How have panel prices changed?

  • The average price of LCD TV panels tracked by Omdia was flat month over month in October 2026, after falling 2.2% in September. Historically, prices have fallen by an average of 1.0% month over month from September to October.
  • Prices remain below last year’s levels: they fell 4.8% year over year in October, although the decline narrowed from 6.8% in September. Omdia expects prices to remain flat month over month in November, compared with a historical average decline of 0.9% from October to November.

Why have prices stopped falling, and could they rise?

  • Panel makers want to raise prices to offset rising component costs, while TV makers want lower prices to offset higher memory costs and sustain demand. Negotiations have reached an impasse, keeping prices stable.
  • Omdia believes prices could rise in December, supported by continued price increase efforts by panel makers and TV makers’ accelerating shift toward larger products.

Why might the impact on total area be limited as TV makers cut purchases?

  • Chinese first-tier TV makers have reportedly cut fourth-quarter panel purchases by more than 8%–10%, mainly focusing on smaller panels with very thin margins. JPMorgan believes the impact on total LCD panel area may be limited because the cuts are concentrated in smaller sizes.
  • The industry is shifting toward larger panels against a backdrop of deteriorating end demand for IT products and smartphones, higher-than-expected cost increases for non-panel components, and relatively high inventories of small displays in the fourth quarter. Meanwhile, TV makers expect panel demand to weaken in the fourth quarter, and panel makers have not indicated plans to lower utilization rates on TV panel production lines.

How do these changes affect Corning?

  • Corning makes glass used in LCD panels, and its display business accounts for a relatively large share of the company’s profit, making the trend toward larger panels relevant to its business. Corning estimates that LCDs account for 97% of global viewing area, with TV screens accounting for more than 70% of that area.
  • JPMorgan views stable panel prices and the shift in size mix as positive signals for Corning’s display business in the fourth quarter of 2026, consistent with management’s comments; smartphone demand remains weak, however. Continued increases in component costs have also made TV makers more cautious than in previous years about their plans for 2027, and the bank believes the outlook for next year remains uncertain.