China-based panel maker BOE Technology in 2020 established a business unit for developing and producing miniLED fine-pitch displays and microLED displays, while LED chip maker Sanan Optoelectronics has made plans to raise funds of up to CNY7.9 billion (US$1.23 billion) mostly for developing and producing mini/microLED chips.
Smartphone sales in the China market slipped 5.4% sequentially to 20.81 million units in September 2021, with non-Chinese brands accounting for less than 6% of the sales, indicating iPhone 13 series launched in mid-September had yet to show notable sales momentum in the market.
The largest China-based lithium battery maker Contemporary Amperex Technology (CATL) has reportedly planned to set up a battery factory in the US, but the company will face challenges, according to industry sources.
Honor, a spinoff from Huawei, has been re-establishing its partnerships with US-based vendors including Qualcomm, Microsoft and Intel since early 2020 and has risen to third place in terms of share in China's smartphone market. The company is now also looking to push into overseas markets with collaboration with Google.
In the China market, 2.36 million TVs were sold during the week-long holidays in early October 2021, decreasing 12.2% on year, while the corresponding sales value of CNY9.1 billion (US$1.4 billion) increased 0.6%, according to All View Consulting (AVC).
China's third-quarter economic growth numbers slowed more than expected to 4.9% from the same period last year, falling short of the 5.2% forecasted by a Reuters poll, but the growth has not yet bottomed, said economists.
Local governments' restricting power supply in China has led to decreases in utilization of production capacities at LCD panel supply chain makers' factories mostly in southern and eastern China to about 60%, and consequently, output of panel components and LCD modules has dropped by about 30%, according to AVC Revo.
Latch was founded in 2014 by a group of former Apple employees and began trading on Nasdaq on June 7th, 2021 under LTCH. Through a SPAC listing, it raised $453 million and values over $1.5 billion. The system of Latch is designed to bring all devices and services together to make buildings "smart."
While global demand for TVs has decreased, global demand for TFT-LCD panels used in business-use notebooks and monitors, commercial and automotive displays, customized displays has been strong and is expected to remain until the end of 2021 at least, according to chairman Paul Peng for AU Optronics (AUO).
Many IDMs and pure-play foundries, including second-tier ones, are all poised to expand their fab capacities sparking concerns that the arrival of the additional capacities could result in a glut of processed wafers.
South Korean battery suppliers are expected to be the main suppliers for the US electric vehicle market until at least 2025, indicated industry sources. The US has begun building capacities to produce EV batteries locally, but given the long preceding set-up process, the undersupply of batteries in North America will continue until 2025.
TSMC will see its 12- and 8-inch fab capacities stay tight in 2021 and throughout 2022, and is gearing up for its next stage of growth, said company CEO CC Wei at an earnings earnings conference call held on October 14.
Supply chains are moving to cope with China's power reductions in one way or another, with the prospect the restrictions may become a long-term policy and will inevitably drive up production costs, according to industry sources.