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Samsung to quit plasma panel business by the end of 2014

Following Panasonic's exit from plasma late last year, Samsung is another of the big hitters to announce it will exit the market

Tamlin Magee | Jul 2, 2014 at 3:35 pm CDT (0 mins, 47 secs time to read)

Samsung will be shutting down the last of its plasma panel screen production by the end of this year.

Samsung to quit plasma panel business by the end of 2014 | TweakTown.com

Although plasma TV sets have been in decline for some time, this will be a serious nail in the coffin for the technology along with Panasonic's exit late last year. According to a statement, Samsung SDI will instead invest cash and resources in the energy and materials sectors, and an overall decline in demand for the sets has been cited as the main contributing factor. The news comes amid rumors that LG, another of the three major players in plasma, is also seeking to exit the business.

"We plan to continue our PDP TV business until the end of this year, due to changes in market demands," a Samsung spokesperson told CNET. "We remain committed to providing consumers with products that meet their needs, and will increase our focus on growth opportunities in UHD TV's and Curved TV's."

Last updated: Apr 7, 2020 at 11:46 am CDT

NEWS SOURCE:cnet.com
Tamlin Magee

ABOUT THE AUTHOR - Tamlin Magee

Tamlin Magee is based in London. His name can be found around the web and in print, and he's mostly interested in the ways the rapid rate of technological development is affecting us and our surroundings.

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