cost pressures to panel suppliers [3]. - Price performance for notebook panels in November includes: - Low-end HD TN: Prices expected to remain flat - IPS FHD & FHD+: Prices for 16:9 and 16:10 mainstream specifications expected to decrease slightly by $0.2; high-end specifications continue to show price differentiation [3].

Group 1: Panel Price Trends - In October 2023, TrendForce reported a decline in prices for certain sizes of TV and laptop panels, while monitor panel prices remained stable compared to the previous month [1] - The demand for TV panels has weakened as brand clients' stocking needs have subsided, leading to a pessimistic outlook for the upcoming Double Eleven sales [1] - The forecast for October indicates that prices for 50-inch and 55-inch TV panels are expected to drop by $1, while 65-inch and 75-inch panels may decrease by $2 [1] Group 2: Monitor Panel Demand - Overall demand for monitor panels has weakened in October, with only some domestic projects in China providing slight support [2] - Panel manufacturers are cautiously producing models that continue to incur losses, focusing on higher-end models, while mainstream FHD models are expected to maintain stable prices [2] Group 3: Laptop Panel Market - The demand for laptop panels has shown a correction trend, with only a few brand clients placing additional orders, leading to a softening of panel prices during the off-season [3] - The forecast for October suggests that entry-level TN panels will maintain stable prices, while some IPS models are expected to see a price drop of $0.1 [3] Group 4: Price Table Overview - A detailed price table shows the prices for various panel sizes and types, indicating specific price points for TV, monitor, and laptop panels, with notable prices for 65" TV panels at $171 and 15.6" laptop panels at $40.2 [4]

Group 1: Core Insights - TrendForce forecasts that TV and monitor panel prices will remain stable compared to the previous month, while laptop panel prices are expected to see a slight decline [2][3][4]. Group 2: TV Panel Insights - As the fourth quarter approaches, demand for TV panels is expected to gradually slow down due to the end of year-end promotional stocking [4]. - Panel manufacturers plan to adjust production capacity during the National Day holiday, with average utilization rates expected to drop below 80% in October [4]. - The price trend for TV panels in sizes ranging from 32 inches to 75 inches is anticipated to remain stable [5]. Group 3: Monitor Panel Insights - Demand for monitor panels is projected to decrease by 9% compared to September, leading to a consensus between buyers and sellers to maintain stable prices [8]. - Despite the weak demand, manufacturers are reluctant to lower prices due to ongoing losses in mainstream specifications like FHD [8]. Group 4: Laptop Panel Insights - The demand for laptop panels is also expected to weaken in October, with brands increasingly pushing for price reductions [9]. - Manufacturers are likely to comply with brand requests to lower prices during the off-peak season, with entry-level TN models expected to maintain stable prices while other IPS models may see a price drop of $0.1 [9].

Core Viewpoint - The global panel market experienced a price stabilization in Q3 2025, with TV panel prices halting their decline, while monitor and laptop panel prices remained stable. This stability was influenced by manufacturers' capacity control strategies and brand preparations for the year-end sales season, although uncertainties remain for Q4 due to ongoing supply-demand dynamics [2][18]. TV Panels - The TV panel market reversed its previous downward trend in Q3, driven by seasonal stocking demands from brands for the year-end promotional season [3][14]. - In July, demand was weak, leading to price declines for various sizes of TV panels, with 32-inch and 43-inch panels dropping by $1, 50-inch and 55-inch by $2, and 65-inch and 75-inch by $3 [5][6]. - By August, demand increased as brands began stocking for promotions, resulting in stable prices across all sizes of TV panels [6][8]. - September saw continued price stability, supported by brand stocking activities and manufacturers planning production cuts for October to address potential demand slowdowns [8][14]. Monitor Panels - Unlike TV panels, monitor panel prices remained stable throughout Q3, despite a slight 4.7% decrease in demand [8][9]. - The lack of price decline was attributed to manufacturers' reluctance to lower prices due to existing losses on mainstream monitor panel sizes, leading to reduced supply to support price stability [9][14]. - Both brands and manufacturers reached a consensus to maintain price stability, avoiding strong demands for price reductions [9][14]. Laptop Panels - The laptop panel market showed strong demand in Q3, with a 5.1% increase in demand compared to the previous quarter, but prices remained stable [10][12]. - The stability in prices was primarily due to competition among manufacturers, who avoided price increases to maintain customer relationships and market share [12][13]. - Manufacturers anticipated a potential demand decline in Q4, leading them to prefer price stability to solidify customer relations [13][14]. Key Factors Influencing Price Trends - The primary demand driver in Q3 was the seasonal stocking by brands for year-end promotions, which helped stabilize TV panel prices [14][15]. - Manufacturers' capacity control strategies, including production adjustments and planned reductions, played a crucial role in preventing further price declines [14][15]. - Competitive dynamics in the laptop panel market limited price increases despite strong demand, as manufacturers focused on maintaining long-term customer relationships [15][18]. Outlook for Q4 - The price stability achieved in Q3 is expected to face challenges in Q4, with anticipated declines in procurement momentum for TV panels as brands complete their stocking [16][18]. - Manufacturers plan to reduce production rates in October, which may impact price stability for TV panels [16][18]. - The monitor panel market may see continued price stability for mainstream sizes, but higher-end models could face downward price pressure [16][18]. - There is a high risk of price declines for laptop panels in Q4, as demand is expected to weaken, shifting bargaining power towards brand customers [17][18].

