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]

| 应用别 | 尺寸 | 分辨率 | 出货型态 | | | 液晶显示屏价格 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | THE | 를 | 均价 | 与前月差异(%) | | | 电视 | ee "M | 3840x2160 | Open-Cell | 167 | 176 | 173 | 0.0 | 0.0% | | | SE. M | 3840x2160 | Open-Cell | 118 | 127 | 124 | 0.0 | 0.0% | | | 43"W | 1920x1080 | Open-Cell | 62 | ર્સ્ટ | 64 | 0.0 | 0.0% | | | 32"W | 1366x768 | Open-Cell | 34.0 | 36.0 | 35.0 | 0.0 | 0.0% | | 桌上显示器 | 27"W (IPS) | 1920x1080 | LED | 57.6 | 65.8 | 63.0 | 0.0 | 0.0% | | | 23.8"W (IPS) | 1920x1080 ...

Core Insights - The global smartphone terminal market is experiencing stable demand, with brand competition focusing on pricing and channel strategies. However, market growth is shrinking due to increased inventory and strong cost-reduction demands from terminal brands [1][2]. Panel Demand Analysis - **a-Si LCD**: Demand remains high due to stable needs from white-label customers and the repair market, but price sensitivity in the low-end market leads to slight price reductions from suppliers [1]. - **LTPS LCD**: Both supply and demand are expected to remain low, with manufacturers shifting capacity to mid-size products, resulting in stable prices for LTPS LCD smartphone panels [1][4]. - **ROLED**: Prices for rigid OLED panels have slightly decreased, but demand has not significantly increased due to more brands shifting towards FOLED [2]. - **FOLED**: Demand is expected to grow in the third quarter, but intense competition during project bidding has led to a disconnect between demand growth and price reductions [2]. Tablet Panel Market - In the domestic market, tablet sales exceeded expectations during the "618" promotion, but demand is adjusting post-promotion, leading to reduced panel procurement by some brands. Ongoing tightening of national subsidies is further suppressing consumer purchasing intent [3]. - In North America, overall consumer demand remains weak despite cost transfers from supply chain shifts not yet impacting end prices [3]. Supply Side Overview - **a-Si LCD**: Demand related to tablets remains stable, with prices holding steady [4]. - **LTPS Production Lines**: Despite pressure on smartphone panel demand, strong demand for mid-size products keeps production lines operating at high utilization rates, maintaining stable prices [4].

近日，友达光电、群创光电、瀚宇彩晶、凌巨科技、铼宝科技、华凌光电6家台湾地区面板厂商相 继公布2025年7月营收。具体情况如下： | 变 | 7月营收 | 同比增减 | 环比增减 | 2025年累计营收 | 同比增减 | | --- | --- | --- | --- | --- | --- | | 友达光电 | 50.26亿元 | -15.85% | -4.56% | 389.75亿元 | 2.26% | | 群创光电 | 46.27亿元 | 9.13% | 4.07% | 315.69亿元 | 5.14% | | 瀚宇彩晶 | 2.16亿元 | 15.70% | -2.89% | 16.34亿元 | 23.86% | | 凌巨科技 | 1.52亿元 | -27.58% | -15.12% | 11.80亿元 | 2.85% | | 锌宝科技 | 1.24亿元 | 171.44% == 3.98% | | 6.20亿元 | 92.01% | | 华凌光电 | 0.41亿元 | -7.30% | 5.28% | 2.85 亿元 | 2.23% | 其中，群创、铼宝7月营收实现了同比与环比的双重上升；友达、凌巨 ...

01 据CINNO Research数据显示，今年二季度国内市场TV销售量同比下滑10%，多省市6月国补政策暂停 或成为其下滑主要原因。进入三季度7月，终端需求转弱导致面板价格跌幅扩大。今年8月随着国补资金全 部到位，国补政策将持续发挥效能，叠加品牌厂或提前为旺季备货，终端需求有望温和复苏。此外，面板 厂或策略性上调稼动率以响应订单回暖，部分面板价格在两端支撑的情况下或减小跌幅。 02 " 进入8月，部分品牌商启动四季度旺季备货，同时国补资金逐步到位、叠加美对华及墨西哥关税政策90 天缓冲期，对终端需求回暖带来一定的积极影响。面板厂或延续供应宽松格局，预计8月面板价格跌幅将 有所收窄。 " | | | | | Worldwide TV Display Panel Price Dynamic | | | | --- | --- | --- | --- | --- | --- | --- | | | Size & Resolution | | Technology | Jul.25' | Aug.25'(E) | Differ | | 32" | 60Hz | HD | LCD | $32.0 | $32.0 | ...

