10月7日，TrendForce集邦咨询发布10月上旬面板价格预测。具体来看：电视、显示器面板价格 预估与上月保持一致，笔电面板部分尺寸价格则预计有小幅度下跌。 | 发表日期: | 2025.10.07 | | | | | | TrendForce | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | (单位:美元/片) | | | | | | | | | | 应用别 | R4 | 分辨率 | 出货型态 | | | 液晶显示屏价格下旬预测 | | | | | | | | TE | 高 | 均价 | 与前月差异(%) | | | 电视 | es"W | 3840x2160 | Open-Cell | 167 | 176 | 173 | 0.0 | 0.0% | | | 55"W | 3840x2160 | Open-Cell | 118 | 127 | 124 | 0.0 | 0.0% | | | 43"W | 1920x1080 | Open-Cell | 62 | ୧୧ | 64 | 0.0 | 0.0% | | | 32''W | 13 ...

Core Viewpoint - The global panel market experienced a price stabilization in Q3 2025, with TV panel prices halting their decline, while monitor and laptop panel prices remained stable. This stability was influenced by manufacturers' capacity control strategies and brand preparations for the year-end sales season, although uncertainties remain for Q4 due to ongoing supply-demand dynamics [2][18]. TV Panels - The TV panel market reversed its previous downward trend in Q3, driven by seasonal stocking demands from brands for the year-end promotional season [3][14]. - In July, demand was weak, leading to price declines for various sizes of TV panels, with 32-inch and 43-inch panels dropping by $1, 50-inch and 55-inch by $2, and 65-inch and 75-inch by $3 [5][6]. - By August, demand increased as brands began stocking for promotions, resulting in stable prices across all sizes of TV panels [6][8]. - September saw continued price stability, supported by brand stocking activities and manufacturers planning production cuts for October to address potential demand slowdowns [8][14]. Monitor Panels - Unlike TV panels, monitor panel prices remained stable throughout Q3, despite a slight 4.7% decrease in demand [8][9]. - The lack of price decline was attributed to manufacturers' reluctance to lower prices due to existing losses on mainstream monitor panel sizes, leading to reduced supply to support price stability [9][14]. - Both brands and manufacturers reached a consensus to maintain price stability, avoiding strong demands for price reductions [9][14]. Laptop Panels - The laptop panel market showed strong demand in Q3, with a 5.1% increase in demand compared to the previous quarter, but prices remained stable [10][12]. - The stability in prices was primarily due to competition among manufacturers, who avoided price increases to maintain customer relationships and market share [12][13]. - Manufacturers anticipated a potential demand decline in Q4, leading them to prefer price stability to solidify customer relations [13][14]. Key Factors Influencing Price Trends - The primary demand driver in Q3 was the seasonal stocking by brands for year-end promotions, which helped stabilize TV panel prices [14][15]. - Manufacturers' capacity control strategies, including production adjustments and planned reductions, played a crucial role in preventing further price declines [14][15]. - Competitive dynamics in the laptop panel market limited price increases despite strong demand, as manufacturers focused on maintaining long-term customer relationships [15][18]. Outlook for Q4 - The price stability achieved in Q3 is expected to face challenges in Q4, with anticipated declines in procurement momentum for TV panels as brands complete their stocking [16][18]. - Manufacturers plan to reduce production rates in October, which may impact price stability for TV panels [16][18]. - The monitor panel market may see continued price stability for mainstream sizes, but higher-end models could face downward price pressure [16][18]. - There is a high risk of price declines for laptop panels in Q4, as demand is expected to weaken, shifting bargaining power towards brand customers [17][18].

