Over six major Chinese display makers reported a drop in net profits for the first half of this year. BOE, TCL, and Tianma Microelectronics saw 48.94%, 90.2%, and 30.19% year-on-year decreases, respectively, in the first half of 2022. Liu Yushi, analyst of CINNO Research told TechNode that the fall was due to the ongoing low prices of LCD displays. He added that LCD display prices saw a 20% to 35% drop in the first half of 2022, which are close to the production cost, and said that these display makers are facing more pressure as downstream firms cut orders, he added. Since the third quarter of 2021, large-sized display prices have started to fall, Caixin reported on Tuesday. In response to weakening demand, display makers started a large-scale plan to decrease production in June in order to clear stocks. The average utilization rate of production captivity is set to hit a record ten-year low of 69%, as Omdiam, a UK-based consultancy, estimated. And such reduced production will continue until the end of 2022, a source from BOE told Caixin. [Caixin, in Chinese, TechNode reporting]