Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

LCD Market Seen Doubling by '07

SEOUL, South Korea -- An explosive demand for LCD screens for televisions is forecast to lead to a near doubling of the world's LCD market to $42 billion by 2007, technology research group IDC said Sunday.

This year, the total LCD, or liquid crystal display, panel market is expected to grow more than 50 percent to about $37 billion from $24 billion in 2003 as televisions as thin as a picture frame prove as popular as flat computer screens.

"The TFT-LCD market will expand to about twice its current size over the forecast period," said Stanley Jeong, IDC's research manager for TFT-LCD research. "Most notably, revenue in the LCD-TV market segment will grow at such a torrid pace that it will exceed the revenue in the notebook panel market by 2005."

The display industry is set to boom as LCD televisions, which now cost thousands of dollars each, come down in price with the introduction of major production capacity, mostly in South Korea and Taiwan, in the next two years.

The upgrade from traditional cathode-ray boxes is expected to be the biggest change in television technology since the switch from black-and-white.

IDC said that 43 percent of the LCD-TV panels would be over 30 inches wide by 2007, up from 4 percent in 2003, due to the introduction of cutting-edge production lines that make wider screen televisions at a lower cost than existing plants.

LG.Philips LCD, the world's largest LCD screen maker, said in March it would invest 25 trillion won ($22 billion) with its parts suppliers over the next 10 years to capitalize on booming demand for flat displays for big-screen televisions.

The huge investment plan tops rival Samsung Electronics, which has pledged to spend 20 trillion won on new production lines over the same period.

Global display makers are pouring cash into new plants that promise to slash production costs by using larger plates of glass, from which displays are cut, at a time when a surge in output by rivals has driven down flat-panel screen prices.

LG.Philips has a 21.1 percent share of the global market for large-sized LCD panels, just ahead of Samsung Electronics with 19.6 percent and Taiwan's AU Optronics with 11.6 percent, according to research firm Display Search.