Panasonic to Exit Plasma TV Panel Business by end-March 2014

Reuters.com reports from Tokyo that Panasonic Corp will pull out of the plasma television panel business by the end of the financial year to March 2014, sources familiar with the situation told Reuters, marking a key milestone in the long-term decline of Japan’s TV industry.

Panasonic had been widely expected to back out of the unprofitable business, but the exit comes sooner than predicted and underlines President Kazuhiro Tsuga’s determination to weed out weak operations as he focuses on higher-margin products to end years of losses at the consumer electronics conglomerate.

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