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Business

Panasonic pulls out of LCD television screens

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Business

Panasonic pulls out of LCD television screens

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COMING UP:Panasonic pulls out of LCD television screens

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00:00:00
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FOREIGN]
> An electronics giant is switching off its screen. Panasonic said on Monday, it's getting out of the LCD TV panel business as it struggles to compete with rivals from China and South Korea. It's shutting TV screen production at its only LCD plant by the end of September where it had been churning out some 800,000 32 inch panels a month.
00:00:21
Japan's Nikkei newspaper says the company will re-assign hundreds of workers to other facilities. The plant began in 2010 but never logged a profit. It will keep making screens for car dashboards and medical devices. Some of Panasonic's TV sets already use panels from rivals like South Korean LG display.
00:00:38
The company's decision leaves Sharp as the last Japanese tech firm making TV panels.