Panasonic has denied that it will pull out of the plasma TV panel business by March 2014, as reported by Reuters.
In a statement issued to whathifi.com, Panasonic says:
• The content of the [Reuters] report is not something that was announced by Panasonic.• The company is looking into a variety of options regarding the strategy for the PDP [plasma display] business, but nothing has been decided at this stage. • The company is looking into a variety of options regarding the utilization of the Amagasaki Factory, but nothing has been decided at this stage.
Reuters based its story on "sources familiar with the situation," it says.
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Like rivals such as Sony, Toshiba and Sharp, Panasonic has suffered from over-capacity in the TV manufacturing business, a strong yen and the seemingly unstoppable success of Korean companies Samsung and LG.
According to Reuters, Panasonic's TV division was a major contributor to the company's combined £9bn loss in the last two financial years. Its TV business posted an operating loss of £573m in the last financial year.
This year's Panasonic plasmas have been better than ever, with models such as the 42in GT60 receiving glowing five-star reviews.
MORE: Panasonic 2014 TVs
by Andy Clough