Vizio will be exiting the plasma TV sector of flat screen TV production as soon as it sells the last of its inventory. Vizio is a young company, just over 5 years old, but it quickly gained a large chunk of the flat screen market through its low pricing and big-box retailer deals.
Panasonic has announced a new, redefined plasma TV offering – starting in April, they will be releasing plasma TVs that are a quarter of the current thickness and that use half of the current energy. These new TVs will be available in Japan only, until the North American tentative summer release.
Cutting costs and increasing profitability is the name of the game, especially during these economic times. Both Sharp and Sony have recently announced the closing of manufacturing plants. LG has now announced that they will be cutting their production of plasma displays.
The rough economy is finally taking its toll on the HDTV market. Sharp recently announced a cut in their production of LCD panels. Now, Panasonic is consolidating the production of their plasma panels. Panasonic will centralize production of plasma panels by the end of the year as part of an internal reorganization to increase cost competitiveness and cut production costs by up to 4 billion yen a year.