Global LCD TV panel shipment area will increase by 10% in Q1 of 2024, with large sizes increasing across the board

News from this site on April 30, according to the "Global LCD TV Panel Market Monthly Tracking" report released by RUNTO, In the first quarter of 2024, global large-size LCD TV panel shipments were 56.5M pieces, up 1.3% and 11.3% month-on-month respectively; the shipment area reached 41.0M square meters, up 9.6% year-on-year, and 5.6% month-on-month.

According to data, large-size panels have great advantages in three aspects: capacity consumption, revenue and profit. In the first quarter of this year, shipments of ultra-large LCD TV panels of 75 inches and above increased by 32.6% year-on-year. Among them, the combined shipments of the two major sizes, 98-inch and 100-inch, experienced an explosive growth of 350.0% compared with the same period last year.

The report shows that In the first quarter of this year, the top three TV panel manufacturers in mainland China reduced production in order to stabilize the market, and thus their share of the global market declined. In the first quarter, the combined market share of Japanese and Korean panel factories was 13.4%, a year-on-year increase of 4.2 and 1.4 percentage points respectively. Taiwanese panel manufacturers Innolux and AUO had a combined market share of 20.4% in the first quarter of this year, a slight increase; their combined shipments increased by 3.3% and 10.2% respectively year-on-month.

Within the statistical scope, the shipments of the world’s eight major panel manufacturers were evenly divided between increases and decreases. Among them, those with year-on-year growth were: Japanese and Korean Sharp (Sharp) and LGD (LGD Display), Taiwanese AUO (AUO) and mainland China CSOT (China Star Optoelectronics).

• BOE (BOE) shipped approximately 13.2 million pieces in the first quarter, a year-on-year decrease of 6.0%, a month-on-month increase of 11.0%, and a market share of 23.4%, a year-on-year decrease of 1.8 percentage points.

• Mainland panel manufacturers CSOT and HKC shipped approximately 11.5 million pieces and 9.3 million pieces respectively in the first quarter, with one increase and one decrease year-on-year. CSOT increased by 1.4% and HKC decreased by 8.4%. Their market shares are 20.4% and 16.5% respectively.

• Taiwanese panel manufacturer Innolux shipped approximately 7.7 million pieces in the first quarter, down 5.8% year-on-year; its market share was 13.7%, down 1.0 percentage points from the same period last year. .

• Sharp's shipments in the first quarter were approximately 4.4 million pieces, a year-on-year increase of 59.6% and 24.7%, ranking first in the industry in terms of year-on-year growth, and its market share The rate reached 7.9%, an increase of 2.9 percentage points year-on-year.

• Taiwanese manufacturer AUO shipped approximately 3.8 million pieces, a year-on-year increase of 28.5% and 4.1% respectively, with a market share of 6.7%.

• Mainland manufacturer CHOT (Rainbow Optoelectronics) has only one G8.6 production line, and its shipments were approximately 3.4 million pieces, a year-on-year decrease of 14.8%.

• The Korean manufacturer LGD’s Guangzhou factory halved its production capacity at the beginning of last year. The current production volume has recovered significantly. In the first quarter, it shipped approximately 3.1 million pieces, a significant increase year-on-year. 34.6% and 22.8%.

The number one shipment in the first quarter of this year was 32-inch products, with shipments of approximately 12.9 million pieces. It fell 11.2% year-on-year, with a market share of 22.8%, down 3.2 percentage points from the same period last year.

42/43-inch shipments ranked second in the first quarter, with shipments of approximately 11.5 million pieces, a year-on-year decrease of 1.9%; market share was 20.4%, a slight decrease of 0.7 percentage points year-on-year. The supply of this size is relatively single, mostly produced by the three major panel manufacturers in mainland China, with BOE relatively controlling the panel.

55-inch shipments increased significantly by 27.2% year-on-year to approximately 9.4 million pieces, ranking third and second in growth. The market share increased by 3.4 percentage points year-on-year to 16.6%, accounting for the largest increase among all sizes. .

65-inch shipments increased by 16.1% year-on-year to approximately 6.7 million pieces, with a market share of 11.9%, ranking fourth, an increase of 1.5 percentage points from the same period last year.

75-inch shipments were approximately 3.3 million pieces, a significant year-on-year increase of 26.5%; 75-inch and above shipments were approximately 1.6 million pieces, a year-on-year increase of 47.3%, ranking first in growth.

This site previously reported that in the Chinese TV market, the brand’s complete machine shipments in the first quarter of 2024 reached 8.44 million units, a year-on-year increase from 2023 It fell 0.9% over the same period. News of the old-for-new action plan came out before, but the central government determined in April that it would not subsidize home appliances and encouraged qualified local governments to implement the action. It is expected that the action will have limited stimulus for color TVs. RUNTO predicts that China’s TV market retail sales are expected to drop by 4% to 6% during the mid-year 618 promotion.

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