Core Viewpoint - The article discusses the revenue performance of six Taiwanese panel manufacturers in August 2025, highlighting both year-on-year and month-on-month changes, as well as the overall market trends in the panel industry [2][3][4]. Revenue Performance Summary - AU Optronics reported a revenue of 5.754 billion, a year-on-year decrease of 9.16% but a month-on-month increase of 17.29%, with a cumulative revenue of 43.805 billion, reflecting a slight year-on-year growth of 0.60% [2]. - Innolux achieved a revenue of 4.383 billion, showing a year-on-year increase of 1.15% and a month-on-month decrease of 2.97%, with a cumulative revenue of 35.203 billion, marking a year-on-year growth of 4.62% [2]. - HannStar reported a revenue of 203 million, with a remarkable year-on-year increase of 38.37% but a month-on-month decrease of 3.93%, accumulating to 1.798 billion, which is a year-on-year growth of 25.34% [2]. - Lianjie Technology's revenue was 185 million, reflecting a year-on-year increase of 3.00% and a month-on-month increase of 24.52%, with a cumulative revenue of 1.337 billion, showing a year-on-year growth of 2.87% [2]. - Ralco Technology reported a revenue of 53 million, with a year-on-year increase of 17.17% but a significant month-on-month decrease of 56.15%, accumulating to 659 million, which is a substantial year-on-year growth of 82.58% [2]. - Hualing Optoelectronics had a revenue of 37 million, showing a year-on-year decrease of 13.80% and a month-on-month decrease of 7.79%, with a cumulative revenue of 316 million, reflecting a minimal year-on-year growth of 0.04% [2]. Market Trends - The panel market saw a stabilization in TV panel prices in August, with a notable increase in demand as brands aimed to boost year-end promotions, particularly for small-sized TV panels [3][4]. - The demand for monitor panels decreased compared to the second quarter, but prices remained stable due to the overall market conditions [4]. - Laptop panel demand continued to be strong in the third quarter, with prices remaining stable amid competitive pressures among manufacturers [4][7]. Company Dynamics - In August, AU Optronics underwent organizational restructuring, appointing its chairman as the group CEO to accelerate strategic transformation and global integration [8]. - Innolux initiated a restructuring process to adapt to market changes, focusing on non-display business segments [8]. - HannStar simplified its organizational structure by merging several subsidiaries, aiming to enhance operational efficiency [9].

Summary of Key Points Core Viewpoint - According to TrendForce's latest research data, it is projected that the prices of TV, monitor, and laptop panels will remain stable by September 2025 [1]. TV Panels - The average price for a 65-inch TV panel is expected to be $173, with a minimum price of $167 and a maximum of $176 [2]. - The average price for a 55-inch TV panel is projected at $124, with a minimum of $118 and a maximum of $127 [2]. - The average price for a 43-inch TV panel is anticipated to be $64, with a minimum of $62 and a maximum of $65 [3]. - The average price for a 32-inch TV panel is expected to be $35, with a minimum of $34 and a maximum of $36 [4]. Monitor Panels - The prices of monitor panels are also expected to remain stable [5]. - The average price for a 27-inch IPS panel is projected at $63, with a minimum of $57.6 and a maximum of $65.8 [6]. - The average price for a 23.8-inch IPS panel is expected to be $49.9, with a minimum of $47.1 and a maximum of $51.4 [7]. Laptop Panels - The prices of laptop panels are anticipated to remain unchanged [8]. - The average price for a 17.3-inch TN panel has stabilized at $38.3, with a minimum of $37.7 and a maximum of $39.8 [8]. - The average price for a 15.6-inch Value IPS panel is projected to be $40.3, consistent with the previous month, with a minimum of $38.6 and a maximum of $41.9 [8]. - The average price for a 14.0-inch TN panel has stabilized at $26.9, with a minimum of $26.4 and a maximum of $28.1 [8]. - The average price for an 11.6-inch TN panel has remained at $25.1, with a minimum of $24.2 and a maximum of $26.5 [8].

Core Viewpoint - The reduction in production and sales by mainland Chinese panel manufacturers has effectively stabilized TV panel prices in the third quarter, with expectations for balanced supply and demand in the fourth quarter, leading to minimal price fluctuations, particularly for TV panels [1] Group 1: Production and Pricing - Mainland Chinese panel manufacturers have successfully implemented production and sales controls, resulting in a significant reduction in output during June, July, and August [1] - The measures taken have led to a halt in the decline of TV panel prices, with projections indicating stability in the fourth quarter [1] Group 2: Profitability - Panel manufacturers are expected to achieve profitability under the current conditions, although they will not see excessive profits [1] - Taiwanese panel manufacturers, including AUO and Innolux, are also anticipated to be profitable, with a stable customer base that includes Korean brands and Chinese TV manufacturers [1]

