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Panasonic To Exit Plasma TV Market, Will Reduce LCD TV Production

The ailing Japanese electronics maker Panasonic has reportedly decided to exit from the plasma TV business. The company may shut down plasma TV production at its main plant in Amagaskai in next fiscal year 2014. The Nikkei newspaper reported the development on Monday.


Panasonic TV

The exit from plasma TV production is part of Panasonic’s 3-year long plan to downsize its TV business. The company will reduce production of plasma panels gradually until ending it permanently on 2014. Panasonic will also reduce LCD production as part of the downsizing effort.

However, Panasonic hasn’t decided what to do next with its TV business. “We are considering a number of options regarding our TV business. But nothing has been decided yet,” a Panasonic spokesperson said.

A possible development would be delving into the OLED space. Panasonic and Sony are already in partnership to develop the company. We should also keep in mind that demand for flat-screens are falling in Panasonic’s home market.

Thanks to: Reuters

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