Panasonic pulls plug on plasma TVs

|About: Panasonic Corp. ADR (PCRFY)|By:, SA News Editor

Panasonic (PCRFY +3.8%) pulls the plug on its plasma TV production efforts. Manufacture will end in Dec. in the single remaining factory (2 have already stopped), and all ops will be shuttered by March. R&D will be diverted to OLED tech.

Panasonic said it came to its decision "due to rapid, drastic changes in the business environment" and price pressure from LCD models.