TAICHUNG, Taiwan -- AU Optronics, a leading Taiwanese producer of display panels used in televisions and smartphones, has said the industry will continue to struggle with uncertainties in the second half of this year, partly due to a supply glut created by its main Chinese rival.
AUO's Chairman Paul Peng, right, and President Michael Tsai holds a news conference following the company's annual shareholders' meeting on Thursday. "Oversupply persists and panel prices have been falling drastically since last year," Chief Executive Paul Peng told reporters immediately after the company's annual shareholders' meeting on Thursday. Peng was referring to efforts by BOE Technology, the biggest Chinese panel manufacturer, to become the world No.2 large-sized panel maker after South Korea's Samsung Electronics. The Chinese group's relentlessly increasing production has caused global panel prices to plummet as much as 40% over recent quarters.
