TV and monitor-sized LCD panel shipments for full-year 2023 are now predicted to decline -3.2% from 2022 following a general slowdown in demand and corresponding utilization management by panel makers, according to a new report from display industry market research firm Omdia.

In issuing the update this week, the research firm revised down its previous forecast of 0.6% growth in large-area TFT LCD displays for the year, as reported in the company’s Large Area Display Market Tracker 1Q23.

Large-area TFT LCD panels are described as those panels used in the assembly of TVs, monitors, notebook PCs, tablets and other personal information visual devices. However, much of the decline outlined in the new market update is focused on notebook PCs and tablets, with TVs generally seeing slight growth in revenue.

Omdia pointed out that some panel makers, like S. Korean giants Samsung and LG, have either withdrawn from large-area TFT LCD panel production or are planning to shut down old fabs as they pursue newer technologies like OLED, QD-OLED and Micro LED displays.

Along with the decrease in unit shipments, the forecast called for a 1.7% year-over-year increase in large-format area compared to the firm’s previous forecast of a 3% increase YoY.

Panel makers expect size migration for TV and monitor displays will help to grow shipment area in 2023, according to the report.

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“In previous forecasts, display makers aimed to increase IT displays shipments while decreasing LCD TVs in 2023. There is still uncertainty around IT LCD demand recovery as the display makers experience huge deficits for IT LCD business. Display makers expected LCD demand to recover once inventory issues were solved but this situation has not fully resolved for some top tier brands. Even though inventory is back on track, PC brands/OEMs are managing inventory levels lower than before,” stated Peter Su, Principal Analyst of Omdia.

Omdia observed that panel makers set aggressive targets for notebook PC LCD shipments in the previous forecast with positive growth of 1.9% YoY in 2023. The latest forecast, however, now indicates a -8.1% YoY decline.

“In fact, notebook PC display demand is slower than other large-area display applications,” Omdia said. “..Owing to global recession, cheaper tablet PCs may take some market share from notebook PC.”

As for large-area TFT LCD panel revenue, Omdia predicts a 0.09% decrease from 2022 to $65.2 billion in 2023. This is attributed to slower demand and IT LCD price recovery.

“Only TV LCD is expected to increase [revenue] by 13.6% YoY along with its price hike from mid 1Q23,” Omdia said.

Among the TFT LCD panel leaders for the year will be BOE, which Omdia sees with the largest share of large-area TFT LCD unit shipments at 33.5% in 2023, followed by Innolux at 13.5% and China Star at 11.5%.

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By Greg Tarr

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