By Kate Yuan

(JW Insights) Aug 17 -- Chinese TV suppliers have kept ramping up shipments, and the prices of large-size LCD panels for TVs further increased with the ongoing destocking process, up 5% month-on-month in July, keeping the growth trend for six consecutive months, Nikkei Asia reported on 16.

China’s e-commerce giants such as JD.com Group launched a large-scale promotional campaign in mid-June, and Chinese TV vendors increased their shipments in preparation for that.

The prices of large-scale transactions are determined monthly between Asian panel manufacturers as sellers and TV manufacturers worldwide as buyers. It is expected that panel prices will rise further in the future.

The global TV shipments reached 46.63 million units in the second quarter of 2023, up 7.5% month-on-month. Although panel manufacturers have been adjusting their inventories to gradually raise prices, the demand from end users is not particularly strong, according to market intelligence provider TrendForce.

As the demand declines, the entire supply chain is still under pressure, and the LCD panel manufacturers' capacity utilization rate is expected to slip to 70% in the third quarter, said TrendForce.