Core Viewpoint - In December 2025, TV panel prices have stabilized, while monitor panel prices remained flat compared to the previous month, and some laptop panel prices have decreased. The demand for TV panels is stable, and panel manufacturers are preparing for potential price increases due to concerns over memory shortages and rising prices affecting TV products in the future [3][5]. Panel Price Observations - TV panel prices across various sizes are expected to remain stable in January and February 2026, with a potential for price increases in January due to strong demand and the upcoming Lunar New Year affecting demand distribution [3][5]. - The monitor panel market is experiencing weak demand, but some customers are increasing their orders. Manufacturers are reluctant to lower prices further due to ongoing losses in mainstream monitor panels, leading to a forecast of stable prices for January and February [5][6]. Laptop Panel Insights - The demand for laptop panels is being impacted by memory shortages and rising prices. Some brands are looking to increase shipments of mid-range models before potential price hikes in the new year, which may temporarily boost demand [6]. - Despite some increase in demand, manufacturers are adopting a softer pricing stance to maintain customer relationships, with expectations that prices for IPS models may decrease by $0.1 to $0.2, while TN models are expected to remain stable [6].

Core Viewpoint - According to TrendForce's latest report, television panel prices have stabilized in December 2025, while monitor panel prices remained unchanged from the previous month, and some laptop panel prices experienced slight declines [1]. Television Panels - In December, television panel prices stopped declining and remained stable across all sizes - The average price for a 65-inch television panel is $168, with a minimum price of $162 and a maximum of $171 - The average price for a 55-inch television panel is $121, with a minimum price of $114 and a maximum of $124 - The average price for a 43-inch television panel is $63, with a minimum price of $61 and a maximum of $65 - The average price for a 32-inch television panel is $34, with a minimum price of $33 and a maximum of $35 [3][4]. Monitor Panels - In December, monitor panel prices remained consistent with the previous month - The average price for a 27-inch IPS panel is $63, with a minimum price of $57.6 and a maximum of $65.8 - The average price for a 23.8-inch IPS panel is $49.9, with a minimum price of $47.1 and a maximum of $51.4 [4]. Laptop Panels - In December, prices for 17.3-inch and 15.6-inch laptop panels saw slight declines - The average price for a 17.3-inch TN panel is $38, down by $0.1 or 0.3% from the previous month, with a minimum price of $37.4 and a maximum of $39.3 - The average price for a 15.6-inch Value IPS panel is $40, down by $0.1 or 0.2% from the previous month, with a minimum price of $38.3 and a maximum of $41.4 - The average price for a 14.0-inch TN panel has stabilized at $26.9 since early July 2024, with a minimum price of $26.4 and a maximum of $28.1 - The average price for an 11.6-inch TN panel has also stabilized at $25.1 since early July 2024, with a minimum price of $24.2 and a maximum of $26.5 [5].

Summary of Panel Industry Conference Call Industry Overview - The panel industry is experiencing short-term price increases due to pre-stocking for the 2026 North America World Cup, but there are risks of price declines due to demand front-loading [2][3] - The Chinese market is expected to decline in 2026 due to external uncertainties, Sino-Japanese relations, and a pessimistic real estate market [2][3] - The European market is affected by the ongoing Russia-Ukraine conflict and low consumer confidence, limiting demand recovery [2][3] - Southeast Asia is projected to see slight growth, while India may benefit from GST tax reforms [2][3] Key Insights and Arguments - Major panel manufacturers like BOE and TCL are focusing on market share and profitability rather than just shipment volume, controlling production capacity to maintain price stability [2][4] - In Q4 2025, panel and OEM procurement increased, with some distributors stockpiling panels in anticipation of future price hikes [2][5] - North American market dynamics are significantly impacting Chinese brands like TCL, with Walmart expanding its private label and placing large orders [2][8] Supply Chain and Manufacturer Strategies - Panel manufacturers are adopting stable strategies focused on profitability, with BOE and TCL exceeding their shipment expectations for 2025 [4] - The overall panel supply situation is stable, with manufacturers maintaining high utilization rates despite potential price pressures [4][10] - Companies are planning to control production during the Spring Festival to stabilize prices and clear inventory [12] Price Trends and Market Dynamics - Panel prices are expected to rise slightly, with small sizes increasing by $1-2 and large sizes by around $3 [11][16] - The average panel size is expected to continue increasing, but at a slower rate due to poor performance in major markets like China and the U.S. [13] - OLED technology is facing challenges in the large-size TV market, while Mini LED is becoming more competitive due to cost advantages [17][18] Future Outlook - The Indian market has ambitions to establish its own panel production lines, but short-term feasibility is low due to various operational challenges [14][15] - The overall panel price environment is expected to remain stable, with companies managing production and pricing strategies to optimize profits [16] Additional Considerations - The potential for OLED in the IT market remains, with opportunities in smaller applications like monitors and laptops [19] - The competitive landscape is shifting, with companies adjusting strategies based on market conditions and customer needs [9][11]

