Prices of large-size flat panels are expected to stabilize in November at the earliest as flat panel makers are unwilling to further cut product prices due to mounting losses, according to panel makers.

The deteriorating finances of Taiwan's panel makers has caused them to become reluctant about further cutting large-size panel prices, they said. 32-inch LCD panels for TVs have reached cash cost. Makers said they would rather not take orders than buy materials to produce products while still losing money.

Despite still harsh economic conditions in the fourth quarter, panel makers said there will be no further cuts in large-size panel prices so they can deal with their financial situations. Large-size panel prices are expected to stabilize as early as November and no later than December 2011, they said.

Reporting losses for four consecutive quarters, AU Optronics's (AUO) net debt-to-equity ratio rose to 56.3% in third-quarter 2011 from 44.9% in the second quarter. The ratio was 28% in first-quarter 2011.

Market observers said Chimei Innolux's (CMI) losses in the third-quarter may surpass AUO's quarterly losses of NT$15.8 billion (US$525 million). CMI has not yet announced its third-quarter financial results. CMI's net debt-to-equity ratio rose to 118% in second-quarter 2011, compared with 78% in the same quarter of 2010. The ratio was 105.1% in the first quarter of 2011.