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DisplaySearch Reports PDP TVs Rose 87% in Q1'05, China Drove Growth While Panasonic Remained #1 (1/6/2005)

DisplaySearch, the worldwide leader in flat panel display (FPD) market research and consulting, reported that PDP TV shipments continued to enjoy strong growth in Q1'05, rising 87% Y/Y to 904K TVs, which was down 17% Q/Q in seasonally weak Q1. DisplaySearch also reported that shipments of PDP modules -- the panels found within PDP TVs and Public Displays -- rose 4% Q/Q and 79% Y/Y to a record 1.24M units, which should contribute to strong Q2'05 PDP TV growth.

Continued declines in PDP TV module and PDP TV ASPs supported the strong growth. Blended PDP TV module ASPs fell at a double-digit rate for the fourth consecutive quarter, declining 11% Q/Q and 38% Y/Y to $913. Blended PDP TV ASPs dropped 7% Q/Q and 25% Y/Y to $3080. PDP TV revenues were down 22% Q/Q, but up 41% Y/Y to $2.8B, while PDP module revenues were down 8% Q/Q, while rising 11% Y/Y to $1.1B. In Q1'05, 42-43" HD and 50" TVs experienced the largest Q/Q ASP declines at 11% and 12%, respectively, as brands position these products for faster growth.

Record PDP TV results were earned in China, where PDP TV shipments rose 33% Q/Q and 454% Y/Y to 136K units. China's share of the PDP TV market rose from 9% to 15%. While China enjoyed the fastest growth, Europe remained the #1 region for PDP TVs with a 33% share, followed closely by North America at 32%. Japan's PDP TV demand fell 55% to 58K units on seasonal weakness, causing its global share to fall from 12% to 6% while the rest of world (ROW) share rose from 11% to 14%.

Despite weakness in Japan where its share is highest, Panasonic continued to lead the global PDP TV market. Panasonic remained the top selling brand in Japan and North America, rose from #2 to #1 in China, and held double-digit shares in Europe and ROW. LGE, Samsung and Philips held onto the #2 - #4 positions worldwide, and Pioneer overtook Sony for #5. Philips remained #1 in Europe while Samsung overtook LGE for #1 in ROW. DisplaySearch is reporting PDP TV shipments for 28 different brands.

42-43" remained the dominant PDP TV size category worldwide with its share rising from 74% to 79% as demand responds to new price points. The 42" ED share grew from 51% to 56%, while the 42-43" HD share rose from 22% to 23%. The 32-37" share fell from 15% to 10%, and 46"+ maintained an 11% share. HD PDP TVs lost share worldwide, falling from 43% to 40%, due to weakness in Japan where HD penetration reached a record 99%. In North America, the HD PDP TV share rose from 41% to 45%, and it also rose in China from 12% to 14%. However, it declined from 39% to 38% in Europe. By size by brand worldwide, Hitachi led at 32" and 55", Panasonic led at 37" ED and HD, Samsung led at 42" ED, and Pioneer led at 42-43" HD 50" and 60-65".

In the case of PDP modules, the 42-43" share reached a record 82% with only 42" 480p, 42-43" 720p and 46" 720p enjoying Q/Q growth. 42" 480p shipments jumped 19% to a record 62% share, up from 54%. Korean suppliers Samsung SDI and LGE enjoyed over 30% Q/Q unit growth, but all other suppliers experienced double-digit declines. As a result, the Korean supplier share surged from 52% to 66%. The strong growth by the Korean suppliers, whose shipments are dominated by 42" 480p, led to the significant 42" 480p share gains. DisplaySearch expects Korean PDP suppliers' share to fall to 60% in Q2'05 as Japanese suppliers' shipments rebound. In terms of supplier rankings, Samsung SDI, LGE and Matsushita remained the top three with Pioneer overtaking FHP for #4. While Samsung SDI remained #1 in PDP TV modules, Matsushita continued to lead in Public Displays. By size and resolution, FHP continued to lead at 32", 37" HD, 42-43" HD and 55", Matsushita led at 37" ED, Samsung SDI led at 42" ED and Pioneer led at 50" and 60-65".

DisplaySearch's plasma TV and module shipment data, analysis and forecasts can be found in its Quarterly PDP Module and TV Shipment and Forecast Report available from $5995 or in its Quarterly Global TV Shipment and Forecast Report that covers all TV technologies for $8995.

www.displaysearch.com