LCD shipments declined more than 20% last month

The news comes following report that cited better than expected PC sales in the third quarter of 2008. Notebook display sales were down 25 percent on a monthly basis to 8.5 million units in November, DisplaySearch said.

Panel demand in all of three of the major TFT LCD applications, notebooks, monitors and TVs has weakened significantly according to DisplaySearch.

Overall panel makers shipped 28.5 million TFT LCDs, down 21 percent from October sales. Revenues fell to $3.8 billion, 24 percent on a monthly basis.

"The TFT LCD industry is going through the hardest time in a decade as shipments and revenues dramatically decline," said David Hseih, vice president of DisplaySearch in a press statement.