Orbotech Won $40 Million Order from Major LCD Panel Maker in China
18 January, 2013
The deal may signal a change in the industry of flat panels, following the tough year of 2012 that suffered low level of capital spending in the FPD industry
“The order is a response to anticipated increased demand”
Orbotech announced that it has won significant bids for flat panel display (FPD) related equipment, totaling approximately $40 million from one of the largest LCD panel manufacturers in China. Most of the order will be delivered during 2013.
The order include several Orbotech’s latest generation automated optical inspection and array tester models. It will be utilized in the fabrication of mobile devices and large screen televisions. President of the FPD Division at Orbotech Ltd., Gil Oron, said that these important bids “represent a significant investment by a major customer in the latest generation Orbotech equipment for its new and upgraded fabrication lines, in response to anticipated increased demand in this part of the industry”.
The deal may signal a change in the industry of flat panels, following the tough year of 2012 that suffered low level of capital spending in the flat panel display industry. Even Orbotech anticipated a few months ago that the slowdown will continue into the first half of 2013.
While being well on its way to maturity in the developed world, the liquid crystal display television (LCD TV) industry in China continues to grow rapidly as production expands by tens of millions of units each year, fueled by competition among manufacturers, according to an IHS iSuppli China Research report.
The Top 6 Chinese manufacturers of LCD TVs in 2011 were TCL Corp., with 17% market share and also the world’s sixth-largest manufacturer of TVs in 2010; Hisense, with 14% share and also a state-owned enterprise; Skyworth, with 12% share; Sichuan Changhong Electric Co., with 9% share; Konka Group Ltd., with 8% share and also a manufacturer of digital mobile phones; and Haier, with % share and also a major global white-goods manufacturer.
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