Feeds

Panasonic throws in towel on plasma tellies, preps for BILLION-dollar kick in pants

Strong yen pulling rug from under Japanese tech firm

Top 5 reasons to deploy VMware with Tegile

Panasonic is reportedly planning to pull out of the plasma TV business by the end of the financial year.

The TV market has proved more and more unprofitable for once-dominant Japanese consumer electronics firms and Panasonic was expected to give up on the plasma display industry at some point, though its exit is sooner than anticipated.

Sources familiar with the matter told Reuters that the firm would leave tellies behind by March 2014, when it would take an impairment loss of over 40bn yen ($410.9m) on its last remaining factory. The money will likely come out of the 120bn yen ($1.23bn) fund it set aside at the start of the year to cover restructuring.

Panasonic's plasma tellies have taken hits from all sides. LCD TVs have left plasma models far behind, accounting for 87 per cent of global shipments in 2012, according to DisplaySearch.

At the same time, Japanese firms have seen all their total telly business fall as the strong yen makes them less competitive with rivals like South Korea's Samsung. Sony, Sharp and Panasonic now hold less than 20 per cent of the flatscreen TV market, while Samsung has 27.7 per cent and LG has 15 per cent. ®

Intelligent flash storage arrays

More from The Register

next story
I'll be back (and forward): Hollywood's time travel tribulations
Quick, call the Time Cops to sort out this paradox!
Megaupload overlord Kim Dotcom: The US HAS RADICALISED ME!
Now my lawyers have bailed 'cos I'm 'OFFICIALLY' BROKE
MI6 oversight report on Lee Rigby murder: US web giants offer 'safe haven for TERRORISM'
PM urged to 'prioritise issue' after Facebook hindsight find
BT said to have pulled patent-infringing boxes from DSL network
Take your license demand and stick it in your ASSIA
Right to be forgotten should apply to Google.com too: EU
And hey - no need to tell the website you've de-listed. That'll make it easier ...
Assange™ slumps back on Ecuador's sofa after detention appeal binned
Swedish court rules there's 'great risk' WikiLeaker will dodge prosecution
prev story

Whitepapers

Go beyond APM with real-time IT operations analytics
How IT operations teams can harness the wealth of wire data already flowing through their environment for real-time operational intelligence.
5 critical considerations for enterprise cloud backup
Key considerations when evaluating cloud backup solutions to ensure adequate protection security and availability of enterprise data.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Simplify SSL certificate management across the enterprise
Simple steps to take control of SSL across the enterprise, and recommendations for a management platform for full visibility and single-point of control for these Certificates.