This year, TV and NB sales, which are two of the three major panel applications in the market, faced recessions during their 618 promotions.
Monitor sales reported positive news, giving more confidence to panel inventory. It is expected that LCD monitor panel prices will continue to rise slightly in July.
The monitor market in 2024 is gradually emerging from its low point, with global shipment volumes expected to rise slightly. The Chinese market also performed well in the first half of the year. During the 618 promotional period in China (May 20 to June 18), according to data from Sigmaintell, online sales in China were about 940,000 units (JD.com and Tmall combined), with an annual growth rate of approximately 4.6%.
The main growth driver came from the improvement in specifications of high-refresh-rate monitors, with over 80% of the online best-selling models being high-refresh-rate monitors, and the mainstream specification being 180Hz.
From the perspective of brand sales, AOC, under TPV Technology, had sales of 168,000 units on the main platforms, with an annual growth rate of 3%. Philips, another TPV brand, had sales of 32,000 units on the main platforms, a year-on-year decrease of 30%.
Supported by its group, HKC has been fully expanding its monitor business in 2024, targeting both offline and online markets. During the 618 period, its sales reached 116,000 units, ranking second in the market, with an annual growth rate of 37%. HKC focused on 27-inch QHD+180Hz products with Fast IPS and Nano IPS technology. The single product sales of G27H2/IG27Q exceeded 10,000 units.
Although Xiaomi ranked third with sales of 81,000 units, the brand faced dual competition pressures. In the low-end and entry-level segments, the office market was impacted by low-priced products. In the mid-to-high-end gaming market, its competitiveness was still insufficient, resulting in a 26% year-on-year decrease in sales.
Asus achieved 77,000 units in China's 618 sales in 2024, with a significant annual growth rate of 40%. This was mainly due to Asus' rapid switching in office and gaming product specifications and improved cost-performance ratio, which resulted in outstanding performance in promotional models on the two major platforms.
KTC's sales reached 56,000 units, with an annual growth rate of 29%. This success was mainly due to enhanced cooperation with major platforms, and its main models H27T22C/H24F8 even became top-five best-selling models.
Supply chain insiders stated that global monitor shipments in 2023 were below pre-pandemic levels. Due to a lower shipment base and a normal replacement cycle of 4-5 years, monitors purchased during the pandemic might be replaced in 2024 and 2025, further boosting global monitor shipments in 2024 compared to 2023.
Given the opportunity to capitalize on the replacement cycle, many monitor brands have set annual shipment growth targets of 10-20% for 2024, including AOC/Philips, MSI, Asus, Acer, and Lenovo.
In terms of panels, due to better monitor sales compared to TVs and NBs during China's 618 period and stable commercial demand, along with rising shipping prices, major brands have expanded their panel procurement to ensure supply chain security.
In addition, due to weak TV demand and high inventory levels, panel manufacturers have begun adjusting utilization rates. However, as LCD monitor panel prices continue to rise, they remain a key focus for panel manufacturers.
Overall, LCD monitor panel prices increased by $0.2-0.3 in June. The price increase is expected to continue in July, although at a slower pace, estimated to be between $0.1-0.2.
Article translated by Heidi Yin-Hsuan Tai
