Panasonic to scale-down TV business

Price competition is forcing Japanese electronics makers to reduce their production of televisions. Panasonic plans to scale down its loss-making TV business.

Sources say the manufacturer has decided to stop making plasma TV panels at its factory in western Japan by the end of March 2012.

Panasonic is also considering the sale of its liquid crystal display panel plant near Tokyo.

These streamlining plans involve cutting more than 1,000 jobs.

Japanese TV makers are experiencing intense competition with South Korean and Taiwanese firms. Hitachi has already decided to stop making TVs.

Thursday, October 20, 2011 14:16 +0900 (JST)