Panasonic considers exiting from plasma TVs: Nikkei

TOKYO Sun Mar 17, 2013 8:02pm EDT

Signs hang above the Panasonic booth on the second day of the Consumer Electronics Show (CES) in Las Vegas January 9, 2013. REUTERS/Rick Wilking

Signs hang above the Panasonic booth on the second day of the Consumer Electronics Show (CES) in Las Vegas January 9, 2013.

Credit: Reuters/Rick Wilking

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TOKYO (Reuters) - Japan's Panasonic Corp is leaning towards withdrawing from plasma television operations as part of a downsizing of its television business over three years starting next fiscal year, the Nikkei newspaper said on Monday.

The troubled consumer electronics maker has already been selling assets, including real estate, to strengthen its financial position.

Panasonic's TV business, which generated sales of more than 1 trillion yen ($10.5 billion) during the peak in 2009/2010, is seen earning less than half of that amount in 2015/2016, the newspaper said without citing any sources.

"We are considering a number of options regarding our TV business. But nothing has been decided yet," a Panasonic spokesperson said.

Panasonic planned to end plasma TV panel production at its main plant in Amagaskai in western Japan around fiscal year 2014, the Nikkei said, adding that the company had already written off the value of production equipment there.

The Japanese firm has already halted new development of plasma TVs, and decided that handling both plasma and LCD models would be inefficient, especially in Japan, where the flat-TV market is shrinking, the newspaper said.

(Reporting by Dominic Lau and Tim Kelly; Editing by Stephen Coates)

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Comments (2)
OscarGoldman wrote:
Pathetic “story.” Why is the TV market shrinking in Japan? Are consumers buying LCD instead of plasma?

Lame.

Mar 17, 2013 8:35pm EDT  --  Report as abuse
Tiamat333 wrote:
@ OscarGoldman, I agree and LCD TVs are lame performers compared to plasma. Anybody into home theater knows they put the LCDs in “torch mode” to make them look better under the overly-bright store lighting to push them harder because they cost more. If you see a plasma TV in a dimly lit room you realize how superior the picture is right away, especially with fast moving sources like videogames, sports and action movies. I’m glad I just picked up a Panasonic 55″ for $850 on sale. I’ll be pampering it now.

Mar 17, 2013 9:54pm EDT  --  Report as abuse
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