Pioneer stops production of plasma panels
"Pioneer have decided to kill production of their own plasma screens."
Published: 10th March 2008 | Source: The Subway Morning Herald |
Pioneer used to be one of the leading developers of the technology but has fallen behind bigger companies like Matsushita and South Korea's Samsung Electronics Co. and LG Electronics Inc.
Pioneer is sinking into the red for the fiscal year ending March 31, racking up a 15 billion yen ($145.6 million) loss for charges for restructuring its PDP TV business. It had previously forecast a 6 billion yen ($58 million) profit.
The decision to pull out of plasma TV panel production will chalk up a one-time cost of 19 billion yen ($184.5 million). But Pioneer said it will return to profit for the fiscal year ending March 2010.
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