Chi Mei Optoelectronics (CMO) Posts 6.1% Q/Q Decrease in Large-Area TFT LCD Panel Shipments

The title says it all. Although September unit shipments for Chi Mei Optoelectronics (CMO) of large-area (10″ and larger) TFT LCD panels were up 12.4% M/M and 30.9% Y/Y to 6.708 million, the Q3’08 results were weak. Q3’08 shipments results were down 6.1% Q/Q but up 24% Y/Y to 17.5 million.

L/A TFT LCD Panel Shipments
September: Up 12.4% M/M, up 30.9% Y/Y, 6.708 million
Q3’08: Down 6.1% Q/Q, up 24% Y/Y, 17.512 million

L/A TFT LCD Panel Revenues
September: Up 6% M/M, down 8.3% Y/Y, NT$30.224 billion
Q3’08: Down 14.1% Q/Q, down 7% Y/Y, NT$81.988 billion

As you can see, September results show a tremendous amount of erosion in average selling prices (ASPs). Although shipment numbers were up 12.4% M/M, associated revenues were up just 6% M/M. I see the same situation on a quarterly basis where shipments were down 6.1% Q/Q but revenues tanked 14.1% Q/Q. This does not bode well for CMO. But it does mean that we could see some incredible deals on products with LCDs such as LCD TVs coming around the corner.

Source: CMO

[tags]Chi Mei Optoelectronics, CMO, Display Manufacturer, LCD Manufacturer[/tags]

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