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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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RE: Too bad
By jeepga on 10/9/2013 12:52:39 PM , Rating: 2
And longevity. The Panasonic plasma TV that I purchased in 2004 is still going strong.

RE: Too bad
By Falacer on 10/9/2013 1:40:27 PM , Rating: 2
Same for us, my wife won a 42" Panasonic Plasma oh about 7 years ago from her work. As much as I would love to upgrade to a 55" tv, which would better suit the viewing distance of our current home, the plasma is still going strong after all these years.

RE: Too bad
By Spuke on 10/9/2013 2:47:34 PM , Rating: 2
I'm still rocking a 55" DLP from 2005 as my main TV. More than likely it will be replaced with a LCD as I'm not waiting for OLED prices to come down. I won't be buying a plasma either as I watch a LOT of TV brightly lit rooms.

RE: Too bad
By Mint on 10/9/2013 9:21:54 PM , Rating: 2
It's crazy how the laws of physics scale down. You'd think that millions of mirrors tilting one way or the other thousands of times a second would be prone to mechanical failure. The reality is that DLP is the most reliable display tech ever.

You should check out the mid-range and high-end Panasonic plasmas before assuming they look bad in bright rooms. My brother got a VT60 (yeah, $2500 is a lot) and it looks fantastic in bright rooms.

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