Core Viewpoint - The recent report from Morgan Stanley indicates that while TV panel prices have stabilized, the average price for the third quarter is still expected to decrease by approximately 2% compared to the previous quarter, reflecting limited recovery in pricing momentum for companies like AUO and Innolux [1][2] Group 1: Price Trends - In August, the prices for TV, monitor, and laptop panels remained flat month-over-month, which is better than the previously expected decline of 0.3% [1] - The mainstream sizes of TV panels, including 32, 43, 55, 65, and 75 inches, all maintained stable pricing throughout August [1] - Despite the stabilization, the timing for a price rebound remains unclear, which is crucial for the industry's trajectory [1][2] Group 2: Demand and Supply Dynamics - TV brands have resumed normal procurement starting in August to prepare for promotional demands in China, the U.S., and Europe by year-end [1] - The previous overstock situation is gradually being resolved, and ongoing trade negotiations are stabilizing tariff issues, which helps restore market confidence [1] Group 3: Shipment and Capacity Utilization Outlook - The third quarter is expected to see a low single-digit percentage increase in TV panel shipments, improving from a 9% decline in the second quarter [1] - According to Morgan Stanley's survey, manufacturers' capacity utilization is projected to slightly increase from 75%-80% in the second quarter to 80%-85% in the third quarter, indicating a gradual recovery in shipment momentum [1] Group 4: Future Expectations - Morgan Stanley anticipates that TV panel prices will remain generally flat in the near term, benefiting from a rebound in order momentum, which could enhance the bargaining power of panel manufacturers [2] - The prices for information panels, including monitors and laptop panels, are expected to remain stable in the coming quarters, with the third quarter projected to show flat pricing [2] - Although AUO and Innolux have been diversifying into automotive subsystems and industrial displays, standard panels still constitute the majority of their revenue [2]

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]

Core Viewpoint - The panel prices for TVs, monitors, and laptops remained stable in August 2025, with expectations of increased demand, particularly for small-sized TV panels, as brands aim to boost sales towards year-end promotions [4][6]. Panel Price Observations - The prices for TV panels, including sizes from 32 inches to 75 inches, are expected to stabilize, reflecting a trend of demand recovery [6]. - The demand for monitor panels decreased slightly by 4.7% compared to the second quarter, leading to potential price negotiations between buyers and sellers, although most manufacturers are maintaining stable pricing due to ongoing losses [7]. - The demand for notebook panels is anticipated to see a slight increase of 1.8% in the third quarter, with manufacturers reluctant to raise prices amid competitive order conditions [8].

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].

Group 1: Core Insights - The article highlights the revenue performance of six Taiwanese panel manufacturers for July 2025, indicating mixed results with some companies experiencing declines while others saw growth [1] - AUO and Innolux reported a year-on-year revenue decrease of 15.85% and 27.58% respectively, while Qunxing and Raibo achieved year-on-year increases of 9.13% and 171.44% [1] - The overall market for TV panels remains weak, with price declines noted, while demand for monitor panels has also started to slow down [2][3] Group 2: Market Trends - TrendForce reported that TV panel prices continued to decline in July, while prices for monitor and laptop panels remained stable [2] - The demand for TV panels is expected to improve in August and September, but July's demand was relatively weak, leading to price drops [2][3] - The monitor panel market is experiencing a slowdown, with prices stabilizing despite some optimistic forecasts for laptop panel demand [3] Group 3: Company Developments - Innolux plans to consolidate production capacity from its Nanke 5 plant to other facilities, with the migration expected to be completed by mid-2026 [5] - Lianju Technology announced a significant order for a 2.4-inch display module, expected to contribute NT$700-800 million in annual revenue starting next year [5] - AUO is undergoing organizational restructuring to enhance operational efficiency and adapt to external market changes, with new leadership roles established [5] Group 4: Future Outlook - Both AUO and Innolux expressed cautious outlooks for the third quarter due to uncertainties related to tariffs and early inventory pulls by brands [6]