May 29, 2012 — Barclays Capital reports on liquid crystal display (LCD) demand and display fab equipment and materials at the company’s BarCap 2012 Global TMT Conference.
LCD TV sell-through trends remain mixed, with relative strength in the US, in-line in China, and weakness in Europe and Japan.
The top glassmakers for displays are seeing a stabilization in the competitive landscape/market share split, with limited progress from LG Chem. At the conference, Corning’s management was hopeful about continued moderate glass average selling price (ASP) declines through Q3 2012.
Capacity investments by the LCD panel makers remain at trough levels, despite relatively strong current utilization rates. Look for some equipment spending recovery in H2 2012, tempered by still very limited visibility. Display makers continue to funnel capex dollars into retrofitting fabs for low-temperature polysilicon (LTPS)/organic light emitting diode (OLED) display production.
Also read: Top 10 LCD manufacturing trends of 2012
Read more from Barclays Capital’s BarCap 2012 TMT conference in 90%+ utilization rates at LED makers in Taiwan: A short-term phenomenon