Panasonic Corporation is considering withdrawing from plasma television technology as part of a downsizing of its television business over three years starting next fiscal year, the Japanese Nikkei newspaper reported on Monday, 18th March.
Panasonic’s TV business, which generated sales of more than 1 trillion yen ($10.5 billion) during the flat screen TV boom of 2009/2010, is reported to earn 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.