Panasonic to leave plasma TV market

Panasonic has advanced its plans, leaving the plasma television screens market by the end of March 2014, according to Reuters. It was already known that the company would take such action, but not so soon.

The decision is part of the planning of the president of Panasonic, Kazuhiro Tsuga, who tries to stop the negative numbers of the brand. Getting rid of the division is an important step in this direction, since it comes from most of the company’s loss – which totaled US $ 15 billion in two years.

The television area alone accounted for $ 913 million in losses.

There is only one Panasonic plasma panel factory. Its closure will lead to the relocation of hundreds of employees and force the company to spend 120 billion yen.

Plasma TV Panasonic

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