Group 1 - The core observation indicates a divergence in panel procurement strategies between Chinese and Korean television manufacturers, with Chinese manufacturers actively expanding their procurement while Korean manufacturers show weaker demand [1] - Chinese television manufacturers are expected to reduce their panel procurement by approximately 9% in Q4 2025 due to financial pressures and weak demand, despite a significant increase in procurement in Q3 2025 [1][3] - Korean television manufacturers have raised their procurement plans for Q4 2025, reflecting a strategy to increase shipment volumes in response to fierce competition from Chinese brands [1][7] Group 2 - In Q3 2025, Chinese television manufacturers increased their panel procurement by 35% quarter-on-quarter and 13% year-on-year, but they anticipate a 12% decrease in Q4 2025 procurement [3][4] - The upcoming major sales events, such as "Double 11" and "Black Friday," are expected to underperform, leading to concerns about demand and pricing strategies among Chinese brands [1][3] - Korean manufacturers, while facing a 9% decline in Q3 2025 procurement, plan a 7% increase in Q4 2025, indicating a shift in strategy to counteract competitive pressures [7] Group 3 - Chinese manufacturers are looking to secure more competitive pricing from panel suppliers to mitigate losses from whole machine sales and to address conservative shipment expectations [2][4] - The end of the Chinese government's "trade-in" subsidy policy in Q4 2025 raises concerns about domestic market demand, prompting manufacturers to adjust their procurement strategies [4] - Korean manufacturers are prioritizing profit and inventory control while seeking price concessions from panel suppliers to enhance their procurement volumes if prices are competitive [7]