Core Viewpoint - The article discusses the revenue performance of six Taiwanese panel manufacturers in August 2025, highlighting both year-on-year and month-on-month changes, as well as the overall market trends in the panel industry [2][3][4]. Revenue Performance Summary - AU Optronics reported a revenue of 5.754 billion, a year-on-year decrease of 9.16% but a month-on-month increase of 17.29%, with a cumulative revenue of 43.805 billion, reflecting a slight year-on-year growth of 0.60% [2]. - Innolux achieved a revenue of 4.383 billion, showing a year-on-year increase of 1.15% and a month-on-month decrease of 2.97%, with a cumulative revenue of 35.203 billion, marking a year-on-year growth of 4.62% [2]. - HannStar reported a revenue of 203 million, with a remarkable year-on-year increase of 38.37% but a month-on-month decrease of 3.93%, accumulating to 1.798 billion, which is a year-on-year growth of 25.34% [2]. - Lianjie Technology's revenue was 185 million, reflecting a year-on-year increase of 3.00% and a month-on-month increase of 24.52%, with a cumulative revenue of 1.337 billion, showing a year-on-year growth of 2.87% [2]. - Ralco Technology reported a revenue of 53 million, with a year-on-year increase of 17.17% but a significant month-on-month decrease of 56.15%, accumulating to 659 million, which is a substantial year-on-year growth of 82.58% [2]. - Hualing Optoelectronics had a revenue of 37 million, showing a year-on-year decrease of 13.80% and a month-on-month decrease of 7.79%, with a cumulative revenue of 316 million, reflecting a minimal year-on-year growth of 0.04% [2]. Market Trends - The panel market saw a stabilization in TV panel prices in August, with a notable increase in demand as brands aimed to boost year-end promotions, particularly for small-sized TV panels [3][4]. - The demand for monitor panels decreased compared to the second quarter, but prices remained stable due to the overall market conditions [4]. - Laptop panel demand continued to be strong in the third quarter, with prices remaining stable amid competitive pressures among manufacturers [4][7]. Company Dynamics - In August, AU Optronics underwent organizational restructuring, appointing its chairman as the group CEO to accelerate strategic transformation and global integration [8]. - Innolux initiated a restructuring process to adapt to market changes, focusing on non-display business segments [8]. - HannStar simplified its organizational structure by merging several subsidiaries, aiming to enhance operational efficiency [9].

Summary of Key Points Core Viewpoint - According to TrendForce's latest research data, it is projected that the prices of TV, monitor, and laptop panels will remain stable by September 2025 [1]. TV Panels - The average price for a 65-inch TV panel is expected to be $173, with a minimum price of $167 and a maximum of $176 [2]. - The average price for a 55-inch TV panel is projected at $124, with a minimum of $118 and a maximum of $127 [2]. - The average price for a 43-inch TV panel is anticipated to be $64, with a minimum of $62 and a maximum of $65 [3]. - The average price for a 32-inch TV panel is expected to be $35, with a minimum of $34 and a maximum of $36 [4]. Monitor Panels - The prices of monitor panels are also expected to remain stable [5]. - The average price for a 27-inch IPS panel is projected at $63, with a minimum of $57.6 and a maximum of $65.8 [6]. - The average price for a 23.8-inch IPS panel is expected to be $49.9, with a minimum of $47.1 and a maximum of $51.4 [7]. Laptop Panels - The prices of laptop panels are anticipated to remain unchanged [8]. - The average price for a 17.3-inch TN panel has stabilized at $38.3, with a minimum of $37.7 and a maximum of $39.8 [8]. - The average price for a 15.6-inch Value IPS panel is projected to be $40.3, consistent with the previous month, with a minimum of $38.6 and a maximum of $41.9 [8]. - The average price for a 14.0-inch TN panel has stabilized at $26.9, with a minimum of $26.4 and a maximum of $28.1 [8]. - The average price for an 11.6-inch TN panel has remained at $25.1, with a minimum of $24.2 and a maximum of $26.5 [8].

