Display Monthly: Panel Pricing Holds Flat Again in June; However, Correction Expected in July as 2H Demand Risk Continues to Build

Research evidence excerpt

Display Monthly: Panel Pricing Holds Flat Again in June; However, Correction Expected in July as 2H Demand Risk Continues to Build

J P M O R G A N North America Equity Research

25 June 2026

Corning

Display Monthly: Panel Pricing Holds Flat Again in Neutral

June; However, Correction Expected in July as 2H GLW, GLW US

Demand Risk Continues to Build Price (24 Jun 26):$205.83

IT Hardware/ Telecom & Networking

Panel pricing was sequentially flat across all categories again in June, which Equipment

remains better-than-seasonal, but a long-anticipated pricing correction is expected Joseph Cardoso AC

to begin in July, possibly suggesting a weaker demand environment in 2H. TV (1-212) 622-9036

makers were highlighted to have shifted from resisting increases to actively joseph.cardoso@jpmchase.com

obtaining concessions, requesting outright price cuts or market development funds Marc Vitenzon

(MDFs) to offset worsening losses in the TV set business amid memory cost (1-212) 622-3342

marc.vitenzon@jpmchase.com

inflation, weak consumer demand, retailer promotions, and geopolitical

Manmohanpreet Singh

uncertainty. Notably, some Chinese and South Korean TV makers recently cut their

(1-212) 622-4527

2Q26 panel purchasing plans, pressuring panel makers to lower fab utilization in manmohanpreet.singh@jpmchase.com

June and July to control supply and defend pricing leverage. Net-net, the depth of Akanksh Chauhan

a 2H26 downturn will be worth monitoring as it hinges on disciplined panel supply, (1-212) 622-0045

promotional sell-through, and whether TV makers can refresh ASPs upward in akanksh.chauhan@jpmorgan.com

2H26 without further eroding demand. J.P. Morgan Securities LLC

Average LCD TV panel prices for the month of June, tracked by Omdia, were