What They Say
DSCC has updated its capex and equipment report and said that total LCD and OLED equipment spending remained relatively flat on a move-in basis despite a number of delays and cancellations. These fab schedule changes were mostly offset by higher spending for G8.5-G8.7 FMM VTE systems (vertical deposition). It has also been boosted by spending on creating tandem OLED stacks, with Canon Tokki a significant beneficiary.
- 2022’s forecast has seen OLED upgraded by 2% and LCDs reduced by 8% to leave the total at $11.9 billion, the lowest since 2015
- 2023 is likely to be down to $6.1 billion (-48% YoY) and the lowest since 2013, although the forecast has been revised up after a pull-in from 2024 of equipment for SDC’s A4/L7-2-2, which is targeting IT OLED panels for Apple and others.
- 2024 should see some recovery to get back to $11.7 billion with LCD spending increasing again.
- 2025 should be up again although the forecast was reduced after timing changes.
What We Think
Next year continues to look horrible for equipment makers. (BR)
DSCC’s Latest LCD and OLED Equipment Spending Forecast and Change vs. Last Quarter
