Record Month in June Chi Mei Optoelectronics (CMO) announced on July 8, 2009 its combined June 2009 TFT-LCD related revenues of NT$ 26.7 billion, an increase of 15.3 percent month-over-month. CMO set a new record for its monthly large-sized LCD panel shipments with about 7.2 million units shipped in June, up 13.1 percent month-over-month. Small/medium LCD panel shipments increased 13.5 percent month-over-month to 12.5 million panels.
Strong Second Quarter In the second quarter of 2009, CMO’s combined TFT-LCD related revenues increased 58.8 percent quarter-over-quarter to NT$ 70.3 billion. Large-size LCD panel shipments also increased, up 44.3 percent quarter-over-quarter, to 13.3 million units, a new record. CMO shipped 35.4 million small and medium-sized panels, a 52.3% increase quarter-over-quarter.
China Factor CMO along with AU Optronics (AUO) have been tapped by the Chinese government to supply LCD panels. And the monthly and quarterly shipment results show the significance of demand coming from China. Will this continue for CMO and AUO? As long as China continues to spend.
How is the outlook for others such as LG Display, Samsung, Sharp and Panasonic? Samsung’s LCD arm will surely continue to do well supporting new LCD TV models from Samsung Electronics, despite my aversion to the company’s marketing tactics regarding the term “LED TV”. Other companies, I am not too sure. LG Display is aligned mostly with LG Electronics, which in my opinion isn’t the hottest brand in the US and generally a bit on the expensive side. Sharp just announced new LED backlit LCD TVs, but it is late to the game and the prices do not seem to reflect the state of the world’s economy. Panasonic’s large plasma investment will come to bite them, hard: plasma TVs tend to consume considerably more power than similar-sized LCD TVs and consumers are very concerned about being green. Plasma TVs are also relatively thick compared to LCD TVs with edge-lit LED backlights.