The LED industry has been stuck in a oversupply situation for the past few years but 2014 will finally see the first light to equilibrium. The supply shortage situation is expected to reemerge in 2014 brought on by rising LED lighting demands, stable backlight demand, and limited production capacity expansion by LED chip manufacturers, according to a recent report from UBS. Long term orders from OEMs for large lighting manufacturers Philips and Osram will benefit non-Chinese LED chip manufacturers.