The revenues reached $22.9 billion, which was the second-highest quarter on record. According to the latest Quarterly Large Area TFT LCD Shipment and Forecast Report, panel makers are aiming to continue shipment growth in the second half of the year despite the recent drop in panel prices and supply chain inventory adjustments.

"The TFT LCD industry reached new heights in Q2’10, as with shipments reaching new heights and suppliers producing at full capacity thanks to strong purchasing and inventory preparation by downstream customers," noted David Hsieh, Vice President, Greater China Market, DisplaySearch. "Despite this, over-optimism throughout the supply chain in Q2 is causing adjustments in Q3 as panel prices have fallen amid cuts in panel orders and unclear demand forecasts."

All TFT LCD applications experienced Q/Q growth in Q2, with the exception of the public display panels. Growth in LCD monitor panel shipments, which started to slide in June, was the smallest among the three major TFT LCD applications. Shipment of panels for notebook PCs, including mini-notes and slate type PCs, was the strongest, with 15% Q/Q growth. Meanwhile, panels for LCD TVs, including <26" LCD monitor panels used for TVs, reached 55 million units—a new record.