Panasonic has officially made its way out of the plasma screen market. As of December of this year, the company no longer manufactures these displays, closing three production lines in Japan.
The company issued a statement (PDF) on the decision, explaining that it had to take it by a combination of factors. One of them was the rapid growth in demand for LCD panels, present in most modern televisions.
Another issue was the fierce competition generated in the plasma market from the economic crisis of 2008, when the American bank Lehman Brothers opened the largest bankruptcy case ever seen in the country.
Panasonic’s intentions had been talked about for a long time, but the latest rumors pointed out that the company would maintain the plasma business until the beginning of 2014 (remember).
Plasma TV Panasonic Display