According to recent reports, the domestic panel industry is receiving strong government support, and new production capacity will not be cut off. This is likely to lead to an oversupply situation, with panel prices possibly entering a correction phase that could last up to two years. As supply increases significantly, panel prices are expected to gradually decline over time.
Wu Chunfa, Chairman of Rui Xuan, stated that the global LCD TV market is anticipated to see modest growth in 2018, with the most significant expansion coming from the mainland. However, the influx of new capacity from local panel manufacturers may cause panel prices to face a prolonged correction period.
[Image: A chart illustrating panel price trends]
Wu further explained that the mass production of new panel capacities—such as the 8.5, 8.6, and 10.5 generation lines—has led to a substantial increase in supply, which naturally drives down prices. However, he noted that the current year’s price drop may not be as steep as the one seen in the second half of the previous year.
He also mentioned that the decline in panel prices will have a direct impact on TV pricing. For this year’s TV market, the trend of larger screen sizes is a positive development. Previously, the majority of TV shipments were under 50 inches, but now more than 50-inch models dominate the market, with 55-inch panels being particularly cost-effective. Additionally, due to government policies encouraging local brands to use domestically produced panels, competition among mainland TV OEMs has become intense.
Looking at Rui Xuan’s performance, Wu highlighted that the company saw continued momentum in the fourth quarter of last year, with 700,000 units shipped in a single season. This was expected to result in a 23% quarterly increase. He expressed confidence that this year’s TV shipments will remain strong, especially with the introduction of new products, making it a promising year for the company.
In the first quarter of last year, Rui Xuan shipped 460,000 TVs, followed by 570,000 in the second and third quarters. The fourth quarter saw a surge to 700,000 units, bringing total quarterly shipments to 2.3 million. Annual shipments reached 3.2 million units, representing a 28% decrease compared to the previous year. However, the company expects this year’s shipments to exceed 3 million units, leading to improved performance compared to last year.
Rui Xuan also made a strategic investment in the North American TV brand Vizio, fully acquiring ordinary shares while retaining 8.8% in preferred shares, which grants dividend rights but no voting power. Originally, the company had planned to sell its 8.8% stake to Levision in mainland China, but the deal was canceled due to a financial crisis.
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