Plasma TVs were once touted to be the next big thing. Until LEDs entered the frame and surpassed them. One of the last few remaining PDP manufacturers, Panasonic has announced that they will be exiting the plasma TV market with almost immediate effect.
Panasonic aims to stop production of all new plasma TV units by December 2013, which is just a month away. All related operations are scheduled to cease by March 2014. Two out of the three Panasonic factories tasked with the manufacture of their plasma TVs have already shut down.
This year Panasonic made a concerted push with an extensive range of plasma TV models unveiled at CES 2013 and introduced to the Singapore market. However the latest news seems the suggest that the new plasma TV range did not work out.
The writing for Panasonic and their plasma TVs had been on the wall for a while. Last year they suffered record losses for PDPs and in December 2012 it was announced that Panasonic was going to stop all research and development for plasmas.
Panasonic claims they have taken these steps "due to rapid, drastic changes in the business environment". For a long time now plasma TVs have been unable to compete with LED TVs in terms of price and cost which has eventually lead to almost all PDP makers abandoning the technology.