Major consumer electronics (CE) maker Panasonic has announced plans to release its first Blu-ray disc player long with new audio receiver and home theater speaker system in September. While the company is behind Samsung and Sony with the Blu-ray player debut, it will still remain among the first companies to offer the new tech in the U.S.

“The debut of our first Blu-ray Disc High Definition Home Theater solution, combined with Panasonic’s Plasma TVs, allows us to offer consumers the most advanced and complete integrated home theater solution available,” said Reid Sullivan, Vice President of Panasonic Consumer Electronics Company's Entertainment Group.

Panasonic Blu-ray disc (BD) player (DMP-BD10) will be able to playback CDs, DVDs and Blu-ray discs, supporting, when necessary, up-conversion to 1080p resolution. In order to take advantage of the player, users will have to own a TV-set with HDMI input as well as appropriate HDMI-supporting speaker system. Panasonic did not unveil many details about the Blu-ray disc player.

Panasonic DMP-BD10 will cost $1299.95 in the U.S., which is about $300 more expensive compared to players from Samsung and Sony, but still $200 more affordable compared to the Blu-ray disc player from Pioneer.

The Osaka, Japan-based maker of consumer electronics will sell the DMP-BD10 separately, however, in conjunction to it, it would also make available matching receiver (SA-XR700) for $999 and speaker system (SB-TP1000) for $2999.95. Additionally, the firm said it would release a new 65” plasma display (TH-65PX600) with 1080p resolution in fall 2006. Panasonic is the first CE producer, which is to offer Blu-ray disc player along with the other products necessary for watching movies on BDs.