Introductory

With the rapid advancement of technology and the diversification of consumer demand, the global TV panel market is experiencing an unprecedented wave of change. This article aims to provide an in-depth analysis of the current demand situation in the global TV panel market and discuss in detail the shipments of major panel makers in the industry, such as BOE (BOE), CSOT (TCL Huaxing), HKC (Wyeco), and CHOT (Rainbow).

Overview of global TV panel market demand In recent years, global TV market demand has fluctuated due to economic fluctuations, technological iterations, and multiple influences of consumer preferences. Especially in 2023, the global market will face multiple challenges such as high inflation, geopolitical conflicts and monetary policy adjustments, resulting in continued weak demand for television terminals. However, in this context, the major panel manufacturers have successfully achieved a stable increase in panel prices through refined production capacity control and product structure optimization and adjustment, demonstrating the strong resilience of the market.

Major panel factory shipments BOE (JD) as the global leader in semiconductor display technology, BOE shipments have been widely concerned by the industry. In the 2023, Boe shipped 56.7 million TV panels, down 11.5 percent from last year, but bucked the trend in terms of area shipped, rising 4.7 percent year-on year to 43.8 million square meters. Boe is particularly prominent in the large-and super-large-panel space, where shipments of 55-inch, 65-inch, 75-inch and 80 + super-large panels have all achieved significant year-on-year growth, shows its strong competitiveness in the high-end market.

CSOT（TCL华星）

TCL Huaxing, the panel manufacturing arm of TCL Group, posted a solid performance in TV panel shipments in 2023. The annual shipment volume reached 47.3 million pieces, a slight increase of 1.1% year-on-year, while the shipment area achieved a 16.6% year-on-year increase to 38.4 million square meters. Particularly noteworthy is TCL Huaxing's outstanding performance in 50-inch and 55-inch panels, which ranked among the top in the industry in terms of shipment volume for the whole year, as well as its notable performance in the 75-inch panel market.

HKC（惠科）

Wyeco's TV panel shipments in 2023 amounted to 38.5 million units, a 14.5% year-on-year decline. However, it achieved a 10.4% year-on-year increase in shipment area to 23.8 million square meters. Wyeco performed aggressively in promoting large-size, with the share of 55-inch and above products increasing significantly. In particular, shipments of 85-inch and 100-inch panels led the industry.

CHOT（彩虹）

Rainbow's TV panel shipments in 2023 will be 15.5 million pieces, down 8.8% year-on-year. In terms of shipping area, only a slight increase of 0.5% was achieved, reaching 11.2 million square meters. Although overall shipments have declined, Rainbow has still made achievements in promoting large-scale production. Among them, the shipments of 32-inch panels fell sharply year-on-year, while the annual shipments of 85-inch panels were close to 200K, reflecting its focus and advantages in specific market segments.

Conclusion and outlook

Although the global TV panel market will face many disadvantages in 2023, major panel manufacturers have successfully stabilized the market pattern with their keen market insight and flexible business strategies. With the continuous progress of technology and consumers' increasing pursuit of high-quality visual experience, it is expected that the global TV panel market will gradually resume its growth trend in 2024, especially in the field of large-size and oversized panels. Panel manufacturers need to keep up with market trends, flexibly adjust production plans, increase investment in research and development, and promote technological innovation to seize a new round of growth opportunities.