Core Viewpoint - The article discusses the revenue performance of six major panel manufacturers in Taiwan for January 2026, highlighting both year-on-year and month-on-month changes, as well as future market expectations for the display industry [1][2][5]. Group 1: Revenue Performance - AU Optronics reported a revenue of 4.935 billion RMB in January 2026, showing a year-on-year increase of 3.98% but a month-on-month decrease of 10.66% [1]. - Innolux achieved a revenue of 4.855 billion RMB, with a significant year-on-year growth of 18.63% and a month-on-month increase of 3.28% [1]. - HannStar reported a revenue of 231 million RMB, reflecting a year-on-year increase of 11.91% and a month-on-month growth of 12.29% [2]. - Lianjie Technology's revenue was 17 million RMB, with a year-on-year increase of 19.48% but a month-on-month decrease of 9.50% [2]. - Ralco Technology experienced a revenue of 3 million RMB, showing a year-on-year decline of 27.45% and a month-on-month decrease of 15.38% [1][2]. - Hualing Optoelectronics reported a revenue of 4 million RMB, with a year-on-year decrease of 4.26% and a month-on-month decline of 0.84% [1][2]. Group 2: Market Dynamics and Innovations - In January 2026, panel manufacturers continued to enhance their technology and market strategies, particularly focusing on automotive display technologies [3]. - Innolux showcased an integrated smart cockpit solution at CES 2026, emphasizing user experience and aiming to penetrate the Japanese automotive supply chain [3]. - AU Optronics presented several innovative automotive display products at CES 2026, including a transparent Micro LED display module and a satellite antenna, indicating a strong push into the automotive sector [3]. Group 3: Future Market Outlook - According to TrendForce's latest forecast for February 2026, the market is expected to see a mixed performance with television panel prices rising, while laptop panel prices continue to face downward pressure [5]. - The Lunar New Year production adjustments are anticipated to help maintain a balanced supply-demand situation for TV panels, benefiting major players like AU Optronics and Innolux [5]. - Conversely, the ongoing price cuts in the laptop panel segment are expected to negatively impact the revenues and profits of related companies [5].

近日，研调机构集邦科技（TrendForce）在报告指出，随着主要面板厂持续调控产能，产能利用率下降使得供给持续紧缩，2月电视面板价格将全面走扬， 显示器面板也因急单而有涨价可能。 法人看好，面板价格续扬，将助益友达、群创本季传统淡季运营。 | 品項 | 價格預估 | | --- | --- | | 電視 | ● 報價全面續漲 | | | ● 32吋、43吋與50吋調漲1美元；55吋、65吋與75吋漲 | | 監視 | ● FHD Open Cell面板23.8吋漲0.3美元,27吋漲0.1美元 | | 器直 | • 23.8吋FHD面板模組有望漲0.2美元 | | 板 | | | 華霊 | • TN機種下跌0.1美元 | | 面板 | • IPS機種下跌0.2美元 | 集邦研究副总范博毓表示，2月电视面板需求仍维持相对较稳定水平，由于面板厂明确表达将在农历春节期间进行五至起天不等的产能调控，使得平均产能 利用率约较元月下降10%，可望支撑供需维持在较平衡状态，也有助于电视面板价格上扬。 集邦预估，2月电视面板价格有望全面上涨，32英寸、43英寸与50英寸预估涨1美元; 55英寸、65英寸与75英寸估涨2美元 ...

智通财经APP获悉，2月6日，群智咨询发布2026年2月IT面板价格风向标（上旬版）。Monitor面板方面，综合供需两端，群智咨询预测，2月份 Monitor 主流IPS OC 面板将迎来全面上涨，小尺寸LCM面板价格同样有望小幅上涨，VA及中高端面板价格环比持平。 2 月份，在需求侧保持稳健与供应侧持续收紧共同推动下，全球显示器面板市场价格涨幅进一步扩大。需求侧来看，海外商用换机需求与国内信 创需求同步向好，对显示器面板需求形成基础支撑，叠加存储芯片与面板价格上涨预期带来的部分前置备货需求释放，显示器面板整体需求保持 稳健。 供应侧来看，受春节假期影响，短期内大陆面板厂商显示器产能呈现收缩趋势，叠加海外厂商显示器产能的持续收紧以及2月份自然天数的减少， 整体产能供应呈现环比下滑趋势。同时随着上游材料成本承压以及供需偏紧下议价权向供应侧倾斜，成本压力将进一步转化为面板厂商涨价动 力。 21.5"FHD，2月 IPS Open cell 面板价格环比上涨$0.2，LCM主流面板价格环比上涨$0.1； 23.8"FHD，2月 IPS Open cell 主流面板价格环比上涨$0.3，LCM主流面板价格环比上涨$ ...

