In July, shipments of LCD TV panels of 9 inches and above reached a record high.
According to IHS Markit's large-size display market tracking report, unit shipments of LCD TV panels increased by 15% year-on-year to 24.6 million units, and area shipments increased by 21% to 13.3 million square meters.
Panel manufacturers suffered from high inventory of TV panels in the first half of 2018 due to increased capacity.
Panel prices have been weak for a year, resulting in a significant drop in panel makers' profit margins.
“Therefore, panel makers want to clear their inventory before the high demand season in the third quarter, with the goal of increasing panel prices again,” Wu said.
“This has led to a rapid increase in TV panel shipments in the near term, resulting in the largest shipments of large-size panels in July reaching an all-time high.” As panel makers hoped, LCD TV panel prices rebounded in July 2018.
China's panel maker BOE led the large TFT LCD market in terms of unit shipments in July 2018, accounting for 24%, followed by LG Display, which accounted for 19%.
However, in terms of area shipments, LG Display continues to lead with a market share of 20%, followed by BOE's 18%.