LG will leave the plasma TV market at the end of November, the company said on Tuesday.
“We like to keep [a diviso] for as long as possible, ”said spokesman Ken Hong Reuters. “No matter how hard we try to keep it, [plasma] it’s no longer a business. ”
The technology lost space in the market as demand for liquid crystal displays increased, which are cheaper and more efficient. In 2013, plasma accounted for only 2.4% of LG’s annual revenue.
Analysts predict that the plasma will lose even more space. If 5.2 million TVs are expected to be sold this year, next year that number may drop to 500,000, according to the NPD.
Panasonic has also given up on plasma. With the departure of LG, only Samsung will remain among the giants.
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