Panasonic Expected to Quit Plasma TV Business Next Year

Panasonic to Stop Making Plasma Panels Next Fiscal Year

by Anton Shilov
10/09/2013 | 11:00 PM

Panasonic Corp., one of the industry’s biggest proponents of plasma TVs, intends to stop making plasma panels by the end of this fiscal year and there will be no new 2014 plasma TV models. The move has been rumoured for several years now, but recent technology breakthroughs as well as economic situation forced the company to pull the plug next year.

 

Nowadays plasma TVs offer no advantages when compared to modern LCD or OLED TV-sets; but at the same time plasma TVs remain very expensive, which makes them generally uncompetitive. Keeping in mind strong yen and advances in LCD, IGZO, OLED and other technologies, plasma TVs from Panasonic are further losing ground. Finally, as Panasonic has adopted a green technology strategy, plasma TVs that consume considerably more energy than LCD TVs no longer fit into the company’s vision for the future.

Keeping all the aspects in mind, Panasonic decided to pull out of the plasma television panel business by the end of the financial year in March 2014, sources familiar with the situation told Reuters news-agency. At present it is unclear whether Panasonic plans to introduce ultra-large LCD TVs to replace 100” and 150” plasma TVs.

Previously Panasonic has announced plans to withdraw from unprofitable businesses. TV unit has been bleeding money at the company for several years in a row now. TV business posted an operating loss of approximately $913 million in the last financial year.

Panasonic did not comment on the news-story.