Panasonic is planning to stop plasma TV operations as part of a downsizing of the troubled CE maker's TV business, Nikkei reports.
According to the newspaper Panasonic will move away from TVs over the next 3 years in order to focus the more profitable auto part and aircraft businesses. Reportedly the company will end plasma production in Amagasaki, Japan by fiscal 2014, and has already stopped development of new plasma TV models.
It also forecasts TV sales of around $5 billion for the 2015-2016 period, down from the $10.5bn peak on 2009-2010. Panasonic hasn't made profits from TVs for the last 5 quarters.
In reply to the reports Panasonic simply says "we are considering a number of options regarding our TV business. But nothing has been decided yet."
Like the rest of the once mighty Japanese CE industry Panasonic has been trying to stave off its financial woes for a while-- 2012 saw it selling off a number of assets, including real estate. It is also co-developing large-size OLED panels and modules with Sony.
Go Panasonic to Retreat from Reduced Plasma Business (Nikkei)
Go Panasonic Considers Existing from Plasma TVs: Nikkei (Reuters)