Total production value of Taiwan's flat panel industry amounted to NT$353.62 billion (US$11.71 billion) in the third quarter of 2011, down 1.4% from the previous quarter, according to data released by Taiwan-based Industrial Economics and Knowledge Center (IEK) under the Industrial Technology Research Institute (ITRI).

Production value of flat panels grew only 0.3% to NT$242.41 billion in the third quarter, which included NT$191.28 billion for large-size panels, NT$45.4 billion for small- to medium-size models, NT$3.92 billion for TN/STN devices and NT$1.71 billion for OLED products.

The production value of large-size flat panels will decline to NT$180.99 billion in the fourth quarter, IEK estimated.

Flat panel component makers rolled out NT$111.21 billion worth of products in the third quarter, down 5.1% from the last quarter. Among major components, glass substrates totaled NT$35.4 billion, followed by backlight units (BLU) at NT$30.1 billion, color filters at NT$25.67 billion, and polarized sheets at NT$20.04 billion, IEK said.