Core Viewpoint - TrendForce's December panel price forecast indicates stable prices for TV and monitor panels, while laptop panel prices are expected to decline for certain sizes [1][4][5]. Group 1: TV Panels - Demand for TV panels remains stable as some brand clients anticipate that panel prices have reached their bottom, leading to increased orders [4]. - The production and utilization rates of panel manufacturers are expected to remain strong due to this demand, creating a potential atmosphere for price increases [4]. - December's price trend for TV panels in sizes ranging from 32 inches to 65 inches is expected to stabilize [4]. Group 2: Monitor Panels - The demand for LCD monitor panels has weakened overall, despite some brand clients increasing their orders [5]. - Panel manufacturers are reluctant to make significant price concessions, and most brand clients are accepting stable prices [5]. - In December, the price for the 23.8-inch VA Open Cell panel is expected to decline by $0.2, while other sizes are anticipated to remain stable [6]. Group 3: Laptop Panels - The demand for laptop panels is expected to remain as previously anticipated, with memory shortages and price increases not significantly impacting panel procurement [7]. - Some brand clients are actively requesting more price concessions from panel manufacturers, indicating that previous discount strategies are no longer sufficient [7]. - For December, prices for IPS laptop panels are expected to decline by $0.1 to $0.2, while low-end TN models are anticipated to remain stable [7].

Core Viewpoint - The report from CINNO Research indicates that panel demand has declined further in November due to the end of the peak stocking period, while supply remains relatively ample, leading to a continued decrease in panel prices [1] Group 1: Market Trends - In December, demand in the North American market is gradually being released, which is expected to drive a short-term recovery in demand [1] - The overall capacity utilization rate remains high, suggesting that prices for small and medium-sized panels are likely to stabilize gradually [1] Group 2: Price Forecast - Large-sized panel prices are expected to continue their downward trend, while the price trajectory for LCD TV panels in December is anticipated to show differentiation [1]

Core Insights - The global TV panel market is transitioning from a loose to a balanced state in November, influenced by stronger-than-expected overseas stocking demand and average performance in the Chinese market [1] Demand Side - Overall panel procurement in Q4 is better than expected, but large-size demand continues to face pressure. The "Double 11" sales period in China showed average sales, leading to high inventory levels that decreased procurement demand from Chinese manufacturers [1] - International brand event stocking demand is steadily increasing, supporting a smooth transition in Q4 panel demand. Concerns over rising upstream material prices have led some brands to shift their procurement strategies from seasonal reductions to stocking recovery [1] - The Q4 stocking off-season is expected to be shorter, resulting in a phase of stable panel demand [1] Supply Side - Panel manufacturers are experiencing differentiated production capacity rhythms, contributing to stable panel supply in Q4. Manufacturers with healthy inventory levels and balanced customer structures are maintaining good production capacity levels by year-end [1] - Manufacturers facing inventory and demand pressure are adopting more cautious production control measures [1] Size Performance - For 32" panels, short-term demand remains resilient, with prices expected to stabilize in November [2] - The 50" panel demand is weak, with an average price drop of $1 in October, but production capacity has contracted, leading to expected price stabilization in November [2] - The 55" panel is under increased shipping pressure, with an anticipated average price decline of $1 in November [2] - In the large-size segment, brand procurement motivation is weak, and G10.5 production capacity control is limited, resulting in a price drop of $2 to $3 from October to November [2] Price Changes - The price changes for various sizes from October to November are as follows: - 32": Stable at $33.0 [3] - 50": High price at $119.0 decreased to $118.0, low price stable at $86.0 [3] - 55": High price at $117.0 decreased to $116.0, low price at $112.0 decreased to $111.0 [3] - 75": High price at $230.0 decreased to $227.0, low price at $224.0 decreased to $221.0 [3]

Group 1: TV Panels - In November 2025, TV panel prices are expected to continue declining, with a more flexible pricing strategy adopted by manufacturers as they approach year-end targets [1][2] - Despite the traditional off-season for TV panel demand, some brand clients are actively pushing for year-end goals, leading to an increase in demand for TV panels in Q4 [2] - Price forecasts for November indicate a decrease of $1 for 32-inch and 43-inch panels, $2 for 50-inch and 55-inch panels, and $3 for 65-inch and 75-inch panels [2] Group 2: Monitor Panels - The demand for monitor (MNT) panels has shown signs of weakness entering Q4, with mainstream MNT panels continuing to operate at a loss [3] - Manufacturers are unwilling to make significant price concessions or expand production, resulting in a stable pricing consensus between buyers and sellers [3] - Only the 23.8-inch Open Cell panel is expected to see a price drop of $0.2, while other mainstream sizes are projected to remain stable [3] Group 3: Laptop Panels - In November, despite a significant rise in storage prices, brand clients' purchasing momentum for laptop panels remains in line with previous expectations [4] - Brand clients continue to request price reductions for panels, prompting manufacturers to adjust prices to meet these demands [4] - Price forecasts for November indicate that only TN panels will remain stable, while other IPS mainstream sizes are expected to decline by $0.1 to $0.2 [4]

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].