Core Viewpoint - The reduction in production and sales by mainland Chinese panel manufacturers has effectively stabilized TV panel prices in the third quarter, with expectations for balanced supply and demand in the fourth quarter, leading to minimal price fluctuations, particularly for TV panels [1] Group 1: Production and Pricing - Mainland Chinese panel manufacturers have successfully implemented production and sales controls, resulting in a significant reduction in output during June, July, and August [1] - The measures taken have led to a halt in the decline of TV panel prices, with projections indicating stability in the fourth quarter [1] Group 2: Profitability - Panel manufacturers are expected to achieve profitability under the current conditions, although they will not see excessive profits [1] - Taiwanese panel manufacturers, including AUO and Innolux, are also anticipated to be profitable, with a stable customer base that includes Korean brands and Chinese TV manufacturers [1]

Core Viewpoint - The recent report from Morgan Stanley indicates that while TV panel prices have stabilized, the average price for the third quarter is still expected to decrease by approximately 2% compared to the previous quarter, reflecting limited recovery in pricing momentum for companies like AUO and Innolux [1][2] Group 1: Price Trends - In August, the prices for TV, monitor, and laptop panels remained flat month-over-month, which is better than the previously expected decline of 0.3% [1] - The mainstream sizes of TV panels, including 32, 43, 55, 65, and 75 inches, all maintained stable pricing throughout August [1] - Despite the stabilization, the timing for a price rebound remains unclear, which is crucial for the industry's trajectory [1][2] Group 2: Demand and Supply Dynamics - TV brands have resumed normal procurement starting in August to prepare for promotional demands in China, the U.S., and Europe by year-end [1] - The previous overstock situation is gradually being resolved, and ongoing trade negotiations are stabilizing tariff issues, which helps restore market confidence [1] Group 3: Shipment and Capacity Utilization Outlook - The third quarter is expected to see a low single-digit percentage increase in TV panel shipments, improving from a 9% decline in the second quarter [1] - According to Morgan Stanley's survey, manufacturers' capacity utilization is projected to slightly increase from 75%-80% in the second quarter to 80%-85% in the third quarter, indicating a gradual recovery in shipment momentum [1] Group 4: Future Expectations - Morgan Stanley anticipates that TV panel prices will remain generally flat in the near term, benefiting from a rebound in order momentum, which could enhance the bargaining power of panel manufacturers [2] - The prices for information panels, including monitors and laptop panels, are expected to remain stable in the coming quarters, with the third quarter projected to show flat pricing [2] - Although AUO and Innolux have been diversifying into automotive subsystems and industrial displays, standard panels still constitute the majority of their revenue [2]

Group 1: Core Insights - The overall panel prices for televisions have stabilized, while prices for monitor and laptop panels remain steady [1][5] - Demand for small-sized television panels has increased significantly due to lower supply expectations and relatively low prices [3][5] - The demand for laptop panels is expected to see a slight increase of 1.8% in the third quarter, with manufacturers maintaining stable pricing strategies [6] Group 2: Television Panels - Despite a volatile environment, television brands are aiming for strong year-end promotions to meet annual targets, leading to increased procurement of television panels [3] - The price trend for television panels is expected to stabilize across sizes from 32 inches to 75 inches [3] Group 3: Monitor Panels - The demand for monitor panels has decreased slightly by 4.7% compared to the second quarter, leading to potential price negotiations between buyers and sellers [4] - Most monitor panel manufacturers are currently operating at a loss, which has resulted in a stable pricing strategy without aggressive price cuts [5] Group 4: Laptop Panels - The demand for laptop panels remains strong, with brand clients willing to purchase according to established procurement needs [6] - Manufacturers are cautious about raising prices due to competitive pressures and are likely to maintain stable pricing in August [6]