Panasonic due to exit plasma market by March 2014

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Further to reports by IER in March and April regarding Panasonic’s planned exit from the plasma TV market, media sources have indicated that a full withdrawal from this market is scheduled for March 2014, although there is no official word from Panasonic at this stage.

Nikkei Business Daily and Reuters have also said in their reports that following this withdrawal, Panasonic’s intention will be to close and put up for sale the plasma panel production factory in Amagasaki, Japan.

In its last financial year, Panasonic’s plasma screen division made a loss of 754bn yen (£4.85bn), following a 772bn yen loss the previous year.

It is widely believed that the rise of OLED and 4K has hastened the financial decline of plasma, leading to this reported course of action to be taken by Panasonic.

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