Lee made the statement at an Asia-Pacific economic forum organized by Chinese-language economic daily newspaper Economic Daily News (EDN). He confirmed that the worst for the LCD industry has gone, but the speed of market rebound would depend on demands from Europe and the U.S.

 

Lee also pointed out AUO's capacity utilization has returned to normal, but the panel prices have not.

 

Asia is the locomotive to drive the economic recovery, especially big nations in the region such as mainland China and India. Quoting the latest statistics, Lee said China, India, Indonesia, Vietnam etc. are still enjoying positive economic growths.

 

Thanks to the subsidy program for home appliances in rural areas in China, the chairman said, in the first four months AUO's shipments to China had already reached 80% of that for the whole 2008, while sales to the big market would continue to grow.

 

Lee is also optimistic about the potential of the Indian market, though the overall infrastructure might hold back development.

 

About 20 million to 23 million LCD TVs are expected to be sold in China this year, Lee said, and the subsidy program has been accelerating the replacement speed of cathode-ray tube (CRT) by LCD TVs. Lee said that AUO's TV panels are expected to win a 15% to 20% share in the huge market this year, compared to 5% to 6% last year.