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(Yicai Global) June 13 -- BOE Technology Group, TCL China Star Optoelectronics Technology and other big Chinese liquid crystal display manufacturers are reducing output starting from this month to try and stop a freefall in prices caused by a global glut.

Panel makers are cutting production by 16 percent on average from this month, Rong Chaoping, senior researcher at market research firm AVC Revo, told Yicai Global. Television panel makers are expected to ship 3.6 million less panels than last month.

Panel makers will reduce capacity by between 15 and 20 percent this month, said Wu Rongbing, chief analyst at Chinese semiconductor intelligence service Omdia.

TCL China Star intends to continue with its production cuts until September, while Beijing-based BOE and HKC Optoelectronics Technology have not yet decided how long they will reduce output, Rong said. None of the three companies responded when contacted by Yicai Global.

LCD TV display shipments from China’s five largest panel manufacturers accounted for 68.5 percent of the global market in April, a new high, and they were expected to exceed 70 percent this year, according to Omdia.

The global panel industry is expected to slash production by about 20 percent this year, according to Beijing-based Sigmaintell. It is the first time since 2013 that the worldwide sector has implemented such a large-scale and wide-ranging cut in manufacturing. But it should help to slow the fall in prices, Li said.

“Tumbling prices are squeezing profits,” Li said. “The price of a TV panel is now below cost price and that of some data panels is also below the manufacturing cost.”

“Panel makers are facing rising liquidity pressure and bigger losses as prices are now below cost price, so the display industry is likely to undergo another big reshuffle,” Rong said.

Panel prices are likely to stop dropping this month or next as output falls, Wu said. Whether prices will start to pick up soon depends on when demand improves.

SHANGHAI - China"s BOE Technology Group, one of the world"s largest display manufacturers, plans to build a massive new factory in Beijing, as it looks to next-generation technology for new revenue streams.

BOE will invest 29 billion yuan ($4 billion) in the 600,000 sq. meter factory, according to Sunday"s announcement, with an eye toward expanding into markets for new technologies, such as panels for virtual reality (VR) devices, and a new type of high-end panel called mini-LED.

(Yicai Global) July 7 -- BOE Technology Group, a Chinese display panel giant that is trying to expand to high-end segments and clients, is certified to provide flexible organic light-emitting diode panels to Apple’s iPhone 14, according to multiple market insiders.

BOE"s next-generation display products have entered Apple’s iPhone 14 supply chain, a senior analyst said to Yicai Global. The liquid-crystal display behemoth counts Huawei Technologies and Samsung Electronics as some of its clients.

BOE is expected to kick off mass production of OLDE panels for Apple 14 from this month and to start mass shipment in September, this year’s shipment target is at least 5 million pieces of 6.1-inch OLED panels, according to Runto Technology.

But no official announcement is out yet. An insider close to BOE said to Yicai Global that the Beijing-based company and its client has non-disclosure agreement for such matters, so no further information can be provided at this moment.

Apple is expected to purchase more than 90 million OLED panels for the upcoming iPhone 14 this year, according to Runto. South Korean panel makers Samsung Display and LG Display are predicted to remain the largest suppliers.

The anticipated collaboration with BOE means that China’s domestically-produced OLED panels are gradually gaining recognition from first-tier international clients, Wang Yuhong, chief operating officer at Runto, told Yicai Global.

That could mean all the research and development efforts are finally paying off. BOE began supplying OLED products to Huawei as early as 2018 so as its shipments gradually increase, the company may be able to turn the loss-making OLED business profitable this year, an analyst in the electronics sector said to Yicai Global.

BOE could get closer to Apple. The MacBook maker has counted BOE as one of its OLED suppliers since 2020. The Chinese firm has provided the American company with screens for the iPhone 12 and iPhone 13. Last year, BOE shipped over 16 million OLED panels for smartphones to Apple, accounting for about 10 percent of the latter"s total, per Runto.

It is not easy to catch up with the South Korean rivals. China-made OLED panels have plenty of room for improvement in terms of product quality, stability, as well as business collaborations, according to the above-mentioned senior analyst.

Early this year, BOE said that its target for flexible OLED panel shipments in 2022 is more than 100 million units. In 2021, BOE shipped over 60 million flexible OLED panels, up more than 65 percent from a year earlier. Over 90 percent of the products were destined for smartphones.