Group 1 - The core viewpoint indicates that despite ongoing weak demand, supply-side adjustments are maintaining a weak balance in the market, supporting a stabilization in panel prices in the short term. However, mid-to-high-end panel prices are facing slight downward pressure due to the transmission effect of TV prices [1] - In August, the global display panel market continued to experience weak demand, with prices showing a trend of stability with slight adjustments. The domestic market's third batch of national subsidies has limited impact, and brand procurement demand is decreasing [1] - The supply side is undergoing structural adjustments, with overseas manufacturers reducing LCD production capacity, while demand for TV panels is recovering moderately, further squeezing the capacity for display panels [1] Group 2 - For monitor panels, prices for 21.5" FHD, 23.8" FHD, and 27" FHD Open Cell & LCM panels are expected to remain stable in August [2] - In the notebook panel market, August is characterized by differentiated demand and supply adjustments. The back-to-school season and upcoming Black Friday are expected to slightly boost demand, although some brands are tightening procurement strategies [3] - Price predictions for notebook panels in August indicate that low-end HD TN panel prices are expected to remain stable, while mid-to-high-end specifications are showing a mixed trend [3]

Group 1: Core Insights - TrendForce's August panel price forecast indicates that TV panel prices have stopped declining, while monitor and laptop panel prices remain stable [1][4]. - TV brands are preparing for year-end promotions and maintaining procurement momentum for TV panels, leading to optimistic signals from panel manufacturers [4]. - Demand for TV panels is notably stronger for sizes below 50 inches, while demand for larger sizes (55 inches and above) remains weak, with inventory adjustments ongoing [4]. Group 2: Monitor Panel Insights - Demand for monitor panels has weakened entering the third quarter, with no upward price momentum observed [5]. - Most monitor panels are still operating at a loss, leading manufacturers to limit production, resulting in some mainstream sizes experiencing shortages [6]. - The expectation for August is that monitor panel prices will remain stable across the board [6]. Group 3: Laptop Panel Insights - Laptop panel demand is expected to remain stable through August, with some brands showing particularly strong demand [7]. - Manufacturers have limited room for price reductions on mainstream specifications, relying on high-end models for adjustments [7]. - The price trend for major laptop panel specifications is anticipated to remain stable, with discounts based on individual customer relationships [7].

Core Viewpoint - In July 2025, TV panel prices declined while monitor and laptop panel prices remained stable, indicating a weak demand in the TV panel market and a cautious outlook for the monitor and laptop segments [3][5][10]. TV Panels - The demand for TV panels in July remained weak due to some brand clients adjusting their procurement orders for Q3, which they used as leverage for negotiations [5][6]. - It is anticipated that with the approach of the year-end sales season, brand clients will increase their procurement volumes in August and September, potentially stabilizing panel prices [6]. - The price forecast for July indicates 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 [7]. Monitor Panels - As the third quarter begins, the demand for monitor panels has shown signs of slowing down, with only a few specifications experiencing slight supply shortages [8]. - The overall price trend for monitor panels in July is expected to remain flat, influenced by the declining demand and prices in the TV panel market [8]. Laptop Panels - The demand for laptop panels is expected to perform better in July and August, driven by a more optimistic outlook from some brand clients [10]. - Despite this positive outlook, panel manufacturers are hesitant to raise prices and may offer discounts to maintain customer relationships, leading to a stable price forecast for July [10].

Group 1: TV Panel Market - The demand for TV panels has shown a clear weakening trend since June, with brands adopting a more conservative purchasing attitude due to unclear terminal demand in the second half of the year and rising inventory levels [2][3] - Some brand clients have begun to request special pricing or MDF from panel manufacturers, who are showing slight flexibility in pricing due to the evident decrease in demand [3] - Price forecasts for June indicate a decline of $1 for 43-inch, 50-inch, and 55-inch panels, while 65-inch and 75-inch panels are expected to drop by $1 to $2 [3] Group 2: Monitor Panel Market - The demand for monitor panels has peaked, with brand clients showing signs of adjusting their orders, influenced by the weakening demand for TV panels [4] - Despite panel manufacturers hoping for slight price increases, most brand clients are resistant to continued price hikes in June, leading to an expectation of stable prices for monitor panels [4] Group 3: Laptop Panel Market - Brands are becoming more optimistic about the demand for laptop panels in the second half of the year, leading to an increase in orders [5] - The pricing trend for laptop panels is expected to remain stable, although there are emerging issues with memory shortages and significant price increases that could impact future order placements by brand clients [6]

Core Viewpoint - The panel prices for televisions have decreased in June 2025, while monitor and laptop panel prices have remained stable. The demand for television panels is weakening, leading brands to adopt a more conservative purchasing attitude [2][4]. Television Panels - In June, the demand for television panels has shown a more pronounced weakening trend, with brands becoming more cautious in their procurement. The unclear terminal demand for the second half of the year and rising inventory levels have led some brands to consider reducing their procurement momentum for Q3 [2][4]. - It is estimated that the prices for 43-inch, 50-inch, and 55-inch television panels will decrease by $1, while 65-inch and 75-inch panels are expected to drop by $1 to $2 [4]. Monitor Panels - The demand for monitor panels is reaching its peak, with brand clients beginning to adjust their orders. The weakening demand for television panels and their price declines are starting to affect monitor panel prices. Despite manufacturers hoping for slight price increases, most brand clients are not accepting continued price hikes in June, leading to an expected stabilization of monitor panel prices [5]. Laptop Panels - Brands are becoming more optimistic about the demand for laptops in the second half of the year, leading to an increase in orders for laptop panels. However, manufacturers are unlikely to propose price increases to maintain customer relationships and may employ various non-public pricing strategies to secure orders [6][7]. - The prices for laptop panels are expected to remain stable in June, although there are emerging concerns about memory shortages and significant price increases, which could impact future procurement attitudes of brand clients [7].