The recent rumor that Pioneer would stop making TVs turned out to be true. Pioneer will exit the TV business by March 2010. To battle the losses Pioneer also announced plans to cut 10,000 employees, which amounts to about 16% of its workforce.
That is the end of the exceptional Pioneer Plasma HDTVs.
I am not sure if Pioneer can turn a corner with focusing on Audio and car entertainment. Only time will tell.
Via Bloomberg and Reuters.