In the 12/4/17 issue of the Display Supply Chain Monitor, some of the highlights include the following:
First, we bring you OLED smartphone display shipments for Q1’17 – Q3’17 and a forecast for Q4’17 by panel supplier, form factor and customer. Highlights include flexible OLED smartphone shipments overtaking rigid in Q4’17 which shouldn’t be a surprise given the launch of and pent up demand for the iPhone X. Samsung Display's share of OLED panel shipments remained dominant at 98% in 2017, down from 99% in 2016. Outside of Samsung, OLED shipments are expected to rise 88% to 8M units. For the year, OLED smartphone shipments are only expected to rise 12%, but flexible OLEDs will be up 223% with rigid OLEDs down 17%.
Second, we report on what one company is calling QDOG, which we believe stands for quantum dots on glass which combines two technologies which improve the attractiveness of LCD TVs. QDOG combines quantum dots with glass light guides which reduces the costs of implementing quantum dots as the glass replaces the additional barrier film. The glass light guide also significantly reduces the thickness of the LCD TV. The result is an LCD TV that looks increasingly like an OLED, delivering better color performance and a thinner form factor than other LCD TVs. Of course, it doesn’t improve black levels, off-axis contrast or motion blur, but if priced right, could capture a significant share of the LCD TV market. Cost forecasts for different backlight approaches are provided.
The third highlight is that DSCC has put together total display industry equipment spending segmented into 40 distinct categories. In addition to providing more granularity in terms of number of segments, we also provide market share on most of these segments on a quarterly basis, while our competitors don’t provide market share at all. Furthermore, the numbers came in quite a bit higher than other research firms and we believe they are more accurate as well. One of the significant differences was the high module equipment spending at flexible OLED manufacturers due to the numerous lamination and cutting steps as well as additional equipment costs associated with handling and assembling flexible OLED panels. Our equipment spending figures were around 70% of industry capex which panel manufacturers indicated was much more accurate than other estimates, which are closer to 50%. At these higher levels, many companies will have wished they had entered the display equipment market earlier.
Finally, we update our Panel Supplier Stock Index (PSSI), which showed a significant drop in display stocks as tech stocks, and emerging market stocks sold off last week.
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