Panasonic To Exit Plasma TV Market In March 2014
By Tyler Lee on 10/09/2013 Filed in
Earlier this year there were rumors that Panasonic would be pulling out from the plasma TV business and this was semi-confirmed when the Japanese company announced that the ZT60 would be their last plasma TV effort. Well it looks like it has been confirmed as Panasonic has since revealed that come March 2014, the Japanese company will be exiting the plasma TV market which is when the current fiscal year comes to an end. While it had been rumored to be happening, it seems that March 2014 is a little earlier than analysts had expected.
Pulling out of the plasma TV market is definitely the right call as it seems that interest in such televisions have been declining over the years. The demand has seen a drop of 21% in 2012, versus a 1% drop for LCD TVs, indicating that consumers are more interested in LCD compared to plasma. Not to mention Panasonic is currently bleeding billions of dollars, with the company announcing job cuts back in 2012 where it would see about 10,000 staff laid off. Hopefully this exit will allow Panasonic to focus on more current trends, but what do you guys think? Are you sad to see plasma TVs go?: