Pioneer Confirms Pulling Out From TV Business

Posted on Feb 12, 09 08:23 AM PDT

This worldwide recession is getting more depressing by the day, with one of the latest victims being Pioneer, who was forced to slash 10,000 jobs worldwide in order to balance the account books after bleeding money due to sinking sales of both car audio equipment and flat-screen TVs, be it LCD or plasma. The Japanese consumer electronics company has already decided to pull out from the money-losing plasma display business, and will withdraw completely from the display business by March next year as their accountants and top management realized that turning around the display business is all but impossible, even if you have the best management team and technology in the world. Ah well, guess now is not really a good time to pick up a Pioneer flat-screen TV, and if you have already done so, we'd make sure the warranty is one that lasts for several years for some peace of mind.

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