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LCD sales data -2

IHS is out with new sales data, as LCD continues its long death spiral.  For LPL investors, the important things to note in this report are:
  • With the exception of some Chinese producers that have ramped capacity this year, LG Display's 3% decline in overall LCD revenue continues to be a fraction of those seen at other producers.
  • LGD has actually increased sales for small and medium sized screens, by 5% MoM and 48% YoY, again in contrast to the rest of the industry.
  • The trend in TVs is towards ever larger screens, and this is where the harshest pricing declines have been seen.  LGD has been outcompeting here too, and is uniquely positioned to weather this storm with its premium AMOLED lineup.

We're just starting to see all this competition prune capacity.  I expect that to continue over the coming year, helping the legacy side of the business even as LGD continues to shift to AMOLEDs.