Will continue sellling plasma TV in India: Panasonic

Japanese Electronic major Panasonic today said it would retain some models of the plasma TV in India, amid reports that it is exiting the vertical. "Panasonic in India has retained some models in the Plasma category owing to its existing demand in the country," said Panasonic India Managing Director Manish Sharma.

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International media reports had said Panasonic will exit from the plasma TV business and stop manufacturing at its main plasma screen plant in Amagasaki in western Japan. As per the reports, the company was making huge loss on plasma TV and as a part of corporate strategy it is opting out from the business.
In India, Panasonic sales Plasma, LCD, LED televisions under Viera range. Quoting Consumer Electronics and Appliances Manufacturers Association (CEAMA), Sharma said the total demand for flat panel TVs is approximately 8 million and the total flat panel TV market is growing at a 30 to 35 percent.
"Looking at the current situation, we see that a product that brings together convenience and convergence of factors like connectivity and entertainment features, thus enhancing a consumers' digital lives, becomes a 'sought after' product," he added.
The content of the report stating that the company is exiting the Plasma business is not something that was announced by Panasonic. The company is looking into a variety of options regarding the strategy for the Profession Display Plasma business, but nothing has been decided at this stage," Panasonic Japan said in a late night statement.
"The company is looking into a variety of options regarding the utilisation of the Amagasaki Factory, but nothing has been decided at this stage," it added.