Core Viewpoint - The article discusses the performance and strategies of six Taiwanese panel manufacturers in May 2025, highlighting revenue growth for some companies and the overall market dynamics affecting panel prices and demand [1]. Market Trends and Price Movements - In May, TV and laptop panel prices remained stable, while monitor panel prices experienced a slight increase [1]. - TrendForce indicated a weakening demand for TV panels, leading to increased inventory levels among brand manufacturers, which pressured panel manufacturers to stabilize prices through capacity adjustments [1]. - The monitor panel market saw increased demand due to tariff issues, with some brand clients ramping up inventory ahead of a three-month tariff exemption expiration [1]. - For June, TrendForce forecasts stable prices across TV, monitor, and laptop panels, with potential slight declines in specific TV panel sizes due to buyer pressure [2]. Panel Manufacturers' Dynamics and Strategies - In response to market fluctuations, several panel manufacturers took proactive measures in May [3]. - AUO Display Plus, a subsidiary of AUO, formed a strategic partnership with US-based Nanolumens to develop customized display systems leveraging Micro LED technology [4]. - AUO reported advancements in Micro LED applications for TVs and automotive displays, with products already adopted by companies like Samsung and Sony Honda Mobility [4]. - Innolux showcased innovative Micro LED products at the SID Display Week 2025 and expanded into non-display sectors by collaborating with Delta Electronics to establish a large-scale energy storage system [4]. - HannStar achieved a 14.3% month-over-month increase in shipments of small-sized panels (under 11 inches) and a 34.0% increase in large-sized and proprietary brand products [5].

Core Viewpoint - The panel prices in May are expected to remain stable, with varying trends across different segments such as TV, monitor, and laptop panels [1][5]. TV Panels - Demand for TV panels has weakened in May, leading brand customers to adjust orders and negotiate for price reductions to offset rising costs from tariffs [2]. - Panel manufacturers are implementing capacity adjustments to stabilize prices, anticipating ongoing negotiations between buyers and sellers [2]. Monitor Panels - Monitor panel prices are expected to rise due to the ongoing tariff issues, with brand customers increasing inventory ahead of a three-month tariff exemption expiration [3]. - Specific price forecasts for May include an increase of $0.2 for Open Cell panels and $0.1 for 21.5-inch and 27-inch modules, with a $0.2 increase for the 23.8-inch panels due to strong demand [3]. Laptop Panels - Despite ongoing tariff discussions, urgent orders from some brand customers have emerged, but overall demand remains stable and is not expected to fluctuate significantly [4]. - Manufacturers are cautious about raising prices due to uncertainties surrounding tariff policies and potential cost increases from relocating production, prioritizing stable relationships with clients [4].

Core Insights - The panel prices for televisions and laptops remained stable in May 2025, while monitor panel prices saw a slight increase [3][4][6]. Group 1: Television Panel Market - Demand for television panels has shown signs of weakening as brand clients increase their inventory, leading to adjustments in orders and price negotiations with panel manufacturers [4][7]. - Manufacturers are implementing capacity adjustments to stabilize panel prices amid decreasing demand, with expectations of a price standoff between buyers and sellers [4][7]. - Overall, television panel prices are projected to remain flat in May 2025 [4][7]. Group 2: Monitor Panel Market - The monitor panel market is experiencing good demand driven by tariff issues, with some brand clients increasing their stock ahead of the expiration of a three-month tariff exemption [6][7]. - Prices for Open Cell panels are expected to rise by $0.2, with specific sizes like 21.5-inch and 27-inch projected to increase by $0.1, and the 23.8-inch size expected to rise by $0.2 due to strong demand [6][7]. - Despite some urgent orders, the demand remains inconsistent due to varying progress in Southeast Asia, leading to a cautious approach from manufacturers regarding price increases [7].

Group 1 - The demand for TV panels is gradually weakening in May, leading brand manufacturers to adjust orders and request price concessions from panel manufacturers due to rising inventory levels [1] - Panel manufacturers are implementing a series of capacity adjustment measures to stabilize panel prices, with expectations that prices will remain flat in May [1] - TV brand manufacturers are hoping for price reductions from panel manufacturers to offset the cost pressures arising from increased tariffs, which could aid in the promotional rhythm for the second half of the year [2] Group 2 - The demand for LCD monitor panels remains strong, driven by tariff issues, with some brand manufacturers increasing stock ahead of a three-month exemption period for high tariffs [2] - Prices for LCD monitor panels are expected to continue rising in May, with specific increases noted for various sizes, such as a $0.2 increase for non-backlit modules and $0.1 for 21.5-inch and 27-inch panels [2] - In the laptop market, while there are urgent orders due to varying progress in Southeast Asia, the overall demand remains stable, with expectations that laptop panel prices will remain flat in May [2]

Core Viewpoint - The ongoing US-China tariff war is creating uncertainty in the global economy, leading to concerns among clients and impacting demand forecasts for the semiconductor industry. The situation requires careful observation before making predictions about the economic outlook for the year [1][2]. Group 1: Tariff Impact and Economic Outlook - The chairman of a leading semiconductor foundry noted that the tariff situation is still evolving, making it difficult to predict the global economic landscape. The potential for demand decline could have severe repercussions for the global economy if the US-China tensions are not resolved peacefully [1]. - The imposition of tariffs by the US, while initially excluding semiconductor chips, has created a climate of uncertainty that complicates industry forecasts. Companies are responding differently, with some increasing shipments to the US while others are concerned about inventory accumulation [1][2]. Group 2: Company Strategy and Investments - The company has no plans to establish manufacturing facilities in the US, focusing instead on its ongoing investment in a 12-inch wafer fab in Singapore, with an investment of nearly 200 billion TWD. The company remains committed to its existing investment plans despite the tariff situation [4]. - The company is on track with its joint venture in Singapore, with the first 12-inch fab expected to begin production in the second half of 2026 and reach mass production by 2027. The anticipated monthly capacity for the fab by 2029 is 55,000 wafers, which will create approximately 1,500 jobs and contribute to the semiconductor ecosystem [5]. Group 3: Future Projections - The company expects a moderate growth in the semiconductor market by 2025, contingent on the recovery of inventory levels. However, the ongoing tariff conflict has rendered many forecasts unreliable, making it challenging to predict future trends accurately [2]. - The company plans to allocate 60-70 billion TWD for capital expenditures in 2025, with over 90% directed towards the new Singapore 12-inch fab, ensuring a stable supply of mature process capacity [4].