englibertm
JF-Expert Member
- May 1, 2009
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LG Electronics has confirmed that it will end production of plasma TVs by the end of November, following a similar announcement by rival Samsung earlier this summer.
Reuters reports that a continuing decline in consumer demand for plasma TVs spurred LG's decision.
"No matter how much we try to keep [plasma] going, it's just not a business anymore."
The company will instead focus on its more popular LCD and OLED models, with LG's Ken Hong admitting that, "No matter how much we try to keep [plasma] going, it's just not a business anymore."
The move comes as little surprise. Plasma reached the height of its popularity around 2008, and has since steadily declined. LG's announcement comes almost one year to the day after Panasonicby far the biggest maker of plasma panelsconfirmed it was ending sales of its own plasma TVs, following a $10.2 billion loss on the technology in 2012.
Reuters reports that a continuing decline in consumer demand for plasma TVs spurred LG's decision.
"No matter how much we try to keep [plasma] going, it's just not a business anymore."
The company will instead focus on its more popular LCD and OLED models, with LG's Ken Hong admitting that, "No matter how much we try to keep [plasma] going, it's just not a business anymore."
The move comes as little surprise. Plasma reached the height of its popularity around 2008, and has since steadily declined. LG's announcement comes almost one year to the day after Panasonicby far the biggest maker of plasma panelsconfirmed it was ending sales of its own plasma TVs, following a $10.2 billion loss on the technology in 2012.