Large-sized panel shipments rise by 6.6% MoM to 37.92 million units in April

by WitsView on May.21 2009

According to WitsView’s latest survey, global large-sized panel shipments (including the 8.9” and above) reached 37.92 million units in Apr09, up by 6.6% MoM. Compared to the same period of last year, an increase was finally witnessed, where they inched up by 3.7%. Since the market rebound, it has led to more aggressive inventory replenishments and extra ordering by downstream clients. But amid the still existing macroeconomic woes, it should be noted a cautious market outlook persists. Beginning from Apr09, the demand visibility in 2Q09 has at least become clearer among the 3 main applications. China’s Labor Day holidays and the launch of new models in major markets helped drive up the TV and NB panel demand. As for monitor panels, it continued to follow the stable demand seen during Mar09. This allowed the panel prices of the 3 main applications to rise, as panel makers tried to narrow their losses.

In the IT panel segment, the 8.9” and above Netbooks and conventional NB panels increased by 14.9% MoM to 12.76 million units. As in Mar09, it was the largest increase among the 3 main applications, thanks to improving demand, as the excess inventory was cleared away. Meanwhile, monitor panels were up by 2.4% MoM to 15.07 million units. Amid the slowing inventory replenishments, the monitor shipment growth was more moderate. Finally, TV panels rose by 3.6% MoM to 10.07 million units, thanks to the robust market demand of China.

Table 1: TFT-LCD Panel Shipment in Apr-09 (K units)

In terms of the aggregated area shipments, they edged up by 4.3% MoM from 5.907 million square meters in Mar09 to 6.163 square meters in Apr09. Monitor panels were up by 1.7% MoM to 1.827 square meters. Meanwhile, spurred by the strong NB unit shipments, area-wise they were up by 10% MoM to 745 K square meters, the biggest growth among the three main applications. Finally, TV panels climbed 4.6% MoM to 3.59 million square meters. On a YoY basis, they were up by 9.3%, which was attributed to the sharp 25.9% annual TV unit shipment growth, thanks largely to China’s strong demand.

Table 2: TFT-LCD Panel Area Shipment in Apr-09 ( K square meter)

TV Panels

In Apr09, TV panels grew by 3.6% MoM and 25.9% YoY to 10.076 million units. Spurred by China’s Labor Day holiday sales promotions and the country’s electronic subsidy program for rural areas, China undoubtedly has become the key market for TV panels in 1H09. Meanwhile, as the Europe and US markets were still notably affected by the macroeconomic woes, the shipment sizes were mostly concentrated in the small-sized segment. Thus, the market share of the 26”W and below saw a 1.4 percentage point increase, centered mainly on the 17”W, 19”W, 22”W and 26”W. Among the other sizes, due to the panel price increase, the mainstream 32” market share fell by 3.4 percentage points to 38.3% over Mar09. Meanwhile, the 37”W also slipped by 0.4 percentage points. Finally, the 40”W and above rose by 2.4 percentage points, as many new models were launched by brand vendors.

NB panels

The aggregated NB panel shipments (which included the 8.9” and above) in Apr09 reached 12.765 million units, up by 14.9% MoM and 13.4% YoY. But if only the 12.1” and NB panels are considered, a 14.5% YoY decline was seen. Although the annual declines may improve in the forthcoming months, it will likely be mainly contributed by the low-priced netbooks, given the still sluggish economy.

Size-wise, the market share of the 10.x and below netbooks continued to see their market share rise by another 4.3 percentage points. Separately, the shipment ratio of the LED and 16:9 NB models continued to increase, which included the 12.1”W, 14.1”W, 13.4”W, 14”W, 15.6”W and 17.3”W. But for the 15.4”W, the excess stock and release of newer models resulted in its shipment ratio falling by 4.7 percentage points.

Monitor panels

In Apr09, monitor panel shipments rose by 2.4% MoM to 15.079 million units. But on a yearly basis, it was equivalent to a 14.2% drop. Due to the slower sell-through at retail channels, brand vendors also reduced their inventory pull-in. Amid the current traditional slow seasonality in the IT market, the more cautious attitude of downstream manufacturers is an aspect worthy to keep an eye on.

Size-wise, a slight shipment ratio increase of the 16:9 monitors occurred, which included the 15”W, 15.6”W, 18.5”W, 20”W, 21.5”W, 23”W and 23.6”W, thus eating into the share of the 19”W, 19”W and 22”W, which respectively fell by 2.4, 0.5 and 0.3 percentage points. In the wake of the 16:9 development trend, the production of the 16:10 products by the G6, which is now mainly tasked in rolling out monitor panels should gradually see their ratio drop.

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Large-sized panel shipments rise by 6.6% MoM to 37.92 million units in April

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