CINNO Research: Mobile phone panel structure differentiation continued in December, prices were generally under pressure

The Zhitong Finance App learned that on December 18, CINNO Research published an article stating that in December, although the peak sales season at the end of the year is nearing its end, the overall operating rate of the mobile phone panel market remains high, but the trend of internal structural differentiation is becoming more and more prominent. a-Si modules have maintained full production under the stable support of the low-end mobile phone and maintenance market, but competition on the module side is fierce, and prices are under pressure; LTPS production lines benefit from strong demand from non-mobile applications such as vehicles, laptops, and tablets, and the operating rate continues to operate at a high level; flexible AMOLED panel manufacturers face the double pressure of a slight decline in operating rate and lower prices.

a-Si side: a-Si panels remain steady due to demand in the low-end mobile phone and maintenance markets, and the main production line continues to operate at full load. The overall price of a-Si modules is expected to remain stable from now until the end of the year. Entering January 2026, the mobile phone panel market will officially enter the traditional low season, and demand support is weakening. At the same time, several new production lines plan to expand the scale of shipments, and market supply pressure is expected to increase further. Against this background, a-Si Cell prices may be maintained or lowered slightly, while module prices are likely to continue to decline.

LTPS side: Despite weak demand for LTPS in smartphones, it has benefited from strong growth in non-mobile applications such as vehicles, laptops, and tablets. The operating rate of its production line remains high, and the market shows a structural balance. Among them, the price of old projects is strong, and in order to obtain orders for new projects in 2026, panel manufacturers generally make more competitive offers for new projects. As a result, the overall price of LTPS panels remained flat in December, and it is expected that the price of new mass-produced projects will be lowered in 2026.

On the AMOLED side: Rigid AMOLED panels continue to be affected by flexible technology substitution, demand is shrinking, and prices are stabilizing. Samsung Display (SDC) recently competed for next year's orders with a price reduction strategy, further intensifying market competition; although the operating rate of the main flexible AMOLED panel manufacturers is still high, the current production pace has slowed down due to early preparation in the third quarter, causing the overall operating rate to decline slightly. In addition, panel manufacturers generally adopt aggressive price reduction strategies in bidding. Impact on terminal brands at the end of the year The quantitative momentum is weaker than in previous years, further increasing the downward pressure on panel prices. CINNO Research predicts that flexible AMOLED panel prices will continue to decline slightly in December and January 2026.

CINNO Research predicts that A-Si module prices and LTPS panel prices may decline slightly in December 2025 and January 2026; flexible AMOLED panel prices will continue to decline.