Japanese electronics manufacturer Panasonic is considering exiting the plasma TV market beginning with its next fiscal year.
According to a report from Nikkei, a Japanese newspaper, Panasonic is studying the potential impact downsizing its television business over the next three years. Depending on its decision, the company could exit the plasma television category starting with its next fiscal year.
This decision is being pondered as the company has seen its television sales fall from a high of 1 trillion yen (approx. $10.5 billion USD) in the 2009/2010 window, and it may fall to as little as half of that by 2015/2016. To help stem some of its financial issues, Panasonic has already been selling off assets such as real estate.
A Panasonic spokesperson told the Nikkei, “We are considering a number of options regarding our TV business. But nothing has been decided yet.” Despite the denial, it does seem the writing is on the walls for the plasma line as the company has already ceased development of new sets, and it has also written off the value of production equipment associated with the line at its plant in Amagaskai.