Panasonic chose the day of the dead to announce the death of its plasma production.
Unlike other TV outfits, Panasonic has been doing rather well lately thanks to a rigorous regime of restructuring and cold baths.
It had been expected that plasma production was for the chop. While the technology is still good, it needs another wave of investment and most of the future appears to be in other technology. It was also completely eclipsed by LCD.
According to Panasonic public financial statements, the company has lost more than $15 billion in the plasma TV business over the past two years.
Plasma TVs accounted for 40 percent of flat panel sales in 2010. In 2013, they are expected to account for just 2.5 percent.
Panasonic told investors today that its plasma TV business would be over by the end of March 2014 and it will be switching off plasma production lines starting from next month.
According to MarketWatch, Panasonic is in talks to sell one of its three plasma display factory buildings in western Japan with the other two remaining facilities also earmarked for a possible sale.