Taiwan's Chi Mei sees Q4 panel prices, shipments down

TAIPEI, Oct 24 (Reuters) - Chi Mei Optoelectronics Corp (3009.TW), Taiwan's second-largest LCD maker, expects fourth-quarter LCD prices and shipments to decline after reporting a third-quarter loss on Friday.

Chi Mei said it expects shipments of LCD panels used in PCs and TVs to drop 10-15 percent and 15 percent, respectively, in the fourth quarter versus third-quarter levels.

In the face of the industry's current glut, Chi Mei added PC panel prices would drop 5-10 percent in the fourth quarter from the third, and that TV panel prices would drop 11-12 percent over that period. (US$1=T$33.3) (Reporting by Baker Li; Editing by Anne Marie Roantree)