We’ve been hearing murmurs from Panasonic over this past year in regards to their possible exit in the plasma TV market. It looks like Panasonic is making this official as they’re announcing they’re bowing out from making plasma TVs, with manufacturing ending in December 2013.
Panasonic says production of plasma TV panels have already stopped at one of their factories with a second factory currently being stalled. By the end of March 2014, Panasonic plans to have these two factories and a third one ending plasma TV production altogether. As for consumers, Panasonic will cease selling plasma TVs by next March, which just so happens to be at the close of its current fiscal year.
Panasonic has been selling plasma TVs for several years, although the company cites the weakening demand for these displays in a market that is primarily dominated by LCD panels. “Due to rapid, drastic changes in the business environment and a declining demand for PDP in the flat panel display market, it was judged that continuing the business would be difficult and a decision was made to stop production,” the company said in a statement sent out today.
Now that Panasonic has announced they’re leaving the plasma display market, we’re curious if any other consumer electronics companies will follow suit.