Driver IC Food Chain: Pricing firms up, but DDIC demand stays tepid into 2H26

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Driver IC Food Chain: Pricing firms up, but DDIC demand stays tepid into 2H26

J P M O R G A N Asia Pacific Equity Research

13 July 2026

Driver IC Food Chain

Pricing firms up, but DDIC demand stays tepid into

2H26

Overall DDIC demand will likely remain soft into 2H26, in our view, given the Technology and Telecoms

ACabsence of the pull-in orders seen in 1H26, when customers front-loaded ahead of Gokul Hariharan

further memory price hikes. We do not see a near-term catalyst to support a DDIC (852) 2800-8564

demand recovery over the next few quarters, especially amid currently tepid gokul.hariharan@jpmorgan.com

consumer electronics demand and the lack of benefit from the AI side. Despite soft J.P.MorganMorganBrokingSecurities(Hong (AsiaKong)Pacific)LimitedLimited/ J.P.

end demand, pricing across the DDIC value chain is firming, as DDIC fabless

Jennifer Hsieh

vendors raise prices across LDDIC, TDDI, Auto, and potentially OLED DDIC to (886-2) 2725-9868

pass through rising foundry (VIS, Nexchip, UMC) and OSAT (Chipbond, jennifer.hsieh@jpmorgan.com

ChipMOS) costs—with foundries and OSATs having already implemented price J.P. Morgan Securities (Taiwan) Limited

hikes into 2Q/3Q26. This ASP improvement should cushion some of the shipment David Chou

downtick for DDIC fabless vendors and support GM expansion for both DDIC (886-2) 2725-9618

OSATs and DDIC fabless players (we expect Novatek's FY26 GM at 39.5%, up david.chou@jpmorgan.com

~2ppts YoY, helped by price hikes and a rising SoC mix). Separately, DDIC OSATs J.P. Morgan Securities (Taiwan) Limited

are pursuing opportunities in silicon photonics (SiPh), with gold-bumping being Jason Chen

(886-2) 2725-9864

a preferred interconnection choice when optical networking migrates from 100G jason.bh.chen@jpmorgan.com