LCD TV Panel Prices, January 2024 – March 2026

Prices in Q3 2025 were lower sequentially by 4.3% on average, the largest QoQ decline since 2022, while Q4 2025 prices were down by another 3.9% on average.

As we look at pricing in terms of area, it has now been more than two years after the pandemic boom and bust that prices have stayed within a narrow range. In this period of stability, the products fall into three levels:

• The lowest-priced products are 32” and 43”, the most commoditized sizes. 32” panels seem to get a kick when prices increase, but then fall back when prices decline. These two products are efficient 18 cuts per substrate on Gen 8.5 (32”) and Gen 10.5 (43”). During the whole period from July 2023 to our forecast out to February 2026, the price of 43” panels has stayed between $118 and $129 per square meter. The 32” panel hit a new post-pandemic low of $113 per square meter in November but stabilized there in December and we expect it to increase starting in February.
• The mid-tier products are 49”/50”, 55” and 65”, with the largest size usually coming at the highest price. These sizes are also made efficiently on Gen 8.5 (49”/50” 8-up and 55” 6-up) and Gen 10.5 (65” 8-up). These panels have fluctuated between $139 and $167 per square meter and have fallen to the bottom of that range, but will go up in Q1 2026.
• The premium products are 75” and 85”. The 75” panel briefly fell to the mid-tier level in 2023 but appears to have regained a premium of ~$15 over the smaller sizes. The 85” panel has maintained a premium of $15-$20 per square meter over the 75” panel, and we expect that premium to continue. But the 85” price has stabilized at a new post-pandemic low of $168 per square meter.

Monthly Area Prices Per Square Meter for LCD TV Panels, January 2020 – March 2026

Our final chart in this sequence shows our LCD TV panel price index, taking a longer view from 2015 through January 2026.  The price increases in Q1 2025 brought our index up to a peak of 44.8 in March 2025, not quite as high as the peak in 2024 but still 47% higher than the all-time low of September 2022. Q3 2025 prices stabilized at 42.5, but prices declined to 40.4 in December, the lowest point since May 2023. We see the index rising modestly to 41.7 in March 2026.

LCD TV Panel Price Index, January 2015 – March 2026

Following the grey area in the chart, we can see that the period from mid-2023 to today is radically different than the period from 2015 to 2023. We no longer have wild swings in prices. As of December 2025, our price index remained within a relatively tight range of 40.4 to 45.6 for 28 months, and although we see prices rising in Q1, it appears unlikely that they will break the upper end of that range.

Panel prices have been fluctuating around a level that allows the Chinese panel makers, with a cost advantage from government subsidies, to make a small profit, while Taiwanese panel makers come close to breakeven. The profitability of the Chinese panel makers will be tested in the fourth quarter, and will likely hit a cyclical low point, but with prices increasing in Q1 2026, profitability will improve.