Panasonic To Bail Out From Plasma Business?

Panasonic of Japan is not exactly going through the best of times at this point in time, as the TV business, especially on the Japanese side of things, do not seem to favor them, as the South Koreans, namely Samsung and LG, have already usurped them for a fair number of years already. Well, we now have word that Panasonic of Japan could very well consider exiting the plasma TV stage as part of a downsizing of its TV business over the coming three years, beginning from fiscal year 2014 onwards.

Panasonic has already started to sell off their assets, where among them include real estate, in an effort to strengthen its financial position. Back when Panasonic’s TV business was at its peak, it managed to generate sales of over 1 trillion yen ($10.5 billion), and they have projected that they will be earning less than 50% of that amount when 2015/2016 rolls around. A Panasonic spokesperson said, “We are considering a number of options regarding our TV business. But nothing has been decided yet.” Do you think that other TV manufacturers will follow the footsteps of Panasonic where plasma TVs are concerned?

Edwin Kee
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