Not too long ago Samsung announced that it is quitting the plasma TV business. The Korean giant’s announcement came shortly after Panasonic announced its exit from this market. Samsung exited because it believes the plasma panel production business is no longer financially viable. While LG continues to believe that there’s ample space in the market for plasma TV technology the company will also be throwing in the towel later this year as far as plasma TV production is concerned.
The company told of its plans to exit the plasma TV production business to Pocketlint. Previously it had hinted at suspension of production so as to focus more on the production of OLED panels for TVs but at the time LG Electronics President Ha Hyun-hwoi didn’t say much about the company’s plans.
Hugo Shin, who is responsible for communication related to LG’s TV business, told the scribe that while an actual timeline has not been decided for cessation of PDP production it will definitely end in the coming months, “we feel that this year is the end for PDP,” he said.
Despite believing that the market exists LG is leaving this business because component manufacturers are longer as invested in this technology which is why LG will now be doubling down on LED and OLED production.