LCD panel growth defies 1st quarter seasonal downturn, DisplaySearch reports

Market researcher and consultant DisplaySearch has released its Quarterly Large-Area TFT LCD Shipment Report for the first quarter of 2005. For an overview of the report, view the table below.

LCD suppliers defied traditional seasonal weakness in Q1 with shipments rising 7 percent faster than expected, enjoying an 11 percent quarter-over-quarter (Q/Q) and 34 percent year-over-year (Y/Y) growth to a record 42.9M units. Fueling the growth was demand in LCD monitors and LCD TVs that grew significantly faster than expected.

LCD TV panel shipments grew faster than expected at 13 percent Q/Q and 84 percent Y/Y to 4.3M units. The average TV diagonal size rose by more than 1.25in to 23.5in. The 20in and larger share jumped from 68 percent to 75 percent, and 32in is expected to overtake 20in as the No. 1 size in Q2'05. LCD TV end-user prices dropped dramatically: 30in LCD TVs were being sold at less than $1000 by second-tier brands. In addition, sub-$600 20in LCD TVs are readily available, sold by top tier brands.

LCD monitor panel shipments had stronger-than-expected growth at 21 percent Q/Q and 38 percent Y/Y to 24.2M units. 19in LCD monitor panel shipment volumes exceeded 15in LCD monitor panel shipments for the first time as its share rose from 17 percent to 21 percent, while 15in fell from 23 percent to 16 percent. The 17in SXGA share increased from 55 percent to 59 percent.

TFT LCD SupplierMarket ShareQ1'05 GrowthQ4'04Q1'05Q/QY/Y LG.Philips LCD 23% 24.3% 22.9% 73.7% Samsung 22.5% 21.1% 8.8% 33.7% AUO 14.9% 14.4% 12.3% 61.6% CMO 11% 12.6% 32.7% 112.7% CPT 6.6% 5.8% 2.7% 9.6% Others 22% 21.8% 3.2% 29.1% Total 100% 100% 16.3% 48.8%

DisplaySearch also reported that rear projection TV shipments rose 19 percent Y/Y while falling 29 percent Q/Q in seasonally weak Q1'05 to 1.3M units. As indicated in its report, RPTV revenues were up 11 percent Y/Y while falling 31 percent Q/Q to $2.3B. Microdisplay (MD) RPTV shipments, which include DLP, LCOS and LCD, drove growth, rising 71 percent Y/Y while falling 24 percent Q/Q to 475K units and achieving a 36 percent share of the global RPTV market, up from 34 percent. CRT RPTV units were down 31 percent Q/Q while rising 2 percent Y/Y to 839K units. Q1'05 may be the last quarter of positive Y/Y growth for CRT RPTVs as TV brands aggressively transition to MD RPTVs in North America, which accounted for 63 percent of the total worldwide RPTV market and 86 percent of the MD RPTV market on a unit basis.

By brand for all RPTVs, Sony continued to lead, with its share rising from 23 percent to 25 percent. Samsung remained No. 2 followed by TTE, Toshiba and Hitachi. Sony was No. 1 in North America while Samsung led in Europe and ROW and Changhong led in China.

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