Core Viewpoint - In February, TV panel prices are expected to rise across the board, while laptop panel prices are anticipated to continue their downward trend [1][4][7]. Group 1: TV Panels - Demand for TV panels remains relatively stable in February, supported by panel manufacturers adjusting production capacity during the Lunar New Year, leading to an expected average utilization rate decrease of about 10% compared to January [4]. - It is projected that TV panel prices will see a comprehensive upward trend, with 32-inch, 43-inch, and 50-inch panels expected to increase by $1, and 55-inch, 65-inch, and 75-inch panels expected to rise by $2 [4]. Group 2: Monitor Panels - With the increase in TV panel prices and better-than-expected demand for monitor panels, brands are placing urgent orders, prompting manufacturers to consider raising monitor panel prices [5]. - The 23.8-inch FHD Open Cell panel is expected to increase by $0.3, while the 27-inch FHD Open Cell panel is projected to rise by $0.1 in February [6]. Group 3: Laptop Panels - Due to tight supply and rising prices of memory and other semiconductor components, laptop brands are stockpiling panels, but they are still pushing for lower prices [7]. - Consequently, laptop panel prices are expected to decline across all sizes in February, with TN models projected to decrease by $0.1 and IPS models expected to drop by $0.2 [7].

Group 1 - The global display panel market is experiencing significant divergence across different application areas, with the monitor panel market showing signs of price stabilization and recovery, while the notebook panel market continues to face downward pressure [1] - In January, the global monitor panel market exhibited a trend of "overall stability with localized slight increases," driven by structural demand highlights despite being in a traditional off-season [4] - Key factors driving price increases include structural changes on the supply side, such as the contraction of overseas capacity and the competition for high-generation line capacity from TV and mobile products, leading to a tightening supply of monitor panels, particularly IPS panels [5] Group 2 - Sigmaintell forecasts that the prices of monitor panels will remain stable overall in January, with some specifications of open cell panels expected to see a slight price increase [5] - In contrast, the notebook panel market continues to be under pressure, with weak demand being the core issue as most mainstream brands maintain high inventory levels and focus on inventory digestion [5] - The supply side for notebook panels remains relatively loose, leading to intensified price competition among panel manufacturers, as brands exert pressure on suppliers to transfer their own cost pressures [5][6]

Core Viewpoint - In January 2026, TV panel prices are expected to rise, while monitor panel prices are projected to remain stable, and laptop panel prices are anticipated to continue their downward trend [1][4][6]. Group 1: TV Panels - Demand for TV panels remains strong as some brands continue to purchase actively, supporting stable demand and allowing manufacturers to maintain high utilization rates [4]. - Due to the upcoming Lunar New Year in February, manufacturers are planning production cuts, which may shift demand to adjacent months, leading to a stable supply-demand balance [4]. - It is expected that TV panel prices will increase by $1 across all sizes, including 32-inch, 43-inch, 55-inch, and 65-inch models [5]. Group 2: Monitor Panels - The demand for LCD monitor panels is currently in a seasonal downturn; however, manufacturers are committed to maintaining stable prices despite weaker demand [6]. - It is anticipated that monitor panel prices will remain flat in January [6]. Group 3: Laptop Panels - Laptop panel demand is expected to weaken in January, as some brands had previously stocked up in the last quarter, leading to reduced demand momentum [8]. - The impact of memory shortages and significant price increases is expected to pressure brands to negotiate lower prices for other key components, affecting laptop panel pricing [8]. - Laptop panel prices are projected to decline, with IPS models expected to drop by $0.2, while TN models are anticipated to remain stable [8].

