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Workers in the division will be reassigned

In previous years, plasma technology was very popular with consumers that demanded large-screen televisions. However, as LCD technology became cheaper and image quality improved, the demand for plasma TVs has dwindled dramatically.

A rumor surfaced in March of this year that Panasonic would be exiting the plasma television market. That exit has now been confirmed according to sources that claim to be familiar with the company’s plans. The sources claim that Panasonic will leave the plasma television panel market by the end of March 2014.

Panasonic has continued to eliminate areas of its business that have performed poorly (as witnessed by its recent exit from the consumer smartphone market). Plasma televisions accounted for less than 6% of global shipments in 2012 compared to 87% for LCD TVs.

Sony, Panasonic, and Sharp combined for less than 20% of the worldwide flat-panel TV market by revenue. Samsung has 27.7% of the overall market while LG has 15%.

Reuters’ sources also tipped that the several hundred workers that are currently employed at Panasonic in the plasma television operation will be moved to other divisions within the company. 

Source: Reuters

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Sad day for true videophiles...
By degobah77 on 10/9/2013 11:44:36 AM , Rating: 5 no TV on the market, excluding the ridiculously priced Sharp ELITEs and $10,000 OLEDs, can even come close to the PQ of a high end Panasonic or Samsung plasma. Glad I got one of the last ones.

And the power consumption farce should never have been an issue, looking at the Sharp ELITE, cost per month to run according to CNET is $5.33, whereas a VT60 is a whole 2 bucks more...OH, the SAVINGS!!!! BOOK THE CRUISE!

By SublimeSimplicity on 10/9/2013 12:03:44 PM , Rating: 2
In fact, if you bought the $2.2k VT60 instead of the $6k Elite you could book a cruise and pay for the electricity difference for the next century with the price difference.

By TakinYourPoints on 10/9/2013 3:44:41 PM , Rating: 2
The Sharp Elites are such a joke. The Pioneer Kuro Elites were justified in their price back in the day, nothing could touch it. The Sharp, not so much, it is beaten by plasmas that are a sixth of the price.

"If a man really wants to make a million dollars, the best way would be to start his own religion." -- Scientology founder L. Ron. Hubbard
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