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.
It is disappointing, though not unexpected, to see such a good plasma manufacturer pack up and go home. For many of us in the post-production industry Panasonic plasmas hang on our walls because of their color accuracy and depth.
The Japenese TV market is taking a beating now that the HD revolution has come and gone. Those who wanted to upgrade to HD have. Couple that with the rise of the less expensive Korean manufactures and it's an easy decision for Panasonic. 3D was a push that manufactures hoped would bring consumers back, but no dice. Now the marketing talk is 4K as the next "big thing," but I've got a strong hunch it'll materialize about as well as the 3D push did. Nada.