12月18日，CINNO Research发文指出，进入12月，尽管年末促销旺季接近尾声，手机面板市场整体稼动率仍保持在高位，但内部结构性分化趋势愈发显 著。a-Si模组则在低端手机及维修市场的稳定支撑下保持满产，但模组端竞争激烈，价格承压；LTPS产线受益于车载、笔电和平板等非手机应用的强劲需 求，稼动率持续高位运行；柔性AMOLED面板厂则面临稼动率小幅下滑与价格走低的双重压力。 | | Size & Resolution | | Technology | | Touch | Nov.25' | Dec.25'(E) | | --- | --- | --- | --- | --- | --- | --- | --- | | 6.5x" | Notch | HD+ | LCD | a-Si | TDDI | $6.4 | $6.4 | | 6.5x" | Notch | FHD+ | LCD | ГТРЅ | TDDI | $9.3 | $9.3 | | 6.4x" | Notch | FHD+ | AMOLED | Rigid | On Cell | $16.0 | $16.0 | | 6.7x" | H ...

01 02 a-Si方面：a-Si面板凭借在低端手机及维修市场的需求保持稳健，主力产线持续满载运转。预计从当前至 年底，a-Si模组价格将整体持稳。进入2026年1月，手机面板市场将正式步入传统淡季，需求支撑减弱， 与此同时，多条新产线计划扩大出货规模，市场供给压力有望进一步加大，在此背景下，a-Si Cell价格或 将维持或微幅下调，而模组价格则大概率持续走低； 03 " 进 入 12 月 ， 尽 管 年 末 促 销 旺 季 接 近 尾 声 ， 手 机 面 板 市 场 整 体 稼 动 率 仍 保 持 在 高 位 ， 但 内 部 结 构 性 分 化 趋势愈发显著。 " | Size & Resolution | | | Technology | | Touch | Nov.25' | Dec.25'(E) | Differ | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 6.5x" LCD | Notch | HD+ | | a-Si | TDDI | $6.4 | $6.4 | $0.0 | | 6.5x" LCD | Notch | ...

Core Viewpoint - The mobile display panel market is experiencing high operating rates due to strong demand driven by the traditional peak season in Q3, with market prices showing slight declines [2][3]. Group 1: a-Si Panels - a-Si panels continue to see strong demand in the mid-to-low-end market, but increased competition at the module level is leading to slight price declines [3]. - Despite stable screen prices, core components like driver ICs are in a downward cycle, and a-Si module prices are expected to continue to decrease slightly due to intense competition and price pressure from brand clients [3][4]. Group 2: LTPS Panels - The demand growth in the automotive display market, along with the iteration of notebooks and tablets, keeps LTPS production lines operating at full capacity [3]. - However, demand for LTPS in the smartphone sector remains sluggish, prompting some panel manufacturers to lower prices further to secure new project orders, with an expected price drop of $0.1 [3][4]. Group 3: AMOLED Panels - The demand for rigid AMOLED panels is declining due to the accelerated replacement by flexible panels, leading to short-term price stabilization at low levels [3]. - Flexible AMOLED panels are nearing full production capacity due to seasonal stocking, but aggressive pricing strategies by some manufacturers have initiated a downward price trend [3][4].