TOKYO Feb 7 Struggling Japanese electronics
maker Pioneer Corp (6773.T) said it was weighing various
options regarding its loss-making flat TV business including
all-out withdrawal and termination of in-house TV production.
Pioneer is projecting a net loss of 78 billion yen ($848.6
million) for the year ending March 31, its fifth consecutive
year of annual loss, and stopping the flow of red ink in its TV
operations is high on the company's list of priorities.
"There is a whole spectrum of possibilities with withdrawal
on one end, in-house development and production on the other
and sales of procured TVs somewhere in the middle," a Pioneer
The comment follows a report in the Nikkei business daily
on Saturday that Pioneer had decided to terminate its in-house
development and production of flat TVs.
It held a 5.9 percent share in the plasma TV market in the
first three quarters of 2008, a long way behind Panasonic
Corp's (6752.T) 37.2 percent, Samsung Electronics Co Ltd's
(005930.KS) 22.8 percent and LG Electronics Inc's (066570.KS)
15.5 percent, according to research firm DisplaySearch.
Pioneer currently sells LCD TVs only in Europe using
display panels from Sharp Corp (6753.T), the world's
third-largest LCD TV maker holding a 14.3 percent stake in
The Nikkei also said Pioneer, which has a group workforce
of about 40,000, planned to cut several thousand jobs by the
year ending March 2010.
The Pioneer spokesman said no decision had been taken on
The company is scheduled to announce earnings results for
the October-December quarter on Feb. 12 and plans to unveil
restructuring measures by the end of the month.
(Reporting by Kiyoshi Takenaka; Editing by Ben Tan)