Group 1 - The core viewpoint indicates that the pricing trends for IT panels in December show a divergence, with monitor panel prices remaining stable while laptop panel prices are under downward pressure [1][2] - Monitor panel prices are expected to remain flat in December due to weak demand in the fourth quarter, although some customers are increasing their orders, leading to a potential price increase starting January 2026 [1] - The panel manufacturers are reluctant to lower prices due to long-term losses on mainstream products, and brand customers are accepting stable prices, which contributes to the flat pricing trend for monitor panels [1] Group 2 - Laptop panel demand in December is impacted by storage shortages and significant price increases, prompting some brands to increase shipments of mid-range models before potential price hikes in early next year [1] - The demand for panels in 2026 is expected to be more uncertain due to storage issues, and despite some increase in demand, manufacturers are softening their pricing stance to maintain customer relationships [2] - It is anticipated that laptop panel prices, excluding TN models, will decrease by $0.1 to $0.2, with further downward pressure expected in the first quarter of next year due to weaker demand [2]

Group 1 - Morgan Stanley's report indicates that TV brands have resumed normal procurement in response to year-end promotional activities in China and Europe, leading to a shift from a decrease to an increase in panel shipments for Q3, benefiting Taiwanese manufacturers AUO and Innolux [1] - The report highlights that September panel prices remained stable, with mainstream TV panel prices for sizes 32, 43, 55, 65, and 75 inches showing signs of bottoming out [1] - Q3 panel shipments are expected to increase by a low single-digit percentage, contrasting with a 9% decline in Q2 due to tariff uncertainties, which is anticipated to enhance panel manufacturers' bargaining power and alleviate price pressures [1] Group 2 - The stabilization of TV panel prices is expected to positively influence market sentiment towards panel stocks, particularly benefiting Taiwanese firms AUO and Innolux, with an estimated 2% quarter-over-quarter decrease in TV panel prices for Q3 [2] - IT panel prices are also expected to remain stable in September, with both monitor and notebook panel prices aligning with expectations, indicating a stable outlook for IT panel prices in the coming quarters [2] - Despite the positive sentiment from increased Q3 shipments and stabilized TV panel prices, the industry remains cautious, maintaining a "neutral" rating for AUO and Innolux while awaiting clearer signals for a price rebound [2]

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: Display Panel Market Overview - In August, the global display panel market continued to experience weak supply and demand dynamics, with panel prices remaining stable [1] - Domestic market support from the third batch of national subsidies for display categories was limited, and consumer demand significantly weakened [1] - In North America, major brands shifted their procurement strategies from "policy-driven" to "cost and inventory constraints," leading to more conservative demand release [1] Group 2: Monitor Panel Market Insights - The supply side saw an increase in the operating rate of high-generation panel factories in Q3, but TV panel demand and growth in small-size applications continued to exert structural pressure on monitor capacity [1] - Overall monitor capacity contracted month-on-month due to ongoing reductions in LCD capacity from overseas manufacturers [1] - Monitor panel prices for mainstream specifications are expected to remain stable in August, with slight adjustments for some specifications [1] Group 3: Notebook Panel Market Dynamics - The global notebook panel market in August showed a continuation of demand differentiation and supply adjustments [2] - The stability of U.S. tariff policies provided certainty for the market, while the "back-to-school" season and preparations for "Black Friday" in Europe and the U.S. slightly boosted overall market demand [2] - However, rising costs in the manufacturing segment and increased prices for core CPU components significantly pressured brand profitability, leading to tighter procurement strategies among brands [2] Group 4: Price Performance of Specific Panel Sizes - For monitor panels, prices for 21.5" FHD, 23.8" FHD, and 27" FHD Open Cell & LCM remained flat in August compared to July [3] - In the notebook segment, the mainstream TN LCM price for low-end HD remained stable, while prices for IPS FHD & FHD+ products saw slight declines of $0.1 and $0.2 for different specifications [2][3]