Today's Hard|Forum Post
Today's Hard|Forum Post

Friday October 11, 2013

Panasonic to Exit Plasma TV Panel Business

Panasonic will be leaving the plasma TV market in about six months, according to sources in Panasonic. The move has been predicted, but was not expected to take effect this quickly. Panasonic is cutting the less profitable products to reduce overall corporate losses.

The move is in line with the strategy adopted by company President Tsuga since he took charge in June 2012. Panasonic is trying to engineer a turnaround away from low-margin consumer electronics goods to products catering to automakers and other business clients.