Panasonic to Cut TV Production, Maybe Abandon Plasma

Panasonic to Cut TV Production, Maybe Abandon Plasma

Reuters is reporting that Panasonic is planning to cut its TV production—and perhaps pull of out of the plasma TV market altogether.

The rumors, which originate from Japanese-language newspaper Nikkei, suggest that Panasonic will slow down its TV production over the coming three years. It also suggests that the company might stop making plasma TVs as soon as 2014.

The reports suggest that the struggling company—whose TV division hasn't turned a profit in the past five quarters—just isn't making enough money from consumer TVs. Instead, it will focus its efforts on airplane entertainment systems, automotive parts, and enterprise products.

Suggestions that Panasonic stopped investing in new plasma development some time ago hint that an imminent wind down is indeed on the cards—though an unnamed Panasonic executive also claims production would wind down gradually to preserve customer relations. [Nikkei via Reuters via Verge]