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Panasonic allegedly pulling the plug on its plasma TV business

Oct 8 2013, 11:33pm CDT | by , in News | Technology News

Panasonic allegedly pulling the plug on its plasma TV business

In spite of denying being on the rope, Panasonic is no longer rolling with the punches and might throw in the towel anytime soon. According to Nikkei, Panasonic is pulling the plug on its plasma TV line. Panasonic is one of the pioneers of the plasma display panel, previously going toe-to-toe with Fujitsu and Philips.

Reuters is also backing up the report, citing sources who said that the plasma television panel busines will be discontinued by March 2014, when Panasonic ends its financial year. Reuters adds that the move highlights Kazuhiro Tsuga's desperate plan to end years of losses.

As LCD technology grew its popularity, plasma displays saw a huge decline, only accounting less than six percent of overall global TV shipments in year 2012. Panasonic has yet to release a statement.

Source: Reuters

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