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