China Star Optoelectronics Technology (CSOT) is expected to reach 25 million in LCD TV panel shipments during 2014 to hold a 10% global market share, driven largely by demand from China TV vendor TCL, according to Digitimes Research.
The company made over US$1.38 billion in revenues during the first half of 2014, up 24% on year, and also improved facilities and panel technologies. In addition, CSOT received increased funding from the China government and secured top engineering and management talent from abroad. These aspects coupled with driving LCD TV demand from parent company TCL has helped CSOT improve its performance and give it a competitive edge in the global panel arena, where it now ranks within the global top-five makers.
By 2015, CSOT will have expanded its production capacity 21.9% on year and later by 70% in 2017 to fulfill growing demand for local panel supply in China in addition to TCL's demand, as the vendor continues to expand into markets outside China.
CSOT will not surpass an 8% global share in Ultra HD TV panel shipments in 2014, which Digitimes Research believes is something the company should strengthen in order to further its presence in the TV panel market.