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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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