LG Electronics is winding down its plasma TV business, with operations set to cease by the end of November, according to a Reuters report.Reuters reported LG has stated in a regulatory filing that the decision reflects a decline in demand for plasma TVs, with the business accounting for 2.4 per cent of its 2013 annual revenue.
“We wanted to keep it going as long as we could,” LG spokesman Ken Hong told Reuters.
“No matter how much we try to keep it going it’s just not a business any more.”
Speculation had been building LG would join the likes of Panasonic in exiting the category, with the decision seemingly a matter of timing.
Samsung has also previously signalled its intentions to exit the category, leaving Chinese company Changhong as one of the few remaining manufacturers still launching plasma TV displays.
