Panasonic reportedly plans to tow plug on plasma TVs next year

Japanese physics big plans to exit the sock market by the tip of its current twelvemonth, sources tell Reuters.

 Panasonic's days within the plasma TV market seem to be numbered.

In a long-rumored move, the Japanese physics big is aiming to exit the market by March 2014 once its current twelve months involves associate degree finish, sources acquainted with things told Reuters. That Panasonic was considering a departure from the market was 1st report by the Japan-based newspaper Nikkei in March, however this reported timetable is earlier than some analysts had expected.

Although Panasonic's plasma TVs are a unified thought-about among the simplest on the market, such a move would possibly facilitate the corporate repair its sick operation that is losing billions of bucks. On Gregorian calendar month, Panasonic proclaimed it'd cut ten, 000 jobs by the tip of March, simply months once it sets off thirty six, 000 workers within the previous twelvemonth. Cutting its tv operation might put it aside some much-needed money and permit it to specialize in alternative industries.

The exit would come back as interest in plasma TVs continues to wane. International shipments of plasma TVs declined 21 % in 2012 compared with a 1 % decline for liquid crystal display. That sharp fall follows years of market share decline for plasma, resembling the increasing dominance of liquid crystal display.