LCD TV panel shipments enjoyed a record quarter in Q2'07, rising 32% Q/Q and 65% Y/Y to 19.6M panels.  The Q2'07 results exceeded suppliers' expectations and DisplaySearch's forecast by over 700K panels or 4%. Revenues grew 28% Q/Q and 39% Y/Y to a record $7.2B.  ASPs were only down 2% Q/Q and 16% Y/Y to $369. For the first time, twice as many 40"+ LCD TV panels were shipped as 40"+ plasma panels, as shown in Figure 1. The LCD TV share of the 40"+ flat panel market rose from 42% in Q2'06 to 68% in Q2'07. This can be attributed to the amount of optimized Gen 7 and larger LCD fab capacity brought online, to the success of LCD TV brands and retailers in getting consumers excited over 1080p TVs where LCDs have dominated PDPs and to the greater number of LCD TV brands overwhelming plasma TV brands in retail.